EXPENSES OF A COMPANY IN TURKEY

Following the Limited company formation in Turkey, the corporation will at least make the following monthly expenses of a company in Turkey for taxes and other costs in 2023. A limited company with inactive or low expenses must cover these costs at a minimum each month. Depending on the scale of the business’s operations, the number of branches, the number of employees, and the nature of its activities, the costs will change considerably.

VAT Stamp Duty Declaration

 It’s paid once a month. In the event that the business makes sales, value-added tax is computed based on the amounts to be subtracted from the expense invoices for VAT and the amounts determined in the sales invoices.

Taxes On Employee Salary And Monthly Insurance Expenses of a Company in Turkey

 In the event of employing people, the workers’ insurance premiums and taxes for the hours they put in each month. You can estimate that a company will spend between 41% and 44% of the typical monthly net wage on employee insurance and taxes.

Insurance Settlement For The Manager Of A Limited Company (4B Bağkur)

 The company manager’s 4B (Bağkur) insurance begins immediately after the company’s establishment. The only exception is that there is no requirement to be a member of Bakur and pay insurance charges if the company’s director is also insured at another company. The discounted rate for people who consistently pay their insurance premium each month is this sum.

Withholding Payment And Concise Statement Stamp Duty

Every month if a worker is present; every three months if not. Additionally, 25% of the workplace’s monthly net rent is computed based on the amount of any attorney fees paid, the SMM charge, and the workers’ income taxes. (There is no withholding tax on workplace rent if the company owns the workplace, is a virtual office, or if the owner issues invoices for monthly rent.)

Provisional Tax Declaration Stamp Duty

Every three months, a corporate tax payment is made on the business’s three-month net earnings, however, if it is profitable. In 2022, the corporate tax rate will be 22% of net profit.

Fees For Notarization And Accounting Bookkeeping Expenses of a Company in Turkey

Except for the first year of the corporation formation, it is an annual payment. These included accounting books in the startup costs for the first year. It happens every year moving forward.

Municipal Taxes 

 All companies with municipal licences must pay expenses of a company in Turkey yearly. Businesses that are exempt from municipal licensing do not have to pay. The workplace’s dimensions, setting, and characteristics determine the amount.

Cost for accounting and bookkeeping services provided by a CPA. A company may pay it yearly or on a monthly basis under an annual contract. Factors including industry, traits, demands, staff size, number of branches, imports, exports, and monthly sales invoice volume govern the limited company’s activity level.

Turkish-based businesses are subject to recurring legal responsibilities. You can always get in touch with Foreign Operation Consultancy to acquire an accurate cost table tailored to your company. They provide appropriate and practical solutions for all of your demands, such as company registration in Turkey and a full company setup.