2020 valuation rates of non-current foreign currencies in the stock market were determined
Exchange rates that will constitute the basis for the valuation of foreign currencies that are not available in the stock market for 2020 have been determined.
The Tax Procedure Law General Communiqué prepared by the Ministry of Treasury and Finance (Revenue Administration) was published in the Official Gazette and entered into force.
With the Communiqué, the exchange rates that will constitute the basis for the valuation of foreign currencies that are not available in the exchange for 2020 in accordance with the Tax Procedure Law No. 213 were determined.
In the valuation of non-current foreign currencies and receivables and debts with and without bonds in the stock exchange, the exchange rates determined by the communiqué will be applied as of the end of 2020.
While determining the valuation rates for 99 currencies, this amount was determined as 7.3405 for 1 USD and 9.0079 for 1 euro.
As the valuation day where the Treasury and the Ministry of Finance established the announcement of the Central Bank of the Republic of Turkey (CBRT) exchange rates declared to be essential.
In the valuations to be made in this way, the effective buying rate for foreign currencies (foreign exchange buying rate in the absence of effective buying rate), and for foreign currencies in foreign currency, the foreign exchange buying rate will be applied.
In terms of tax applications, banks should take the buying rates determined and actually applied in accordance with the principles determined by the CBRT instead of the exchange rates determined by the communiqué during the valuation to be made as of December 31, 2020.
The rates in question are as follows:
1 Argentine Peso
1 Albanian Leki
1 Australian dollar
1 Azerbaijan New Manat
1 UAE Dirham
1 Bahamian dollar
1 Bahraini Dinar
l Bangladesh Exchange
1 Barbadian dollar
1 Bolivian Boliviano
1 Bosnia and Herzegovina Mark
1 Botswana Pula
1 Brazilian Real
1 Bulgarian Lev
1 Burundian Franc
1 Algerian Dinar
1 Check Koruna%