Corporate Income Tax Law Circular No. 62 of 5 April 2023 set the revaluation rate to be applied in the first advance tax period of 2023 at 8.77%.
Under Corporate Income Tax Law Circular No. 62 of 5 April 2023, published by the Revenue Administration, the revaluation rate to be applied in the first advance tax period of 2023 has been set at 8.77% (eight point seventy-seven).
- the revaluation to be carried out under repeated Article 298/(Ç) of the Tax Procedure Law (continuous revaluation),
- the indexation, in the reduced corporate income tax regime set out in Article 32/A of the Corporate Income Tax Law, of investment contribution amounts earned in respect of completed investments but not used because of insufficient income,
- the indexation, under temporary Article 69 of the Income Tax Law, of investment allowance amounts calculated on expenditure incurred up to 31 December 2005 in respect of investments commenced under repealed additional Articles 1–6 of the Income Tax Law, within the scope of investment incentive certificates issued on applications made before 24 April 2003, that could not be deducted because of insufficient income.
The rate of 8.77% (eight point seventy-seven) will be used in each of the above.