Paragraph (Ç) of repeated Article 298 of the Tax Procedure Law allows taxpayers keeping books on the balance sheet basis to revalue their depreciable assets each year by the revaluation rate. After revaluation, depreciation is calculated on the updated values, reducing the effect of inflation on the tax base.
Source: Tax Procedure Law No. 213 repeated Art. 298
Related terms
DepreciationThe systematic allocation of the cost of non-current assets to expense over their useful lives.Inflation adjustment (tax)An adjustment made under tax legislation, when certain conditions are met, to remove the effects of price changes from the financial statements.Advance taxTax paid in advance during the year by income and corporate taxpayers, in quarterly periods, on current-period earnings.Arm's length principleThe principle that transactions between related persons should be carried out at the prices and on the terms that would apply between independent parties with no such relationship.Capital gainGains of individuals from disposing of certain assets and rights that are subject to income tax.Certified public accountant (SMMM)A professional authorised to keep taxpayers' books, prepare their financial statements and advise on accounting and tax matters.
Last updated: October 22, 2026 · This definition is for general information only.