Services

Foreign Capital Company Formation

Designing the Articles of Associations in full accordance with your needs and legal requirements,

Choosing the best business form and preparation of all required documents in relation to chosen legal form of a company,

Translation and certification of all required incorporation documents,

Registration of the company with the Commercial Register, Tax Office and Social Security Office,

Arrangement of legal books and documents,

Licensing (if required),

Taxation, work permit and residence permit for foreign employees,

In addition to these, GRANITI provides services on market researches, feasibility study, business plan, marketing and sales plan, organisation, strategic planning, accounting plan, tax planning, bilateral prevention of double taxation treaty, transfer pricing, investment incentives, export incentives, and social security obligations.

Accounting System

GRANITI keeps the accounting records of the Client's entity in accordance with the Turkish Uniform Chart of Accounts and the Tax Procedural Law in line with the Uniform Chart of Accounts (UCA) issued by the Turkish Ministry of Finance. In the extent of this service, GRANITI provides the Client with the following:

Preparation of the journal vouchers,

Inputting all the accounting entries to the system,

Reconciliation of the bank balances according to the general ledger with the bank statements on a monthly basis,

Maintenance of the journal ledger, general ledger and the subsidiary ledgers,

Preparation of trial balance.

2- Corporate income and indirect tax compliance

GRANITI also does the following:
- Preparation of the withholding tax returns,
- Preparation of the monthly value added tax returns,
- Preparation of stamp tax returns,
- Preparation of the quarterly prepaid tax returns,
- Preparation of the annual corporation tax returns.

3- Payroll services

Payroll calculation
The computation of the payroll will be done in accordance with the relevant tax and social security legislation by accounting firms computer system at accounting firms office under strict confidentiality;

Preparing individual payroll slips of each employee,

Preparation of transfer order for payment of net salaries to individuals' personal bank accounts,

Preparing the social security declarations (e-declarations),

Preparing necessary legal forms to the Social Security Institution,

Preparing necessary legal forms of personnel to the Ministry of Labour and Social Security,

Preparing necessary legal forms to the Social Security Institution to be signed by personnel.

4- Reporting services

GRANITI prepares additional report and/or make supportive entries and transformations:
In accordance with the Turkish tax procedural law, the statutory accounts are prepared on a calendar month basis. Since foreign investors have different management reporting calendar, GRANITI sends a detailed monthly statutory trial balance and/or monthly management accounts report in a format given by the foreign investors, in accordance with the investor´s time table.

International Taxation & Tax Planning

Investment into and out of Turkey, advising on integration of international group structures, tax avoidance, implementation of bilateral prevention of double taxation treaties, profit repatriation, transfer pricing, acquisition of cross border properties, international tax optimisation, and cross border VAT issues.

Tax & Accounting Advisory

You can get benefits of our tax and accounting consulting services for minimizing your tax risks and settling tax conflicts and disputes on;

- The Turkish tax legislation, social security, health & safety legislation
- Developing accounting plan, and international reporting (IFRS, GAAP, TUAP)
- Update tax info-notes to update accounting departments
- Questions may arise from daily operations or investment policies or exporting
- Reviewing business agreements in terms of tax burden before signature,
- Training employees on relevant issues,
- Solutions for tax conflict cases with the tax auditors and the tax authority
- Specific issues such as mergers and acquisition, fusion, participation policy international income, transfer pricing, investment, tax, export incentives.

Due Diligence

No deal should go forward without due diligence, a process that checks the target is all it claims to be. Our role is to review financial records and provide the potential investor or purchaser with critical information, either to confirm representations made, or provide feedback to renegotiate the terms. We deliberately involve ourselves in the whole deal, from start to finish. Careful up front planning focuses the process and cuts down on irrelevant details, cost and time.

Valuation

As a professional yourself, you will be aware of the benefits of an independent professional opinion. The specialist area of business and share valuation can be difficult and worrying if your dealings in this matter have not been extensive. The key to an accurate and credible valuation is an in-depth knowledge and understanding of recognised techniques and how they are applied to the matter in question. This may be for tax planning, business sale or business. Alternatively, it may be necessary to obtain an independent valuation due to a shareholder or matrimonial dispute.

Benefits of an independent valuation:
- Any uncertainty in dealing with valuation matters will be avoided,
- You will save time and money,
- The weight of a third party opinion will strengthen your case,

Mergers & Acquisition

Merger & acquisition services of GRANITI to equity buyers cover procedures and strategies for transactions, due diligence, valuation, taxation, tax incentives and tax savings, accounting, employment, integration, execution and registration.

Business Consulting

Expert review of the Turkish Economy, including sectoral and industrial analyses, market researches, and identification of business opportunities and appraisal of promising projects, feasibility study and business plan,

Match-making and finding and assessment of suitable Turkish partners in the line of business development comprising a vast field such as acquisition, joint venture, distribution agreements, international tenders and trade opportunities,

Location of suitable local business partners in accordance with your expectations, and assessment of risks, as well as preparation of financial assessment and analysis,

Strategic planning,

Tax planning, bilateral prevention of double taxation treaties, transfer pricing,

Investment incentives, export incentives, and tax incentives.