Rate to be Used in the Calculation of Interest Deduction Arising from Cash Capital Increase

The interest deduction arising from cash capital increase is calculated by using the interest rate of “Commercial Credits (in TL) (Excluding Legal Entity ODA and Corporate Credit Cards)” from the “Weighted Average Interest Rates Applied to Loans Extended by Banks” announced by the Central Bank of the Republic of Turkey (CBRT) for the year in which the deduction is applied. According to the data announced by the CBRT, the latest interest rate announced for 2024 is 55.58%. For this reason, this rate will be used when calculating the 2024 corporate tax interest deduction application of taxpayers using the normal accounting period.