Circular 2025 – 063
Extended Deadlines for Calculations Regarding Capital Loss or Insolvency Recognized in Allowances
In the ‘Regulation Amending the Regulation on Procedures and Principles Regarding the Implementation of Article 376 of the Turkish Commercial Code No. 6102,‘ published in the Official Gazette dated December 10, 2025, and numbered 33103, the phrase ’1/1/2026’ in the first paragraph of Article 1 (Provisional) of the Regulation, which lists expenses that may not be taken into account in calculations related to capital loss or insolvency, “1/1/2027” has been changed to.
Accordingly, for calculations regarding capital loss or insolvency, effective until 1/1/2027, the entirety of foreign exchange losses and half of the sum of expenses, depreciation, and personnel expenses arising from leases accrued in 2020 and 2021 may not be taken into consideration.
The regulation regarding the Temporary Article in question is as follows, and you can access the announcement regarding the amendment at the following link.
TRANSIENT PROVISION 1 – (1) Until January 1, 2027, in calculations related to capital loss or insolvency under Article 376 of the Law, half of the total of exchange rate losses arising from outstanding foreign currency liabilities, as well as expenses, depreciation, and personnel expenses arising from leases accrued in 2020 and 2021, may not be taken into account. Calculations will be made in a way that prevents duplication in determining these amounts. No entries will be made in the financial statements prepared in accordance with Article 13 for calculations made within the scope of this paragraph. This situation will be shown in footnotes as information.
Sincerely
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