Our Services

Financial Consultancy Services

Today, majority of the companies outsource out-of-scope services such as accounting, payroll, reporting etc., hence, they better focus on business and enhance operational efficiency.

We, Tarlığ Mali Müşavirlik, render the following finance and accounting services according to our clients’ requirements;

  • Keeping accounting records in compliance with uniform accounting plan,
  • Issue of returns for VAT, withholding tax, stamp duty, corporate tax, income tax. etc.,
  • Issue of BA & BS forms,
  • Issue of balance sheets and profit & loss statements prepared according to client’s needs,
  • Issue of VAT reimburse lists and exercise of deduction actions for companies entitled to VAT reimbursement,
  • Preparing and submitting monthly social security declarations,
  • Notifications with regard to new employees and the employees leaving job,
  • Issue of monthly personnel payrolls,
  • Issue of management and annual reports, budget, cash flow etc. statements in order to assist in the senior management

 

 

Legal Issues

 

Company Establishment Procedures

By virtue of our wide experience, we provide assistance to our clients in selecting the appropriate type of company, taking into consideration the industry, share capital, tax advantages, possible incentives et., and also in establishing the company in shortest term possible.

Not only Turkish citizens but also foreigners may establish companies in Turkey. Companies registered abroad, non-Turkish citizens and also Turkish citizens living abroad are considered as foreign investor.

Obligation to obtain pre-license for foreigners to invest in and establish company in Turkey is annulled, and Turkish company status applies to entire investors, who shall be entitled to each and every right and liability of domestic companies.

For certain business activities, however, consent by Ministry of Industry and Commerce shall be necessary. Those industries are; banking, private financial institutions, insurance, financial leasing, factoring, holdings, exchange offices, public entrepots, founders and operators of free trade zones, and companies subject to Capital Market law.

The following types of company are mentioned:

Joint Stock Company

Joint stock companies are founded by at least one shareholder (a real person or a legal entity) and the minimum capital requirement for joint stock companies is TL 50.000. At least 25% of the nominal value of the shares subscribed in cash must be paid during the foundation procedures and the rest is paid within 24 months by the shareholders.
The company’s stock capital is divided into shares and the liability of the shareholders is limited to the subscribed capital and paid by the shareholder.
Joint stock companies can be founded for any commercial purpose, by domestic or foreign capital. Foundation of banks, financial leasing companies, factoring companies, consumer finance and card services companies, asset management companies, insurance companies, holding companies established in the form of a joint stock company, companies who operate exchange offices, companies who operate public warehouses, agricultural product licensed warehousing companies, audit companies, inspection companies, technology development zones administrative companies are subject to the permission of the Ministry.
A joint stock company is managed by its board of directors and the general assembly. It is subject to corporate taxation.

Limited Liability Company

Limited liability companies are founded by at least one shareholder (a real person or a legal entity) and the minimum capital requirement for joint stock companies is TL 10.000. At least 25% of the nominal value of the shares subscribed in cash must be paid during the foundation procedures and the rest is paid within 24 months by the shareholders.
The company’s stock capital is divided into shares and the liability of the shareholders is limited to the subscribed capital and paid by the shareholder.
A joint stock company is managed by its management board and the general assembly. It is subject to corporate taxation.
 

Branch

Companies with head office abroad, which intend to deal with business in Turkey, may establish a branch, by a company resolution, without establishing a company in Turkey. Hence, the head office may perform business over such Turkish branch.

 

Liaison office

Liaison offices are utilized by companies, registered address and head office of which is abroad, for communication, feasibility, social and cultural issues, preliminary proceedings for mergers and acquisitions, promotion and advertising, close monitor of business opportunities and informing head office with this regard.

As liaison offices are not allowed to perform business activities, they are not tax-payer in Turkey in terms of corporate tax and VAT. Liaison offices lose their status and be considered as a branch should they carry out business in the future.

On the other hand, the Liaison Offices must perform withholding should they make payments listed under clause 94 of Income Tax Law. Therefore, it is obligatory to issue withholding return, and also to make SGK (social security institution) notifications, provided that necessary conditions are met.

 

Independent Audit Services:

With respect to mandatory independent audits, we render audit services to clients in order to establish a corporate structure, to ensure trust among partners, and to inform shareholders living abroad, and for such services we cooperate with reliable institutions such as Public Oversight Authority, TÜBİTAK, İSTKA and banks.
Independent audit services we provide are as follows:

* re-issue of financial statements in accordance with International Financial Reporting Standards (UFRS)
* Audit of financial statements issued in accordance with International Financial Reporting Standards (UFRS)

* special audit services
* establishment of internal audit system

* Control of efficiency of internal audit system
* revision services
* analysis and interpretation of financial statements