Tax, Audit, and Consultancy Services to
Domestic and Foreign Customers.
Analysis of all kinds of tax problems of companies and individuals involves revealing their situation under tax laws. ECC Tax & Audit aims to solve existing problems and prevent potential problems in the future by making specific advisory. Also, our aim is quick and reliable solutions in consultancy.
With the authorization of the Ministry of Treasury and Finance, the Corporate Income Tax Return certified services are provided by sworn-in certified public accountants. That means; this service includes registration for regular auditing of Company books and that their records comply with tax legislation, but the service does not include bookkeeping. A report prepared under service is presented to both the tax office and the client. Within this framework, the errors detected by the audit teams under the supervision of sworn-in certified public accountants, are corrected during the year. This service is carried out according to law No. 3568.
It is an inspection service performed at the request of the customers. Sometimes, because of the acquisition of a company, the financial statements of the acquisition (target) company are examined in detail, revealing hidden risks and ensuring transparency. Also, sometimes, the audit work requested by the parent company abroad can be carried out. In some cases, the framework and scope of this service are determined by the customer. On the other hand, the ECC auditors have independent auditor certificates have given by authority, which is KGK in Turkey. They carry out their work following international and local standards.
VAT (Value Added Tax) is a multi-stage indirect tax. In the case of one of the following three reasons in tax practices in Turkey, a VAT refund may occur.
- In the exception delivery and services: VAT refunds may occur in export deliveries, sales to people with investment incentive certificates.
- In the reverse charge in VAT: The practices of reverse charge are very common in Turkish VAT legislation. It is possible to get a VAT refund if there is a reverse charge application. For example, reverse charge is applicable for junk metal deliveries, and some construction works to the public.
- In the reduced VAT rate is applicable: Although the general VAT rate in Turkey is 18%, 1% and 8% rates are also available. VAT refunds may occur for taxpayers selling at 1% and 8%.
Our expert team analyze your activity and tax returns and share with you whether your company can receive VAT refunds, and if so, how it will happen. Depending on the situation, application forms or VAT return reports, and VAT returns are provided.
ECC Tax & Audit engaged in establishment services for local and international customers.
Its team has experienced to set up limited and joint-stock companies and liaison offices. When the service is provided, ECC and its solution partner lawyers propose the most suitable structure is convenient.
The existing problems are tried to be eliminated by analyzing the structure, the field of activity, the management style, and the strategies of the clients. Besides, suggestions are presented for increasing productivity.
Our management consultancy service is provided by a team of experts in the field.
By reviewing the situation of companies or groups of companies, the most appropriate restructuring model can be suggested to them. In the study, the current condition and alternative model are compared in detail, and solutions are presented. As a result of the study, one of the legal actions, such as spin-off, merger, demerger, type change can be proposed.
Also, as a result of this service, articles of association can be updated, and Instructions and Company constitutions can be prepared. Within this framework, the technical studies for the restructuring decided are carried out by our expert team.
Tax review is a technical term that includes taxpayers “examined of taxpayers” records for compliance with tax laws by the Ministry of Treasury and Finance. In tax inspections conducted according to the provisions of the Tax Procedure Law, it is possible to face a penalty of up to millions or billions.
Our experts are doing all kinds of tax review consultancy on this issue. Tax inspection consulting also includes service of supervising of tax reviews and reconciliations or customer representation in the commissions and inspections.
Also, our customers are assisted in how to act in the post-conciliation process.
It is a very appropriate practice to demand a settlement for the assessments that arise as a result of the reports written after the tax review. Within the framework of this service, the taxpayer can be supervised or represented in settlement commissions.
It is a part of our service to solve the problems faced by employers or employees, to make the necessary analyses and applications, to prepare working contracts, to prepare payrolls.
Besides, we offer to receive incentives services related to labor legislation by our solution partners.
Chartered accountants are authorized in many financial matters. Within this framework, ECC Tax & Audit provides audit services, consulting services, and reporting services in many areas of tax and commercial laws, accounting, and management. Some of our services are listed below.
• Preparation of Transfer Pricing Reports
• Preparation of financial analysis reports
• Preparation of capital payments reports
• Affirmation of positive differences in equity items regarding inflation adjustment on the capital
• Confirmation of investment tax incentives procedures
• Reports on corporate tax exemptions and deductions
• Special-purpose reports (for example, a report for payment via a bank requested by the Tax Office)
• Preparation of reports required for various purposes such as tax, commercial, incentive, social security, banking legislation.
• Providing special training
• Preparation of chart of accounts
The Republic of Turkey is a democratic, secular, and social state governed by the rule of law (Constitution Art.2). Turkish laws are made by the Turkish Grand National Assembly.
The civil law system of Turkey is based on various European legal systems, notably the Swiss civil code and German commercial code. Tax laws are similar to some European regulations, but there are significant differences.
Turkish government makes equal treatment for domestic and foreign companies. Foreign investors dispute settlement either in local courts or international arbitration bodies.
Turkey has one of the most liberal legal regimes for foreign direct investment in the OECD. Except for some sectors, areas open to the Turkish private sector are generally free to international participation and investment.
Foreign can transfer their funds and profits freely, and no permission is needed.
On the other hand, the government tent to tighter regulations in foreign exchange legislation. Please feel free to ask any questions.
According to legislation, foreign can-do commercial activities in Turkey. Foreign-owned Turkish companies are treated as Turkish companies.
Different business forms are possible to the Turkish Commercial Code; these are below.
Joint Stock Company (in Turkish: Anonim Şirket): The Company’s stock capital is divided into shares, and the liability of the shareholders is restricted with the capital subscribed by the shareholder. The minimum capital of 50.000 TL is mandatory. One share company and 100% of foreign capital are possible. All boards of management might be foreign residents and foreign citizens.
This is a business association established by persons who want jointly to supply various needs connected with their professions, crafts, and livelihoods. Such an association is based on the principle of mutual help and suretyship. The Co-operatives Law governs arrangements related to co-operative associations.
Also, foreign companies can open a branch to make commercial activities in Turkey. No minimum capital is required for branches. The branch manager is responsible for taxation activities. Also, Mother Company is accountable for branch activities. Branches are accepted a part of the foreign entity.
Foreign companies may open a liaison office inside Turkey. Liaison offices cannot make commercial activities. Also, they cannot be a partner of Turkish companies. Their functions are to make market research, purchasing agreements, monitoring dispatch ext. To open a liaison office, permission is necessary from the Ministry of Trade. Employees who work in liaison offices have tax exemption for salaries that they get outside of Turkey (ITC article 23/14). But employers have to pay their social security taxes for employees.