Tax Fields Audits and Reviews

Companies feel more necessity to implement proactive solutions for the most efficient tax structuring in order to understand the increasingly complex tax and commercial law practices of the Turkish economy due to the continuously changing nature of the legislations related to tax, finance and accounting. That is one reason why LEGAL is well positioned over 10 years to serve its clients in the tax planning & structuring, consultancy and full certification fields nation-wide and across borders.

In the framework of Application of Full Certification, LEGAL provides the comprehensive audit and full certification services with its well-equipped chartered accountants, known as sworn financial advisor in Turkey, that holds an approval authority, empowered by the law no 3568, of the year-end financial statements and tax returns of corporations contingent to the Turkish Corporation Tax Law, and real persons and legal entities subjected to the Turkish Income Tax Law.

Tax Advisory Services include;

  • Preparation of Full Certification Report
  • Examination and confirmation of tax returns to be submitted to the Tax Authorities
  • Identification of errors and missing information in accounting records and tax return
  • Tax Minimisation Planning
  • Expertise advice on all aspects of income and corporate tax
  • Consultancy and technical support on implementation the most tax efficient model for companies considering their specific circumstances
  • Provide regular reporting on the year-round tax field audits
  • Designing and setting- up cost-saving record keeping systems

Aforementioned services materialize at three stages; conducting the year-round audits, checking out the year-end tax calculations of companies, and preparing the full certification report in a period of time determined by the related law.

The routine audits carried out in the current year helps to identify and take corrective measures against fault applications that may otherwise be detected by the authorities. This proactive approach will certainly put you away from fines likely arisen from being too late of compensation of tax errors. Our Tax team comprises chartered accountants and their assistants. The tax field audit reports are being presented to clients and this provides benefits such as early detection, discussion and correction of an incorrect tax treatment.

In addition to our routine audits conducting in the current year, Tax Department serves and operates as a separate body in Legal Yönet in order to reflect the truth and fairness of the financial statements, which gives a clear view about companies’ operations, and the related income and corporation tax returns prepared under the light of that. Moreover, the department informs our clientele of the changes in the tax legislation via electronic post and facsimile latest in 24 hours after being publicly issued. Besides, it provides written and verbal consultancy services for the questions and problems brought by our customers in respect to the implementations of Financial, Tax Business and SSK (Social Security Institution) legislation.

In according to the Turkish Tax Method Law, rate payers are required to present a full certification report prepared and ratified by the Chartered Accountants so as to benefit from the transactions of revaluation, corporation tax exemption, and investment allowance exemption. In addition, the cited law points out that rate payers, who do not manage to present the full certification report on time, are not able to make use these mentioned rights. According to sentences of the General Communications no 4 & 18 of the Independent Accountancy, Sworn Financial Advisory, and Chartered Accountancy Law, if rate payers have income tax returns, corporation tax returns and their appendixes ratified by the chartered accountants there is no requirement for them to separately get the above indicated approvals.