Officially announced revaluation rate

The revaluation rate was determined at 58.46 percent for 2023.

The Tax Procedure Law Statement prepared by the Revenue Administration of the Ministry of Treasury and Finance was published in the Official Gazette.

In the notification, in accordance with the Fiscal Procedure Law, the revaluation rate is the average rate of price increase in the domestic producer price index of the Turkish Statistical Institute in October (including October) of the year in which will carry out the revaluation, compared to the same period of the previous year, and this rate must be announced by the Ministry in the Official Gazette, it was indicated that it was necessary.

In this context, it was noted that the revaluation rate was set at 58.46 percent for 2023.

The regulations indicated that previously published communications on this topic were also in force.

In laws relating to various taxes and fees, it is provided that the amounts of taxes, fees and penalties will increase each year according to the revaluation rate. (AA)