The corporate tax exemption in KKM will also apply to foreign currencies.

The exemption from Corporate Tax, which is regulated in transitory article 14 of the Corporate Tax Law, will also apply to currencies on company balance sheets.

In accordance with the President’s decision on the matter published in today’s edition of the Official Gazette, the exemption will also apply to foreign currencies included in company balance sheets as of March 31.

INCLUDES INCOME FROM KKM COMPANIES

The regulation introduced by temporary article 14 of the corporate tax law includes provisions to exempt company earnings from foreign currency protected deposits (KKM) with a maturity of at least 3 months, foreign exchange earnings, interest and profits from participation in corporate tax profits. .

In accordance with the provisions of article; The President has the power to apply this exemption separately or together for foreign currencies on the balance sheets of the institutions at the end of each interim tax or annual accounting period until December 31. (Reuters)