Amendment Regulation on the Local Administrations Budget and Accounting Regulation
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This regulation, published on 31 March 2026 in Official Gazette No. 33210, amends the Local Administrations Budget and Accounting Regulation originally issued in 2016. The most pervasive change is a systematic renaming of 'Ministry of Finance' (Maliye Bakanlığı) to 'Ministry of Treasury and Finance' (Hazine ve Maliye Bakanlığı) across numerous articles, reflecting a prior ministerial restructuring that had not yet been incorporated into this regulation. Budget classification authority for revenue codes is also reassigned from the Ministry to the Presidency of Strategy and Budget. A significant accounting reform introduces a new account class '61 – Discounts, Refunds and Rebates' (account 610) to separately track revenue deductions previously conflated with expense or revenue accounts. The unified Chart of Accounts is expanded with new accounts including account 135 (Single Treasury Corporate Account Receivables), account 263 (Product and Technology Development Expenditures), accounts 993 and 998 (asset rental income and other off-balance-sheet items), while four obsolete accounts (165, 834, 906, 907) are abolished. A new Single Treasury Corporate Account (Tek Hazine Kurumlar Hesabı) framework is introduced through new Articles 102/A–102/C. This framework governs how public entities whose financial resources are managed by the Ministry of Treasury and Finance track and reconcile fund transfers, revenue surpluses, and general budget transfers under the single treasury model. Inventory accounting rules (Article 114) are fully rewritten to align with the new Movable Property Regulation (Presidential Decree No. 9014, dated 09/10/2024). Key updates include mandatory net realizable value (NRV) testing for commercial goods at period-end, explicit inflation adjustment procedures using the simple average correction coefficient, FIFO exit valuation as the default method, and a 10-day deadline for sending asset transaction vouchers to accounting units for non-purchase acquisitions.
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Key Changes
- Systematic replacement of 'Ministry of Finance' with 'Ministry of Treasury and Finance' across all relevant articles to reflect the 2018 ministerial restructuring
- Revenue code classification authority for 3rd and 4th levels transferred from the Ministry of Treasury and Finance to the Presidency of Strategy and Budget
- New account class 61 and account 610 ('Discounts, Refunds and Rebates') introduced to separately track revenue deductions, returns, and discounts previously recorded in revenue or expense accounts
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Obligations
What this law requires
Update all references to 'Ministry of Finance' (Maliye Bakanlığı) to 'Ministry of Treasury and Finance' (Hazine ve Maliye Bakanlığı) throughout budgeting and accounting documentation and systems
Reassign budget classification authority for revenue codes from the Ministry to the Presidency of Strategy and Budget (Strateji ve Bütçe Başkanlığı)
Implement new account class '61 – Discounts, Refunds and Rebates' (account 610) to separately track revenue deductions instead of conflating with expense or revenue accounts
Perform net realizable value (NRV) testing for commercial goods at period-end and adjust inventory valuations using simple average correction coefficient for inflation
Apply FIFO (First-In, First-Out) as the default exit valuation method for inventory accounting