Comparison of Turkish tax legislation and provisions of the TMS 16 tangible fixed assets related to the valuation of tangible fixed assets

Turkey, being a country in the process of full membership to the EuropeanUnion and whose economic and commercial relationships gradually increase,aims at implementing the Turkish Accounting Standards, which are in harmonywith the International Financial Reporting Standards. The provisions of thevaluation of tangible fixed assets have been drawn up by the TMS 16 TangibleFixed Assets Standard adopted for this purpose. On the other hand, this issuehas been regulated in broad range also in the Turkish Tax Legislation led by theTax Procedure Law.The subject matter of this thesis has been benchmarking of the respectiveprovisions in treatment of both of these two diverse arrangements related withvaluation of Tangible Fixed Assets, because establishment of the valuationdifferences in these two arrangements with differing objective and execution ofremedial action in such respect will be to the benefit of the country.The aim of the studies carried out has also been likewise. In the first chapter ofthe thesis subject-relevant concepts and general arrangements have beentreated. In the second and third chapters the provisions of Tangible FixedAssets valuation in the Turkish Tax Legislation and TMS 16 Standard havebeen reviewed followed by benchmarking of these provisions in the fourthchapter.