An important regulation that closely concerns the financial processes of businesses investing in Türkiye has been implemented. By the Revenue Administration of the Ministry of Treasury and Finance February 9, 2026 published on VUK-196/2026-2 Circular no. determined a new road map regarding the taxation of differences resulting from inflation adjustment of the "Investments in Progress" account (258).
The new regulation alleviates the instant tax burden on the investor and envisages inflation differences being spread over the period after the investment is completed and capitalized, instead of being taxed in advance. Although this situation provides an advantage for businesses that want to protect cash flow, it also brings with it a new and detailed calculation process that must be followed for accounting departments and financial advisors.
Especially businesses that are in the investment process and using account number 258 should analyze this circular carefully in order to avoid any criminal sanctions in the future. Below you can find details about the official announcement and calculation methods.
Official Circular Text
Click here to review the official announcement (VUK-196) of the Revenue Administration on the subject in detail.
How Does the New System Coming with VUK-196 Work?
According to the circular, inflation differences occurring during the investment period are not directly reflected in the income statement, but are included in the liabilities of the balance sheet. "Special Fund" will be kept in your account. This fund is available every year until the investment is completed and during the redemption period after it is completed. Revaluation Rate (RRR) will be increased by .
1. Investment Period: Tax-Free Standby
As long as the investment continues, differences arising from inflation adjustment are not taxed and are taken into a Special Fund account. However, an important detail: this fund account must also be increased each year by the YDO rate. The increased amount is not taxable.
2. Activation and 5‑Year Taxation
When the investment is completed and the economic asset is capitalized (for example, when the factory starts production), the amount accumulated in the special fund is not collected all at once, 5 accounting periods is added to the tax base in equal installments. However, the remaining balance continues to be valued each year.
The simulation below shows exactly the calculation logic (Example-2) in the VUK-196 circular. You can examine the fund movements of an investment that becomes active in 2026.
| Year | Transferred Fund Balance | YDO (%) | Amount to be Added to the Base | Carry Over to Next Year |
|---|---|---|---|---|
3. Critical Warnings
Withdrawal of Fund from Business
If the amounts in the special fund account are withdrawn from the business or transferred to another account before the end of the 5-year period, the untaxed amounts will be considered as earnings for that year, creating a risk of penalty assessment.
Provisional Tax Periods
In accordance with article 5.1 of the circular, the calculated income amounts are calculated not only at the end of the year but also at the end of the relevant year. during provisional tax periods must also be added to the earnings (3-month periods).
To keep investment and period records in order Scope of cloud accounting program You can review; Verify specific fund and tax treatment decisions with your financial advisor.
Conclusion: Regular Recording and Correct Data Management are a Must
Although Circular VUK‑196 offers businesses an opportunity for tax planning, its calculation method requires cumulative and long‑term tracking. Especially when calculations are based on annually changing Revaluation Rates and decreasing balances, data consistency is critically important.
In such complex regulatory changes, for accountants to calculate correctly, the company’s ERP and accounting records It must be error free. Using a strong infrastructure such as Korgün ERP ensures that the movements in the investments account (258), invoice dates and amounts are kept in a disciplined manner. A healthy database is your most important power that will facilitate your compliance process, no matter how complex the legislation is.
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