Turkey Gazettes Decision Further Extending Corporate Income Tax Exemption for Foreign Currency Transactions

The Turkish Official Gazette Oct. 27 published Decision No.6297, further extending the corporate tax exemption for foreign exchange gains for companies converting foreign currencies into Turkish lira they deposit in banks for a minimum of three months. The exemption is now available for currency included on an institution’s balance sheet on Sept. 30, an extension from June 30, that is converted into lira by Dec. 31, before the minimum three-month deposit. [Turkey, Official Gazette, 10/27/22]

Reference: View Decision No. 6297 of 10/26/22, Official Gazette No. 31996/2022. View Gazette Index.