Would you like to open a company in Turkey? You will have to pay attention to the accounting rules in this country. Below, you can find information about the main accounting services our specialists provide in Turkey and information about the applicable regulations.
| Quick Facts | |
|---|---|
| Who requires accounting services in Turkey | Companies with establishments and activities in Turkey |
Applicable accounting legislation | – IFRS, – Turkish Financial Reporting Standards |
Types of accounting services we offer | – bookkeeping, – payroll, – annual financial statements, – tax returns, – debt monitoring |
| Tax advice and compliance (YES/NO) | Yes |
| We provide support for tax registration (YES/NO) | Yes |
| Financial planning for company owners | On request |
| Risk assessment and evaluation | On request |
| Types of audit services | – internal, – external, – financial, – compliance, – operational |
| Tax minimization methods available | – tax credit planning, – charities, – retirement plans, – selling investments that lost their value |
| Personalized financial consultancy services | On request |
| Investment consultancy for high-net-worth individuals | On request |
| Financial and analysis reports for companies | Evaluation of assets and implementation of new financial measures |
| Human resources services available (YES/NO) | Yes |
| Expertise provided by certified accountants (YES/NO) | Yes |
| Free case evaluation (YES/NO) | Yes |
| Types of HR services | – human resources administration, – staff recruitment, – preparation and registration of work contracts |
Services of a CPA in Turkey | – preparation of tax returns, – debt monitoring, – payroll, – bookkeeping and more |
Is debt monitoring a part of an accounting package? | Yes, a qualified accountant in Turkey can offer helpful insights into debt management approaches. |
| Follow-up and analysis | Our Turkish accountants can make varied reports after audits and present the results to the company managers. |
| Sustainability | With specific financial data, our accountants in Turkey can make reports showing income and expenses, followed by specific recommendations regarding sustainable activities that can be implemented in the firm. |
| What is source usage? | Analyzing internal business resources and proposing solutions to increase efficiency from a financial point of view |
| Bank payments | We can manage daily bank payments in the firm. |
| Inventory management | – tracking goods, products, and assets in a firm, – using dedicated platforms and data. Such reports can sustain an audit. |
| Accounting services for startups in Turkey | We provide accounting services for foreigners opening startups in Turkey. |
| Accounting services for sole proprietorships in Turkey (YES/NO) | YES |
| Preparing monthly and quarterly VAT declarations (YES/NO) | YES |
| Year-end closing approvals and books | Our Turkish accountants can close and sign the accounting books and documents at the end of the tax year. |
| Tax year in Turkey | 1st of January – 31st of December |
| Benefits of outsourced accounting services | – affordable costs compared to having an entire accounting department, – dedicated solutions, – personalized services |
| Why work with our accountants in Turkey? | – experience, – professionalism, – tailored accounting packages |
What types of accounting services do you provide in Turkey?
- Payroll,
- Bookkeeping,
- Audits,
- Annual financial statements,
- Tax returns,
- Debt monitoring, etc.
What is the accounting legislation applicable in Turkey?
- Turkish Financial Reporting Standards (TFRS),
- International Financial Reporting Standards (IFRS).
Who regulates accounting in Turkey?
The Public Oversight, Accounting and Auditing Standards Authority (KGK or Kamu Gözetimi, Muhasebe ve Denetim Standartları Kurumu).
Do you provide services of a Certified Public Accountant (CPA) in Turkey?
Yes, this specialist has various roles in the firm and can also offer consulting services.
You can find out more about accounting in Turkey from the infographic below:
What does payroll entail?
- calculating payroll taxes,
- payment of salary taxes,
- salary distribution to the accounts of employees,
- tax compliance and periodical reporting,
- record keeping through specific platforms/software, etc.
What does bookkeeping entail?
- registering all daily financial operations of a firm in Turkey,
- daily financial data entry,
- keeping the general ledger, and many more.
What are the payroll taxes in Turkey?
- 15% – 40% as income tax for salaries between TRY 190,000 and TRY 5,3 million or more,
- 14% social security,
- 1% unemployment insurance,
- 22.5% social security contributions paid by the employer.
NOTE! Certain exemptions apply. For instance, 5% deduction incentive or a TRY 300 daily meal allowance exempt from social security taxes.
You might want to watch the following video presentation:
What types of audits do you provide for companies in Turkey?
- internal and external audits,
- compliance audits,
- forensic audits,
- Financial audits, etc.
Do you provide support in the preparation of annual financial statements?
Yes. We can prepare and submit the following:
- Balance sheet,
- Income statement,
- Cash flow statements,
- Notes,
- Reports, etc.
Are tax optimization strategies available in Turkey?
Yes, here are some examples:
- strategic investments to minimize the amount of taxes in the firm,
- tax breaks for companies activating in the R&D sector,
- 5% corporate tax deductions for company owners paying their taxes on time,
- retirement schemes and many more.
Can I receive financial advice in Turkey?
Absolutely! Our accountants in Turkey can provide you with tax advisory & compliance, wealth management, and expert tax advice, among others.
Does a Turkish accountant make company payments?
Yes, our specialists can deal with daily payments in the firm.
Can I receive accounting services for more than just a firm in Turkey?
Sure, you’ll have to give us complete information about the companies you own in Turkey.
Are accounting services expensive in Turkey?
The costs for accounting services in Turkey will be determined depending on the size of the company, operations, and other factors.
What is the financial year in Turkey?
From 1 January to 31 December.
NOTE! In Turkey, company owners can apply to the Ministry of Finance to use a specific 12-month accounting period if the calendar year is not optimal for their business operations.
What are the advantages of outsourced accounting services in Turkey?
- better control of the daily accounting tasks/responsibilities,
- cost-effective compared to an entire accounting department,
- accounting experts who use specific platforms & software,
- professionalism,
- efficiency.
Ready to work with our accountants when opening a business in Turkey in 2026? We invite you to contact our firm today and take advantage of the personalized offers we have to offer.