HS İzmir Certified Public Accountant

1. COMPANY ESTABLISHMENT

We carry out company establishment procedures, foreign capital company establishments and branch opening procedures of foreign companies in Türkiye on behalf of our customers. We undertake Trade Registry procedures, Tax Certificate and Social Security Institution Workplace registration and make them ready for commercial activities.

Hand in hand with our customers, we evaluate the type of company that would be more suitable for their circumstances and carry out the establishment procedures in line with their decisions.

According to the Turkish Commercial Code (TCC), Commercial Companies can be established in five different types:

• General Partnership, (Kollektif Şirket; KOLL.ŞTİ.)
• Limited Partnership, (Komandit Şirket; KOM.ŞTİ.)
• Joint Stock Company; JSC (Anonim Şirket; A.Ş.)
• Limited Liability Company; LLC (Limited Şirket; LTD.ŞTİ.)
• Cooperative Company (Kooperatif Şirket)

Upon their request, we also offer our customers the service of opening a sole proprietorship instead of establishing a company.

Sole Proprietorship or One-Person Business: It is an enterprise owned by one person. Therefore, it is suitable for small businesses. It is the easiest to establish and close. The biggest advantage is that it is established with minimal costs and procedures whereas the disadvantage is that the owner has unlimited liability for all debts and obligations incurred by the business.

2. ACCOUNTING

Accounting is the language of business and the means of communication between all units of the business world.

It requires knowledge and experience to accurately record and report financial transactions while complying with all relevant rules and regulations. In other words, your business can express itself accurately to your stakeholders using this language.

As HS İZMİR, we support our customers in their operational and strategic decision-making processes by ensuring the production of accurate and up-to-date financial data with our well-equipped and experienced business partners who are CPAs.

Our main accounting services are as follows;

• Establishment and reorganization of the accounting department and accounting system and proactive execution of accounting processes,
• Keeping accounting books: Preparation of monthly, quarterly and annual financial statements,
• Preparing periodic financial status reports for senior managers,
• Accounting for import and export transactions,
• Financial analysis and risk analysis.

3. TAX

As HS İZMİR, the tax services we offer to commercial enterprises and other customers can be summarised as follows:

Our Tax services for commercial enterprises;

We track all your tax processes from the establishment of the business to its closure:

• Obtaining a Tax Certificate by notifying the tax office about the establishment of a business and assigning liability,
• Carrying out written and verbal communication with the tax office in special cases,
• Notifying the relevant tax office within the legal period of VAT Declaration, Withholding and Premium Service Declaration, Provisional Tax Declaration, Annual Income Tax Declaration, Corporate Tax Declaration and other declarations and notifications specific to the sector in which the businesses operate, and delivering the accrual slips to our customers.
• Keeping in constant communication with our customers on tax-related matters and informing our customers in a timely manner of any transaction that may lead to tax penalties, loss of resources and time,
• Eliminating the uncertainty in the tax aspect of the commercial transaction by requesting a ruling from the Revenue Administration in case there is no clear provision in the tax regulations regarding our customer’s specific commercial transactions,
• Assisting to prevent waste of resources by playing a proactive role in conducting tax planning within the framework of legal regulations, based on our customer’s monthly, three-month, six-month and annual business financial data,
• Preparing VAT refund files, offsetting the VAT refund receivable against the customer’s other tax debts or SSI (Sosyal Güvenlik Kurumu – SGK) premium debts, or managing the cash refund process,
• Preparation of the liquidation entry balance sheets, making tax declarations and notifications during the liquidation process, informing our customers about the tax consequences of the liquidation transactions, and terminating the tax liability by preparing the liquidation balance sheet.

Other Tax Services that We Offer;

• Providing consultancy on the taxation of the income of YouTubers, bloggers, vloggers, TikTokers and other content producers who generate income through social media,
• Preparing the Annual Income Tax Declarations of real person taxpayers with income arising from Real Estate Capital Income and wage income subject to declaration and submitting them electronically to the Tax Office,
• Preparation of Inheritance Tax Declaration,
• Various other tax related services.

4. PAYROLL AND HR MANAGEMENT

As HS İZMİR, we play an active role in assisting companies to fulfill their obligations arising from Labour and Social Security Law with our CPA partners experienced in Human Resources Management.

Our services in this field are briefly as follows:

• Establishment and reorganization of the Human Resources Department,
• Providing training to employees in the Human Resources Department of businesses about Labour and Social Security Law and relevant legal regulations,
• Obtaining a workplace registry number by submitting the Workplace Declaration to the Social Security Institution,
• Issuing the Employment Declaration for the Insurance Holder,
• Verifying the accuracy of the monthly payroll records and preparing the Monthly Payroll and Wage Calculation Statements,
• Reviewing the Employee Personnel Files periodically and ensuring that gaps are identified and eliminated,
• Carrying out the necessary procedures to benefit from insurance premium incentives and other funds provided by SGK, İşkur, KOSGEB and similar institutions,
• Preparing Severance Pay and Notice Pay payroll, Release and Employment Certificate for employees whose employment contract has expired and submitting the Declaration of Termination of Employment of the Insurance Holder to the Social Security Institution.

5. CONSULTANCY

As HS İZMİR, we provide consultancy services to directors of company and individual entrepreneurs on the following issues:

• Strategic management consultancy,
• Management of company establishment or single-person business establishment processes,
• Accounting and financial consultancy regarding accounting processes, specific transactions and preparation of financial statements,
• Tax legislation, tax incentives and discounts,

Labour and Social Security Law.