The General Communiqué no. 574 on the Tax Procedure Law (“General Communiqué”) was published in the Official Gazette dated 27 November 2024 and numbered 32735.
The General Communiqué sets the revaluation rate for the year 2024, pursuant to the Tax Procedure Law dated 4 January 1961 and numbered 213 (“Law”).
According to Article 298 (B) of the Law, the revaluation rate is determined by the average price increase, compared to the same period of the previous year, in the Domestic Producer Price Index (D-PPI) published by the Turkish Statistical Institute for the month of October (including October) of the year in which the revaluation will take place, which must be announced by the Ministry of Treasury and Finance in the Official Gazette.
Under the General Communiqué, in accordance with the relevant provision of the Law, the revaluation rate for the year 2024 has been set at 43.93% (forty-three point ninety-three).
