Foreign residents are generally subject to taxation on their worldwide income, thus foreign State and Private retirement pensions transferred to Turkey may be considered taxable income.
Turkey has signed double-tax treaties with some nations. However, the system is complicated and it is advised to get a Turkish attorney to go through your pension status and taxes.
Companies registered in Turkey must make a lump sum payment to employees who retire. This amount is based upon one month's wages per year of employment with the firm.
Update 29/06/2008
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Turkey or to Turkey for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.