Insights

We regularly follow publications of the Official Gazette, the KGK and the Revenue Administration (GİB) and compile the changes that affect businesses. Our circulars cover the legislation, our videos give short summaries, and Academic View sets out the theoretical framework.

We announce significant developments in financial reporting, tax and audit legislation through numbered circulars. Each circular states the legal basis, the effective date and the practical impact of the regulation.

Circulars are for general information only and do not constitute professional advice.

EPISODE 14 · IN TURKISH TFRS or BOBİ FRS? Large entities required to apply TFRS are identified by exceeding two of three criteria in two consecutive periods. KGK Board Decision · Official Gazette, 9 May 2026 EPISODE 12 · IN TURKISH TMS 21: translation into a hyperinflationary presentation currency When translating from a non-hyperinflationary currency, the statements are translated at the closing rate on the latest balance sheet date; comparative amounts are restated as well. KGK Announcement 2026/15 · effective from 1 January 2027 EPISODE 10 · IN TURKISH 95% deduction on transit trade 95% of the profit from goods bought and sold without entering Türkiye may be deducted from the tax base; the profit must be brought into Türkiye by the tax return deadline. Corporate Income Tax Law No. 5520, Art. 10/1-ı · Law No. 7582, Official Gazette 4 June 2026 EPISODE 9 · IN TURKISH 12.5% corporate tax on manufacturing profits Companies holding an industrial registry certificate and actually engaged in manufacturing pay corporate income tax at 12.5% instead of 25% on their manufacturing profits. Corporate Income Tax Law No. 5520, Art. 32/8 · Law No. 7582, Official Gazette 4 June 2026 EPISODE 8 · IN TURKISH Extra time for minimum share capital The deadline for meeting the minimum capital of TRY 250,000 for joint stock companies and TRY 50,000 for limited companies was extended to 31 December 2027; the obligation remains, it has only been postponed. Official Gazette 17 October 2026, No. 33403 EPISODE 7 · IN TURKISH Sustainability reporting: 2026 reliefs Three transitional reliefs were extended to 2026 reports; the voluntary reporting option for small financial institutions was removed. KGK Board Decisions 46753 and 46754 · Official Gazette 22 October 2026 EPISODE 6 · IN TURKISH The asset amnesty is back For assets not recorded in the statutory books, the tax rate depends on timing and holding period; the declaration deadline is 31 July 2027. Law No. 7582 · Official Gazette 4 June 2026 EPISODE 4 · IN TURKISH TFRS 18 and the amendments to TAS 8 Five categories and two required subtotals in the statement of profit or loss; management-defined performance measures disclosed in the notes. Transition to the standard, effective 1 January 2027, begins with the 2026 year-end close. TFRS 18 Presentation and Disclosure in Financial Statements · Official Gazette, 8 May 2026 EPISODE 3 · IN TURKISH A new era for FX conversion support The commitment not to buy foreign currency was replaced by an FX position limit: liquid FX assets are capped at 10%, with an annual ceiling of TRY 100 million. Official Gazette 1 August 2026 · CBRT implementing instruction, effective 1 October 2026 EPISODE 2 · IN TURKISH FX gains, minimum capital and TSRS: deadlines extended The foreign exchange gain exemption was extended to 1 January 2028 and the deadline for meeting minimum capital to 31 December 2027; TSRS transition reliefs also cover 2026 reports. Official Gazette 10 Oct 2026 · 17 Oct 2026 · KGK, Official Gazette 22 Oct 2026

Videos are for general information only and do not constitute professional advice.

Articles by our team on the audit profession and financial reporting.

ARTICLE · NOVEMBER 2026 Requirements for Becoming an Independent Auditor: Practical Professional Training, Professional Experience and the Auditing Exam Requirements for becoming an independent auditor in Türkiye: practical training, professional experience and the KGK exam, with worked examples. Fatih Furkan Akgöz READ → ARTICLE · NOVEMBER 2026 Financial Incentives for Athletes and Their Treatment under Turkish Tax Legislation Tax incentives for amateur athletes and the taxation of athletes’ salaries in Türkiye, with 2026 amounts. Fatih Furkan Akgöz READ → ARTICLE · NOVEMBER 2026 51 Hours a Week: Work-Life Balance and Employee Satisfaction in Independent Audit Findings of a survey of 140 audit professionals in Türkiye on work-life balance and employee satisfaction. Naz Çakmak Akgöz READ →

This section features our academic advisors’ perspectives on financial reporting, audit and tax.

ACADEMIC ADVISOR Prof. Dr. Erkan Öztürk First article coming soon.

ACADEMIC ADVISOR Assoc. Prof. Dr. Ali Kablan First article coming soon.

Academic View articles reflect the personal views of their authors and are for general information only.