Regulation on companies' financial situation extended until 2028
The period during which exchange rate differences and certain expenses are excluded from the calculations of companies experiencing capital loss or insolvency has been extended.
A new communique prepared by the Ministry of Trade was published in the Official Gazette and entered into force, extending the period of the regulation concerning the financial situation of companies.
Decision Published in the Official Gazette
The communique regarding the amendment of the communique on the application of the relevant article of the Turkish Commercial Code, prepared by the Ministry of Trade, gained official status and entered into force upon being published in the Official Gazette.
Application Period Extended
With the new regulation, the application period of the calculation principles used in evaluating the financial situations of companies experiencing capital loss or insolvency has been redefined.
Items Excluded from Calculations
The opportunity was granted to exclude all exchange rate difference losses arising from foreign currency liabilities, as well as certain expenses from the years 2020 and 2021, from the calculations.
The practice of excluding half of the total rental expenses, depreciations, and personnel expenses from calculations will be continued.
New Date Determined
It was decided that the application period for these exemptions and facilities provided in the calculation of companies' financial situations will continue until January 1, 2028.