Income Tax Tranches Should Be Arranged In order to prevent Employees from being oppressed by inflation

Income tax brackets should be arranged in order not to crush the employees due to inflation.
Income Tax Tranches Should Be Arranged In order to prevent Employees from being oppressed by inflation

Aegean Exporters' Unions Coordinator President Jak Eskinazi said that increasing employee salaries at high rates is a very important step, and that another important step, the income tax regulation, should be put into effect quickly in order to ensure permanent welfare.

Aegean Exporters' Unions Coordinator President Jak Eskinazi said, “In order for the employees to get the maximum benefit from the salary increases we have made to compensate for inflation, the income tax base slices should be increased in line with inflation. In the current situation, the salary increase soon becomes ineffective with higher income tax cuts. In today's conditions, tax bases lag behind in adapting to changes in the purchasing power of the employee and cause more taxation of the employee's income, which remains constant in the face of inflation.

Expressing that they find it very appropriate that President Erdoğan's statement that the salaries of employees from all walks of life will be significantly increased from the beginning of the year to overcome the loss of welfare caused by inflation, Eskinazi said, "It is a very important step to increase the salaries of the employees at high rates, but the long-term welfare that the employee will gain with the increase in the salary can be long-term. In order to ensure permanent welfare, the income tax regulation, which is another important step, should be put into effect quickly. Otherwise, the increase in the income of the employee causes him to move to a higher tax bracket in a short time and be subject to more income tax. In short; They return the increase they received as tax and return to their previous income status.”

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