ARTICLE · 10 JANUARY 2024

General Communiqué On Inflation Adjustment Published

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The General Communiqué on Inflation Adjustment was issued with the aim of eliminating the effects of ongoing high inflation on financial statements and mitigating the adverse effects of inflation on taxation.

TurkeyTax

The General Communiqué on Inflation Adjustment was issued with the aim of eliminating the effects of ongoing high inflation on financial statements and mitigating the adverse effects of inflation on taxation.

The regulation includes:

Fundamental principles to be considered during the adjustment process,
Financial statements that are subject to the adjustment,
Obligations for conducting inflation adjustments,
Assets in the balance sheet that are subject to adjustment,
Adjustments to be made to the balance sheet for the fiscal year ending in 2023,
Inflation adjustment processes for the fiscal year 2024 and subsequent periods, along with other matters of special importance in the application.

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