The amounts and thresholds for 2024 in the Tax and Duties Laws were updated and published in the Official Gazette numbered 32415, dated December 30, 2023.

The updates made along with the year 2024 are as follows;

With the publication dated December 30, 2023 and numbered 32415 in the Official Gazette, the following exceptions have been updated.

• Income Tax Exempted Meal Allowance
• Income Tax Exempted Commuter Allowance
• Disability Degree Discounts

The Official Gazette of Turkey published the General Communiqué on the Tax Procedure Law (Serial No: 555) on December 30, 2023, under issue number 32415 (2nd Extraordinary). This communiqué details the procedures and principles for adjusting financial statements for inflation for the fiscal year 2023 and subsequent periods.

The General Communiqué on Inflation Adjustment was issued with the aim of eliminating the effects of ongoing high inflation on financial statements and mitigating the adverse effects of inflation on taxation.

In the Official Gazette dated January 2, 2024 and numbered 32417, a Communiqué was published by the Central Bank of the Republic of Türkiye.

The purpose of the Communiqué is to announce the default interest rate and minimum compensation amount for late payments made to the creditor pursuant to Article 1530, Paragraph 7 of the Turkish Commercial Code.