Turkey’s Revenue Administration published Tax Procedure General Communiqué No. 582 in the Official Gazette on 15 February 2025. This update sets new guidelines for taxpayers regarding inflation adjustments in provisional tax periods. According to the communiqué, taxpayers will not be required to make inflation adjustments for the first, second, and third provisional tax periods in 2025.
However, taxpayers must still apply inflation adjustments in their year-end financial statements for the years 2024 and 2025. This requirement ensures that the inflation impact is reflected in the annual tax calculations.
The communiqué also outlines an exemption. Taxpayers engaged in the purchase, sale, or production of processed gold and silver must continue to make inflation adjustments for all three provisional tax periods in 2025. These businesses are not covered by the exemption provided to other taxpayers.
