With the “Communiqué on The Amendments of The Communiqué Regarding The Procedures And Principles Regarding The Implementation of Article 376 Of The Turkish Commercial Code numbered 6102” (“Amending Communiqué“) published in the Official Gazette dated October 31, 2023 and numbered 32355, the phrase “1/1/2024” in the provisional article 1 of the “Communiqué Regarding The Procedures And Principles Regarding The Implementation of Article 376 Of The Turkish Commercial Code numbered 6102” (“Communiqué“) published in the Official Gazette dated September 15, 2018 and numbered 30536, has been amended as “1/1/2025”.

The Amending Communiqué does not make any conceptual change in the Provisional Article 1, but only an extension of time.

Thus, until 1/1/2025, for the calculations to be made by joint stock companies, limited liability companies and limited partnership companies with capital divided into shares regarding capital loss or insolvency

  • All of the foreign exchange losses arising from foreign currency denominated liabilities that have not yet been fulfilled and
  • half of the total of lease expenses, depreciation and personnel expenses accrued in 2020 and 2021 may not be taken into account.
Eren Üçok
Partner | [email protected]
Ecem Akyiğit
Associate | [email protected]