In 2024, newly opened companies and sole proprietorships subject to the balance sheet principle will not make inflation adjustments in the 2024/2nd and 3rd provisional tax periods, but if there is no change, inflation adjustments will be made for the income tax return to be submitted in March 2025 for the end of 2024 and the balance sheets in the corporate tax return to be submitted in April 2025.
Again, if there is no change, the profit and taxable loss resulting from the inflation adjustment to be made at the end of 2024 will also be taken into account in determining the tax base.
Source: Istanbul Chamber of Certified Public Accountants
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
