The corporate tax exemption applied to the TL-denominated currency-protected deposits (KKM) of companies has been extended to cover the end of 2022.
According to the President’s decision published in the Official Gazette, if companies evaluate their foreign currencies in their balance sheets with the prestige of 31 December 2022 within the scope of KKM until the end of the year, interest and profit shares and other benefits will be exempt from corporate tax. In the previous practice, this exception covered the foreign currencies in the balance sheets of companies as of March 31, 2022.
