Tax Procedure Law General Communiqué No. 587, published in Official Gazette No. 33117 of 24 December 2025, provides that no inflation adjustment will be made in the fourth advance tax period of 2025.
Tax Procedure Law General Communiqué No. 587, published in Official Gazette No. 33117 of 24 December 2025, provides that no inflation adjustment will be made in the fourth advance tax period of 2025.
Accordingly:
- No inflation adjustment will be made in the fourth advance tax period of the 2025 accounting period.
- For taxpayers assigned a special accounting period, the fourth advance tax period of the accounting period beginning within calendar year 2025 will be taken into account for the purposes of this Communiqué.
- No balance sheet will be annexed to the advance personal or corporate income tax returns filed for the period in which inflation adjustment is not required.
- Taxpayers engaged exclusively and continuously in the purchase, sale and manufacture of processed gold and silver are obliged to make an inflation adjustment (as at the end of each advance tax period) regardless of the conditions in subparagraph (1) of the said paragraph, and will therefore continue to make an inflation adjustment in the fourth advance tax period of the 2025 accounting period as well.
Note: Under the current rules, an inflation adjustment will be made in the 2025 corporate income tax return. We will provide an update should this change.