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Draft Communiqué on Inflation Accounting Published

The Ministry of Treasury and Finance has taken action on the long-standing demand of the business world, the issue of 'inflation accounting,' and published a 'draft communiqué.' Evaluating this significant initiative that aims to tax companies based on their actual financial statements, Prof. Dr. Aydın Karapınar said, "One of the most important steps taken in the economic field recently. The revelation of real profits and balance sheets will pave the way for new investments."

BTSO Academy continues to guide companies with its training sessions on current issues affecting the business world. An important training session on the application of 'inflation accounting,' which has been among the top priorities for business representatives due to high inflation, was organized within the scope of BTSO Academy. A significant training, lasting about 8 hours and featuring the presentation of Prof. Dr. Aydın Karapınar, was attended by more than 500 people. In the training, Karapınar provided comprehensive information to business and accounting professionals, covering the impacts of inflation on financial statements, necessary preparations for inflation adjustment, correction of income statements and balance sheet items, and the preparation of comparative adjusted tables.

"High Inflation is the Biggest Obstacle for Corporate Investors"

Prof. Dr. Aydın Karapınar thanked BTSO for the training held to inform companies and professionals about inflation accounting. Mentioning that the Ministry of Treasury and Finance has prepared a 'Draft General Communiqué on Tax Procedure Law Regarding Inflation Adjustment,' Karapınar said, "The business world and professionals have been wondering for a long time whether inflation accounting will come or not. Consequently, a very important development occurred, and the draft communiqué was issued. Turkey has had an inflation adventure for a long time, and this adventure has gained more importance in recent years. High inflation was a significant obstacle, especially for corporate investors. With the application of inflation accounting, Turkey is taking a significant step forward."

"Inflation Accounting Will Reveal Real Balance Sheets"

Emphasizing that inflation accounting will create opportunities for investors, Professor Dr. Karapınar stated that financial data will be more reliable and comparable worldwide.  The transition to inflation accounting and the draft communiqué are crucial developments for industrialists and business people. During the BTSO Academy training, we examined the impacts of this transition. Going forward, authentic balance sheets will be disclosed and taxation will be based on a real table. This development is considered one of the most significant advancements made by the economy lately. Foreign investors previously faced challenges comparing Turkish company balance sheets with those of other countries. However, with the implementation of this regulation, it will be possible to compare reports on profit margins and balance sheets. "This step will also facilitate new investments, ultimately positioning Turkey in the top league. "

| 19.10.2023 |


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