Revaluation Rate Determined as 58.46%
The revaluation rate is the rate of increase in the average price increase in the Domestic Producer Price Index of the Turkish Statistical Institute in October of the year of revaluation (including October) compared to the same period of the previous year, according to paragraph (B) of the repeated Article 298 of the Tax Procedure Law.
With the Tax Procedure Law General Communiqué No. 554 published in the Official Gazette dated 25.11.2023 and numbered 32380, the revaluation rate for 2023 was determined as 58,46%.
The revaluation rate is used in the determination of many fixed rates and amounts related to taxes and penalties.
The relevant Presidential Decree is available here.
Sincerely,
BİLGENER