® Okan Bagimsiz Denetim Yeminli Mali Musavirlik Anonim Sirketi (The official title of the Turkish Company) Istanbul Trade Registry Number: 805320

All steps of this service are as followings;

 

  • We advise you as to your business type and size. You choose your company form. Company Form could be a Limited Liability Company, Anonymouns (Joint Stock) Company, Branch Office, Liason Office in Turkey according to Turkish Commercial Code.

  • We organise and prepare all necessary documents to set up process. Some of them are Article of Association, ByLaw, Proxy, Application Papers for Trade Registry Office, Tax Office and Social Security Office.

  • We make your company's Trade, tax office and social security registration.

  • We open a bank account for your company in bank you choose in Turkey.

  • We deliver you Certificate of Incorporation, Proxy, Tax Card, Company Seal and Bank Account Information.

  • Your Company is ready for doing business.

Accounting & Bookkeeping & Payroll

This service provided according to Turkish Commercial, Tax Method and Labor Code

 

  • Establishing accounting and cost systems, and organizing the accounting departments 

  • Providing bookkeeping services under the supervision of our foreign language-speaking experts 

  • Year-end closing of the statutory books 

  • Preparation and declaring of VAT, witholding tax, stamp duty, quarterly/yearly corporate tax declarations, etc.

  • Preparation monthly payroll, payroll slips and deliver to clients on time.

Reporting & Management Accounts

  • Reporting financial results; monthly, quarterly, yearly in accordance with IFRS, Local GAAP, US GAAP or clients' specific formats-rules

  • Accomplishing other miscellaneous tasks and preparation of special reports upon request

Audit

Our audits are conducted in accordance with the International Standards on Auditing and include such tests of accounting records and other auditing procedures as we consider necessary in the circumstances. Services include:

 

  • Turkish procedural tax laws (Local Standards)

  • Auditing of financial statements in accordance with International Financial Reporting Standards (IFRS),

  • Capital Markets Board of Turkey (SPK) regulations,

  • Banking Regulatory and Supervision Agency (BDDK) regulations,

  • energy market legislation,

  • regulations of the Insurance Supervisory Board of the Undersecretariat of the Treasury,

  • US GAAP and other country-specific accounting principles such as German GAAP, Italian GAAP, French GAAP, etc.

  • Restatement of financial statements in line with various accounting principles like IFRS, US GAAP, German GAAP, French GAAP and establishment of financial reporting structures accordingly

  • Conversion of TL financial statements into foreign-currency financial statements (functional or reporting currency) in conformity with IFRS.

  • Preparation of vendor and buyer due diligence reports for company mergers and acquisitions Assisting firms with valuing and accounting for their assets in the context of transactions and complex operations

  • Preparation of compliance reports for meeting contract conditions and financial covenants during the loan utilization process.

  • Performance of fraud auditsCorporate finance supporting services

  • Performing other special purpose audits and consultancy services

VAT Refund

Delivery of goods and services in Turkey is subject to VAT. However, for some activities, VAT paid in Turkey is returned with the SFA’s (Sworn Registered Financial Advisor) report prepared after the review is conducted.

 

The VAT Refund group within our Tax and Legal department offers services to help companies with their VAT refund application. It is composed of experienced SFAs and experts who keep a close watch on the procedures envisaged and the attitude adopted by the tax authorities. This dedicated group work exclusively on VAT refund transactions.

Tax Audit / Full Tax Certification (according to Local Tax Legislations)

Full Tax Certification simply means that a Sworn Registered Financial Advisor (SFA) carries out a tax audit of the company and certifies the tax returns.

 

The tax certification system significantly decreases any erroneous practices that may surface during an inspection by the Ministry of Finance. In addition, although tax certification is not mandatory, companies having their tax returns certified by a SFA are considered as having been audited by the public authorities, their accounts are not audited by the state tax inspectors.

This service includes following procedures;

 

  • Revision of legal books, related documents and financial statements within the framework of tax legislation

  • Checking conformity of provisional tax returns with legislation each quarter

  • Checking conformity of corporate tax returns with the legislation

  • Preparation of annual corporate tax certification report 

  • Preparation of tax examination reports on a quarterly basis

Other Tax Services

Advisory and special or official Sworn Financial Advisors' reporting for all kind of tax issues, this services include folowing headlines as local tax legislations;

 

  • Individual taxation

  • Customs and foreigner trade taxes

  • Transfer pricing and thin capitalisation

  • Property taxes

  • Communication taxes

  • Manucipality taxes

  • Tax planning and exemptions

  • Other all kind of taxes and tax issues

Financial and Tax Due Dilligence

With it's sector expertise and experience, We provide financial and tax due dilligence services at every stage of merges and acquisitions processes in Turkey. We provide due diligence services to both selling and buying parties of these processes by identifiying the financial risk of the target company and providing help to the selling company in preparing for the selling process.

 

Acquisition due diligence

 

In acquisition due diligence, we conduct a detailed investigation of information at the target company to identify issues and assist the management of the acquisition process by:

  • Gaining an understanding of the performance and business model of the target company,

  • Analyses of the target's underlying historical performance,

  • Identifying the financial drivers which directly have an impact on acquisition price,

  • Identifying potential risks.

 

Vendor due diligence

 

We also help you handle sales processes by:

  • Identifying and prioritizing factors to increase the business value,

  • Compiling pro forma financial information,

  • Providing guidance at each phase of the negotiation process,

  • Helping the selling shareholders become aware of any financial issues that will be seen as problems during the process to help them take timely action to eliminate such issues.

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