Increase in Retirement Holiday Bonus Regulated at Grand National Assembly of Turkey
The Code of Youth and Sports Services is set to be amended following a recent decision by the Constitutional Court. The proposal aims to enhance support for athletes participating in international sports events such as the Olympic, Paralympic, and Deafimpik games.
Under the new amendment, the Ministry of Youth and Sports will train 8,000 athletes every summer and winter to prepare them for these specialized competitions. The ministry will cover expenses for sportive nutrition, housing, and travel for these athletes. Additionally, the athletes will receive a monthly allowance to support their personal expenses, with amounts varying based on factors such as age groups and sports branch differences.
Furthermore, athletes who achieve top rankings in World Championships or previous Olympic, Paralympic, and Deafimpik Games may receive allowances up to twice the net amount of the minimum wage. These expenses will be covered by the annual budget allocated for such purposes.
The payments to athletes will be tax-free and will not be subject to deductions or confiscation, except for stamp tax. Specific rules and guidelines for these regulations will be outlined in a forthcoming regulation issued by the Ministry of Youth and Sports in consultation with the Ministry of Treasury and Finance.
In addition to the sports-related amendments, changes will also be introduced to the Law on Financial Consultancy and Certified Public Accountants. The General Assembly meeting details for chambers and unions will be announced in advance on official websites and newspapers with a circulation of over 100 thousand copies.
Moreover, disciplinary penalties will be imposed on individuals who misuse professional licenses or engage in fraudulent practices within their respective industries. Offenders will be subject to dismissal and face disciplinary actions as per the regulations outlined in the law.
The proposal was presented by Deputy Chairman Celal Adan at the Grand National Assembly, who called for a break after the adoption of Article 4. The commission is set to reconvene at 14:00 to further discuss the proposed amendments and finalize the legislative changes.
