Türkiye has extended a temporary calculation option used when companies assess capital loss or balance-sheet insolvency under Article 376 of the Turkish Commercial Code. An amendment published on 10 October 2026 replaces the previous cut-off of 1 January 2027 with 1 January 2028 and entered into force on publication. For foreign shareholders, directors and lenders, the key point is narrow but important: the relief changes a deadline in the Article 376 test; it does not write off accounting losses, change a company's debts or automatically remove corporate-law duties.
What the one-line amendment changed
The new communiqué changes only the date in Temporary Article 1 of the 2018 implementation communiqué. The option can now be used until 1 January 2028. The previous extension, published in December 2025, had set 1 January 2027. Companies should therefore update 2027 closing and interim-review calendars rather than treating the measure as a new permanent rule.
What may be left out of the special calculation
Under the temporary provision, companies may disregard all exchange-rate losses arising from foreign-currency liabilities that have not yet been performed. They may also disregard half of the total of rental expenses, depreciation and personnel expenses accrued in 2020 and 2021. This is an option for the specific Article 376 capital-loss or insolvency calculation, not permission to delete entries from statutory accounts.
Why Article 376 matters to boards and investors
Article 376 addresses situations in which paid-in capital and legal reserves have been eroded or assets may no longer cover liabilities. Depending on the facts, it can trigger board reporting, general-meeting action, capital measures or an insolvency assessment. The extension can affect when those thresholds appear to be crossed, but it does not guarantee that a company is solvent or remove the need for current financial evidence.
A deadline extension is not debt relief
The communiqué does not reduce a loan, postpone payment, change tax treatment or create fresh equity. A foreign-currency liability remains payable under its contract, and exchange movements still affect the business economically. Banks, auditors, counterparties and investors may also use covenants or valuation tests that differ from the Article 376 calculation.
Practical checks for a Turkish company
Ask the company's Turkish accountant and corporate counsel for a reconciled calculation both with and without Temporary Article 1, the exact foreign-currency liabilities treated as unperformed, and a documented schedule of the 2020–2021 expenses used. Check board and general-meeting minutes, auditor comments, loan covenants and cash-flow forecasts separately. This report explains the official amendment; it is not a substitute for company-specific legal or accounting advice.
Ministry of Trade — official explanation of the temporary TCC Article 376 calculation relief →