Extension of the Transitional Period for Capital Loss Calculations under Article 376 of the Turkish Commercial Code

With the “Communiqué Amending the Communiqué on the Procedures and Principles for the Implementation of Article 376 of the Turkish Commercial Code No. 6102”, published in the Official Gazette dated 10 October 2026, the period applicable to capital loss and over-indebtedness calculations has been extended by one year.

The amendment changes the date “1/1/2027” in provisional Article 1 of the Communiqué on the implementation of Article 376 of the Turkish Commercial Code to “1/1/2028”.

Accordingly, under the provisional article, the following may be disregarded in capital loss and over-indebtedness calculations:

• All foreign exchange losses arising from foreign currency liabilities that have not yet been fulfilled,
• Half of the total lease expenses, depreciation and personnel expenses accrued in 2020 and 2021.

The amendment enters into force on 10 October 2026, the date of publication of the Communiqué.

Kind regards.