The Amending Communiqué, published on November 8, 2022, extends the deadline under Provisional Article 1 of the Implementation Communiqué for Turkish Commercial Code No. 6101. The deadline to exclude certain loss items from capital loss or negative equity calculations is now January 1, 2024. This temporary measure helps protect economic actors from the impact of the Covid-19 pandemic. Eligible companies can exclude all foreign exchange losses and half of specific expenses from capital loss and negative equity calculations until the end of the fiscal year 2023.

Presidential Decision No. 6434 introduces significant changes to independent auditing thresholds for Turkish companies, effective from January 1, 2023. The updated criteria raise financial limits, which could reduce the number of companies requiring independent auditing, but also make employee number conditions more inclusive for certain companies. The decision impacts publicly-traded companies, Annex-II companies, and those listed in Annex-I, including financial institutions and media service providers. Companies should closely monitor the new thresholds to ensure compliance with independent auditing requirements.