CHANGE IN THE MINIMUM WAGE IN THE TRNC
The Turkish Republic Northern Cyprus Minimum Wage Determination Board (Asgari Ücret Saptama Komisyonu) unanivorsly agreed on setting the monthly minimum wage at TL 1.834 which will be applicable as from 1 July 2018. The decision of the Board which was taken on 21 June 2018 was approved by the TRNC Council of Ministers on 23 June 2018. As the minimum wage is applicable from 1 st July 2018. There have been no changes to the personal income tax allowances which have been applied as from the begining of the year. Socail security and provident find premiums will be calculated on the new minimum wage (TL 1.834). The minimum wage as per hour , day, week and month has been given in detail below.

Minimum Wage Applicable from 01.07.2018 Per Hour 10,58tl, Per Day 84,65tl, Per Week 423,23tl, Per Month 1.834,00tl

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D.K. Deniz & Co. Chartered Accountants