Recently, business markets have been preoccupied with the ongoing discussion regarding the anticipated increase in employee minimum wages in Turkey (to take effect as of 1 January 2016). The Turkish government has indicated that the national minimum wage will be increased by 30 percent. There is growing concern that such an increase will result in increased personnel costs for employers. Under current legislation, the 30 percent increase corresponds to an approximately 48 percent increase in personnel costs for employers when taking into account applicable taxes and employer's social security contributions.
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Anticipated increase in employee's minimum wage
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