Our Chamber's Chairman of the Board of Directors, Sezai Irmak, made statements about the inflation accounting application that will come into effect in Turkey as of 2024.

Our Chairman of the Board of Directors, Sezai Irmak, stated that although this new accounting practice brings regulations aimed at correcting the effects of inflation on the financial statements of businesses, it will also bring with it additional tax burdens and taxation problems and will negatively affect the business world, and underlined that the biggest problem brought by inflation accounting is additional tax burdens.

He said that this situation will create a major financial burden, especially for small and medium-sized enterprises with low profitability, and will negatively affect the cash flows of enterprises, and that the increase in tax burdens will further complicate the financial planning and budgeting processes of enterprises, reducing operational efficiency.

He stated that another important disadvantage of inflation accounting is that it can be an obstacle to new investments, and that investment decisions can be postponed or cancelled due to increasing financial burdens and financial uncertainties, which can negatively affect economic growth and sectoral development. He emphasized that this situation can weaken competitiveness in the long term and limit the general innovative approach in the sector.

Our Chamber's Board of Directors Chairman Sezai Irmak, who stated that they put this issue on the agenda in line with the demands from our members, concluded his speech by expressing that he has no doubt that the statesmen will urgently make the necessary arrangements in the inflation accounting practice.