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The Council of Ministers of the TRNC reversed the decision to increase income tax

The Council of Ministers of the TRNC reversed the decision to increase income tax

January 18, 2024

The decision of the Council of Ministers of the Republic to increase the income tax to 40% caused a wave of discontent among the population. As a result, Finance Minister Ozdemir Berkova and the trade unions signed an agreement to reverse the decision. The following rates are currently valid:

10% - income from 30,000 liras to 60,000 liras
20% - income from 60,000 liras to 76,000 liras
25% - income from 76,000 liras to 105,000 liras
30% - income up to 105,000 liras up to 236,500 thousand liras
37% - from 236,500 liras

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