Determination of Taxable Object Values: Understanding Assessment Procedures for Taxes

Tax Update: Minister of Finance Regulation Number 79 of 2023 regarding Assessment Procedures for Tax Purposes

The government has issued the Minister of Finance Regulation Number 79 of 2023 (MoFR 79/2023) regarding Assessment Procedures for Tax Purposes. The purpose of the issuance of MoFR 79/2023 is to ensure that the determination of the value of taxable objects such as Land and Buildings Tax, tangible assets, intangible assets, and businesses is carried out in accordance with the prevailing tax regulations. Additionally, it serves as an effort to uphold fairness and legal certainty in the assessment process related to Income Tax, Value Added Tax (VAT), Land and Building Tax, and Tax Collection through Compulsory Notices.

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