Turkey, straddling the crossroads of Europe and Asia, presents a compelling market for businesses looking to expand. With a young population, strategic location, and a growing economy, the country offers numerous opportunities for international firms. However, entering the Turkish market requires a well-thought-out strategy that takes into account local business practices, regulatory environments, and cultural…
Starting and operating a business in Turkey presents both opportunities and challenges. The country’s strategic location, bridging Europe and Asia, offers a unique marketplace with access to a large domestic market and proximity to regional markets. However, navigating the Turkish business environment requires a thorough understanding of its regulatory landscape. This article provides an in-depth…
What are the impact of Economic Crisis in Turkey ? Turkey, a country straddling Europe and Asia, has faced several economic crisis over the past decade. These challenges have culminated in economic crises that have far-reaching implications for its population and economy. The impact of such crises is multifaceted, affecting various sectors and demographics differently.…
The 2024 Minimum Wage Support Procedures and Principles in Turkey outline the government’s measures to assist employers in managing the increased labor costs due to the minimum wage hikes. This support aims to alleviate the financial burden on businesses while ensuring workers receive fair compensation. Here are the key aspects of these procedures and principles:…
Here are the key points regarding tax payments, fee submissions, and notifications due in July 2024 in Turkey. The fiscal calendar for July 2024 in Turkey is packed with important deadlines for tax payments, fee submissions, and mandatory notifications. This month, businesses and individuals must ensure timely submission of various tax declarations, including income tax,…
For foreign-capital companies planning to invest in Turkey, partnering with the right tax and accountants is paramount. This article introduces these key professionals in a clear and straightforward manner. Categories of Certified Public Accountants in Turkey Certified Public Accountants (Financial Advisors) in Turkey fall into two primary categories: Is it Mandatory for Foreign Companies to…
This guide provides an in-depth look into the intricacies of payroll management in Turkey, focusing on compliance and efficiency to ensure smooth business operations. Navigating Payroll Tax Regulations in Turkey Managing payroll in Turkey involves understanding and complying with various taxes, such as income tax, corporate tax, VAT, property taxes, and social security contributions. Staying…
Significant updates have been made to the deferment interest rates and late fee rates as stipulated under Law No. 6183 on the Collection Procedure of Public Receivables in Turkey. These changes were officially published in the Official Gazette on May 21, 2024, issue number 32552. Deferment Interest Rate Adjustment in Turkey The deferment interest rate…
Property Tax in Turkey Property tax in Turkey is a mandatory payment for owners of real estate, including land, estates, workplaces, and houses. The individual whose name appears on the deed is responsible for paying this tax. This tax is divided into two equal installments each year. The first installment is due in March, April,…
What are the information to know regarding the employees in Turkey ? This article, written by Azkan Group, provides comprehensive information about the status of employees in Turkey. Salary Payments Employees who are paid monthly or annually must receive their wages in Turkish currency at least once a month. If an employer delays payment by…
