Yes, companies entering liquidation during the 2024 fiscal year will be required to make inflation adjustments. If a situation arises that necessitates the submission of a tax return for a partial period due to the cessation of business within the 2024 fiscal year, the balance sheet at the end of the 2023 fiscal year will be subject to inflation adjustment.
Relevant section from the VUK 555 No. Circular:
Adjustment of the balance sheet at the end of the 2023 fiscal year in cases of cessation of business, liquidation, transfer, merger, or change of legal form after the 2023 fiscal year.
ARTICLE 28-
1. According to the provisional Article 33 of the Law No. 213, it is foreseen that the balance sheet at the end of the 2023 fiscal year will be adjusted regardless of whether the conditions are met. On the other hand, the main principles related to the continuous adjustment process are included in paragraph (A) of Article 298 (repeated) of the same Law. Accordingly, subject to the realization of the conditions, taxpayers will make adjustments for the 2024 fiscal year based on the adjusted values in the balance sheet at the end of the 2023 fiscal year, which was subject to inflation adjustment, unless otherwise regulated.
2. In cases where a liquidation decision is made before the end of the 2023 fiscal year and liquidation is concluded before this date, the balance sheet at the end of the 2023 fiscal year will not be subject to adjustment. However, if the liquidation is concluded after the 2023 fiscal year, the balance sheet at the end of the 2023 fiscal year will be adjusted.
3. If the business is discontinued within the 2024 fiscal year, the balance sheet at the end of the 2023 fiscal year will be subject to inflation adjustment due to the emergence of a situation requiring the submission of a tax return for a partial period in the new fiscal year.
4. In cases of transfer, change of legal form, full division, and merger occurring after the end of the 2023 fiscal year, the entity in which the transfer, division, or merger takes place will adjust the balance sheet at the end of the 2023 fiscal year of the disappearing company or individual enterprise for inflation.
