Financial Services in Turkey
We support the financial management of your subsidiary in Turkey, which will be a critical advantage not only in the initial period but during all your operations here. Your staff will be able to fully focus on their business and generate sales accordingly without having to spend time with specifically financial tasks they may have little experience with. You can benefit from the professional financial consultancy provided by us, and the need for hiring additional staff in this field will be eliminated.
- Handling all type of daily finance issues
- Management consulting on daily tax and financial issues
- Payment transfers
- Cash flow planning
- Financial reporting according to client’s specific forms and requirements – monthly, quarterly, yearly
- Consolidation packages
- Support during client’s audits
- A team of highly skilled and qualified finance experts
- Communication with banks
- Controlling content of costs
- Preparation of payment and liquidity plan
- Weekly payments of invoices, wages, expenses, tax and social security
- Qualified reporting team with know-how on the differences of local GAAP
- Communication of finance issues in the way our international clients are familiar with
- No in-house financial department necessary
- Professional, well established, standardized service package with control loops
- Additional security
- Even well established companies in Turkey outsource these service to us because of our substantial experience
- Experience with all types of reports for corporate groups
- Ability to make local GAAP differences transparent and understandable
Accounting & Payroll accounting: For legal reasons, accounting, preparation and filing of tax returns, payrolls and notifications to the Social Security Institution are carried out by an external, legally authorised, independent, registered tax consultancy office.
We can check the documents and account details while managing and coordinating the accounting tasks along with the other financial issues. Our competent, daily communication and consultancy enable a cooperation that meets international requirements.
- Keeping of the legally required books (general ledger and journal)
- Recording of the incoming and outgoing invoices in line with the legally required uniform chart of accounts
- Monthly updating of the accounts receivable and accounts payable
- Keeping the register of fixed assets, and calculation of depreciations
- Booking of the stock value and the costs of goods sold calculations according to official requirements, based on the stock amounts and value provided by our clients
- Accounting reports in Turkish according to the legal requirements
- Preparation and filing of tax returns
- Monthly or quarterly withholding tax declaration (for taxes on wages or on third-party services)
- Monthly VAT return
- Quarterly prepaid corporate income tax returns
- Annual statement of accounts according to official requirements
- Annual corporate income tax return of the company
- BA-BS notifications
- Preparation of payrolls
- Booking wages, taxes, and social insurance contributions
- Declarations to be submitted to the State Social Security Institution (SGK)
Our finance experts can handle all the tasks related to payment transactions, planning and controlling including:
- Communication with banks
- Checking of invoices with regard to proper approval according to the internal holding or company rules
- Registration of all checked and approved invoices in a payment plan
- Preparation of a payment/liquidity plan
- Weekly execution of payments / settlement of due invoices via internet or through payment order by fax
- Controlling and paying the employee expenses
- Wage payments
- Payment of taxes and social security contributions.
During this stage, our senior consultants can have the general control and validate all payment instructions prior to execution.
Our senior consultants can carry out the adaptation or extension of the reports prepared by Accounting in English or German for our clients within the following scope:
- Preparation of monthly financial reports adapted to the data system of our clients (any special software required must be provided by Our clients)
- Preparation of quarterly consolidation reports
- Preparation of the year-end financial reports
The annual general assembly is mandatory and must be held within three months from the end of the fiscal year. The necessary formalities vary depending on the type of the company and its articles of association. Optionally we can offer to handle the necessary formalities.
Furthermore, upon request we can advise our clients at any time with regard to daily business matters, particularly in the fields of SCM and HR in Turkey. Legal consultancy is also possible through partner lawyers. The consultancy shall be carried out according to the wishes and needs of our clients.