Due to the complex nature of Turkish tax law, foreign investors and local companies alike seek to utilize theservices of tax experts in order better navigate the regulations and avoid risky cases. Consulting with suchexperts regarding taxation and statutory requirements protects individuals and companies from facing legal action and harsh penalties which could falter the success of their endeavors.
Putting aside the difficulties created by highly dynamic legislation, the intentions behind these changes are tocultivate an environment of fair competition and boost intercompany relations along with international trade. One of the driving factors behind these changes is the effort to harmonize Turkish processes with those of theEuropean Union by minimizing the differences in regulation and equalizing tax rates.
When considering that the tax laws of Türkiye are already complex in their current state, adding an element of constant change strengthens the argument and need for the professional assistance of expert consultants. Theharsh penalties mentioned above are significantly higher than in most countries and they are applied based on an in depth analysis of the taxpayers’ activities such as checking the consistency of quarterly and annual temporarytax declarations among other controls.
Besides being exposed to the risks of non-compliance, many taxpayers that keep records of revenues or lossesresulting from exchange rate fluctuations may face unexpected tax payments resulting from the accrual basedaccounting system used in Türkiye. In order to avoid such situations, taxpayers can utilize tax planning servicesso that their current and future taxation options can be analyzed, and their tax liabilities minimized. This is justone example among many of a benefit outside of the all-important statutory compliance aspect.
As a reputable and trustworthy company, Cpa Fayat Yılmaz its clients by providing up to date consultingregarding the tax regulations and planning. The wealth of knowledge that has accumulated through our manyyears in the industry along with a staff of experienced CPA’s and consultants have equipped IstanbulCPA withthe tools needed to satisfy and surpass the expectations of our clients. Our services will leave you with the peaceof mind that comes with knowing that processes are fully compliant with regulations and every opportunity toreduce liabilities has been seized.