The Revenue Administration denied allegations that some companies’ taxes were postponed. In the statement, it was said, “No company’s tax debt has been postponed or rescheduled.”

The Revenue Administration made a statement regarding the allegations in some media outlets that “some companies’ taxes were postponed.” Pointing to the news and shares made based on the financial statements disclosed to the public by publicly traded companies, the statement recorded the following: “‘Some companies owned by Turkey’s top 10 wealthiest individuals had their 18 billion lira tax debt postponed, 100 companies traded on the stock exchange had their 62 billion lira tax debt postponed. Some major companies did not pay a penny in taxes in 2024.’ By making entirely deliberate interpretations, an impression has been attempted to be created that our Ministry is protecting certain taxpayers.

First and foremost, it should be noted that the tax debt of no company mentioned in the news has been postponed or rescheduled by our Ministry of Treasury and Finance.

The alleged taxes that are the subject of these shares relate to accounts used within the framework of Turkish Accounting Standards, showing the companies’ future tax obligations that will carry over to future periods, which does not mean that tax debts have been postponed.”

WARNING ABOUT ACCOUNT BALANCES It was stated in the announcement that companies subject to corporate tax obligation in Turkey are required to keep records according to the Tax Procedure Law and prepare their financial statements and declare them, and besides, it was mentioned that independent auditors, in accordance with the Turkey Accounting Standards published in compliance with international rules by the Public Oversight Accounting and Auditing Standards Authority, create their financial statements and disclose them to the public within the framework of the Capital Markets Law and relevant legislation. According to the relevant standard, the announcement indicated that two account types, “deferred tax liabilities/deferred tax assets,” are included in the financial statements, and in these accounts, future tax obligations and rights are accounted for, emphasizing that it is extremely wrong and misleading to make news and shares stating that companies’ tax debts have been postponed simply by looking at account balances without having sufficient accounting knowledge.