No. Following the circular published at the end of August 2024, companies with gross sales revenues below 50 million TL at the end of 2023 will not make inflation adjustments in the second and third provisional tax periods of 2024.
Companies established in 2024 and sole proprietorships subject to the balance sheet principle will not make inflation adjustments either.
Unless there is a change, sole proprietorships and companies subject to the balance sheet principle at the end of 2024 (including those established in 2024) will make inflation adjustments.
As is known, inflation adjustments will only be made for non-monetary assets in the balance sheet.
The inflation adjustment profit that will occur after the inflation adjustment will be taken into account in determining the tax base, and the inflation loss will also be taken into account as a deduction in determining the tax base.
Source: Istanbul Chamber of Certified Public Accountants
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