DCSIMG Tax Advantage | DenizBank

The pension system offers you a three step tax advantage. Join the system now and start saving by benefiting from tax advantages!

1ST STEP: Taxation of Pension Investment Fund

Pension investment funds portfolio management incomes are exempt from Income and Corporate Tax.

Example Implementation 1
  Pension Investment Fund Other
Repo Amount 100.000 100.000
Repo Yield 10.000 10.000
Deduction of withholding paid - 10.000 x 15% =1.500
Principal + Yield 110.000 108.500

2ND STEP: Taxation of Acquired Savings

The profit and savings acquired from the Pension System are explained according to their type of separation and period in the table below.

Situation Exemption Income Tax Withholding
Persons who have remained in the system for 10 years and reached the age of 56 25% 5%
Persons who have left the system due to obligatory situations such as death, disability 25% 5%
Persons who have paid contributions within the system for 10 years but who have left the system before reaching the age of 56 - 10%
Persons who have left the system without paying contributions for 10 years - 15%

3RD STEP: The Deduction of the Paid Contributions from the Tax Base

Employees

Paid Employees may deduct the contribution amounts they pay to the pension system on behalf of their self and/or their spouse from the income tax base on condition that it does not exceed 10 % of their monthly gross salary and the annual amount of their gross minimum salary yearly.

Example Implementation 2
Monthly Gross Salary TL 2.000
Maximum Contribution Amount To be Deducted from Tax Base (Gross Salary x 10%) TL 200
Annual Limit Annual gross minimum salary
New Income Tax Base 2.000 – 200 = TL 1.800 *
Tax Rate (if 25%) Income Tax Payable 1.800 x 25% = TL 450
Income Tax payable on Condition that Contribution is not Paid 2.000 x 25% = TL 500
Tax Advantage 500 – 450 = TL 50 **
* As your income tax base shall decrease, the income tax you shall pay will decrease too.
** By the deduction of the contribution amount from the income tax base, TL 50 of the TL 200 you deposit to your pension account shall be returned to you as a tax advantage. Thus the real cost of the contribution amount you deposit will be TL 150.

Self-Employed

The self-employed may deduct the contribution amounts they pay to the pension system on behalf of their self and/or their spouse from the income tax base on condition that it does not exceed 10 % of their monthly gross salary and the annual amount of their gross minimum salary yearly.

Example Implementation 3
Annually declared Income TL 20.000
Maximum Contribution Amount To be Deducted from Tax Base (Gross Salary x 10%) TL 2.000
Annual Limit Annual gross minimum salary
New Income Tax Base 20.000 – 2.000 = TL 18.000 *
Tax Rate (if 25%) Income Tax Payable 18.000 x 25% = TL 4.500
Income Tax Payable on Condition that Contribution is not Paid 20.000 x25 % = TL 5.000
Tax Advantage 5.000 – 4.500 = TL 500 **
* As your income tax base shall decrease, the income tax you shall pay will decrease too.
** By the deduction of the contribution amount from the income tax base, TL 500 of the TL 2.000 you deposit to your pension account shall be returned to you as a tax advantage. Thus the real cost of the contribution amount you deposit will be TL 1.500

Click here to calculate your tax advantage in detail.

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