Mr. H earned taxable income from three separate employers in 2021, all withheld. Wages from the first employer are 24.000 TRY, subjected to a withheld tax of 15% within the organization and this amount is 3.600 TRY. Wages from the second employer are 60.000 TRY, subjected to a withheld tax of 15%, 20%, 27% within the organization and this amount is 11.290 TRY. Wages from the third employer 200.000 TRY subjected to a withheld tax of 15%, 20%, 27% within the organization and this amount is 49.890 TRY.

Use the income tax schedule for 2021 from the slides.

Required: Calculate Mr. H.'s personal income tax liability for 2021. 

Explain the meaning of “Loss Relief”, “Tax Relief” and “Tax Credit”. Give examples of each of them. 

Explain the full tax liability (Residents) and limited tax liability (Non – Residents) for the personnel income tax. Explain the taxation methods for residents and non-residents. 

Explain the economic principles of taxation. 

Describe the exemption and exclusion. Interpret the similarities and differences. Give five examples of exemption and five examples exclusion for the Personnel Income Tax.