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Turkey says company balance sheets to be inflation-adjusted until 2026


ISTANBUL, Oct 25 (Reuters) – Turkish companies’ end-2023
balance sheets will be inflation-adjusted, with inflation
adjustments expected to continue next year until 2026, based on
inflation forecasts, the Treasury said in written answers to
questions from Reuters.

The move comes after Turkish inflation soared above 85% last
year after an aggressive rate-cutting cycle sparked a currency
crash in late 2021. Inflation subsequently declined but rose
again in recent months to stand at 61.5% in September.

The Treasury said profit or loss resulting from inflation
adjustments in end-2023 balance sheets will not affect
companies’ 2023 tax bases but may affect them in subsequent
years.
(Reporting by Ebru Tuncay and Birsen Altayli
Writing by Daren Butler
Editing by Helen Popper)



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