Tax Procedure Law General Communique (Serial No: 590)
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This Turkish tax regulation, published on 24 January 2026, establishes the official exchange rates to be used for the valuation of foreign currencies that do not have a stock exchange quotation. It applies specifically to the year-end 2025 valuation of foreign currency assets, receivables and payables under Article 280 of the Tax Procedure Law No. 213. The communique provides a list of applicable rates (in an annex) that taxpayers must use when preparing their 2025 financial statements and tax returns. In cases where the Ministry has not published rates on a specific valuation date, the Central Bank of Turkey's buying rates are to be used, with specific rules distinguishing between cash (efektif) and foreign currency (döviz) transactions. Banks are permitted to use their own actual buying rates applied on 31 December 2025 instead of the official rates.
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Key Changes
- Establishes official exchange rates for valuation of non-quoted foreign currencies as of 31 December 2025
- Requires use of rates listed in the annex of this Communique (Serial No. 590) for 2025 year-end valuations
- When Ministry rates are not announced on valuation date, taxpayers must use Central Bank of Turkey buying rates
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Obligations
What this law requires
Apply the official exchange rates listed in the annex of this communique for valuing foreign currencies without stock exchange quotation as of year-end 2025
Use Central Bank of Turkey's buying rates for valuations on dates when the Ministry has not published official rates
Apply the Central Bank's efektif (cash) buying rate for foreign currencies denominated in cash; if unavailable, apply the döviz (foreign currency) buying rate
Apply the Central Bank's döviz (foreign currency) buying rate for foreign currencies denominated in foreign currency form
Value all foreign currency receivables (senetli and senetsiz) and payables using the applicable rates as of year-end 2025