KKM regulation in corporate tax exemption

The corporate tax exemption will also be applied to foreign currencies included in companies’ balance sheets. The corporate tax exemption regulated by the temporary article 14 of the corporate tax law will also be applied to foreign currencies included in companies’ balance sheets. According to the Presidential Decree on the subject published in the Official Gazette, the exemption in question will also be applied to foreign currencies included in companies’ balance sheets dated March 31. The regulation introduced by the temporary article 14 of the corporate tax law includes provisions regarding the exemption of companies’ earnings from exchange rate protected deposits (CCD) with a minimum term of 3 months, exchange rate difference earnings, and interest and dividend earnings from corporate tax. According to the provision of the article; the President has the authority to apply this exemption separately or together for foreign currencies included in companies’ balance sheets as of the end of each temporary tax or annual accounting period until December 31.