Tax Services

Accounting and Tax Outsourcing Services

kpmg.com.trkpmgvergi.com

KPMG Turkey

Increasing competition in business life and continuous regulatory changes force companies to manage their accounting and other financial operations (tax, financial reporting and payroll processes etc.) in the most efficient and accurate way in compliance with the related regulations.

Company managements achieve their financial targets such as growth, profitability and investment in foreign operations by focusing on their core business operations and by outsourcing the financial processes, which is critical for the present and future of the company, to professional and expert firms providing “Accounting and Tax Outsourcing Services”.

KPMG’s “Accounting and Tax Outsourcing Services” helps clients to achieve their financial and operational targets by offering various business solutions in this area with a team of experts.

• Maintenance of legal books in compliance with Turkish Uniform Chart of Accounts and Turkish Tax Procedural Code

• Mapping of the group chart of accounts with the Turkish Uniform Chart of Accounts and creating the trial balance and financial reports based on group chart of accounts

• Assistance in production of legal books in compliance with Turkish Tax Procedural Code which are derived from the accounting records maintained by the “Shared Service Center” in compliance with group accounting policies

• Business advisory in implementation of ERP / Accounting Software in terms of local accounting standards, creation of chart of accounts and assistance in test phase of the implementation of local accounting standards

• Assistance in e-ledger, e-invoice and similar electronic requirements by the tax authority

• Providing management reporting services in compliance with international financial reporting standards (IFRS and US GAAP), by using the reporting templates and the software of the group

• Supporting the accounting and finance teams of our clients during the internal audit process and other special purpose audits (such as audit by tax office and independent audit) by providing necessary financial data and information to the auditors

• Providing fast and flexible solutions to our clients during restructuring, merger & acquisition and liquidation processes, such as providing temporary accounting and finance staff and management level personnel

• Assistance in other administrative operations such as issuing sales invoices, preparation of ageing reports, payment lists and related bank orders, reconciliations with customers and suppliers etc.

KPMG Turkey offers

financial support

solutions to firms of all

scales, regardless of

their sectors.

1- Accounting and Financial Support Services

Tax Return Preparation Services• Indirect Taxes

- Monthly VAT Return

- Monthly Reverse Charge VAT Return

- Monthly Stamp Tax Return

- Special Consumption Tax

- Monthly Ba and Bs Form

• Corporation Income Tax and Other Taxes

• Monthly / Quarterly Withholding Tax Return

• Quarterly Advanced Corporate Income Tax Return

• Annual Corporate Income Tax Return and its Attachment

Review Services for Tax Return Preparation Purposes• Review of the statutory books of the companies and the supporting

documents which are base to the accounting records on a monthly basis, with the aim of the preparation of tax returns

• Review of the tax returns prepared by the internal accounting and finance teams of the companies and control of the supporting accounting records and documents

• Our findings during the review of statutory books, for tax return preparation and control purposes are reported to the company managements by monthly reports. Improvement areas in accounting and tax return preparation processes are determined in these reports and we support our clients in improving the related areas at manager and partner level.

KPMG Turkey provides

support in preparation

of tax returns as well as

e-filing and submission to

tax authority through the

website of the Ministry of

Finance.

Our team sets

necessary control

procedures and

reminders throughout

the accounting and

tax return preparation

processes for the

accurate and timely

submission of tax

returns.

• Following up all bookkeeping, tax return preparation and payroll processes of liaison offices and preparation of annual activity reports

• Assistance in time extension processes of the liaison offices

• Health check analysis for the liasion offices

KPMG Turkey offers tailor-

made financial services

to liasion offices.

KPMG’s “Accounting and Tax Outsourcing Services” team provides assistance to clients in preparation and submission of tax returns to the tax authority on time, in complete and most accurate way.

3- Tax Services

2- Services for Liaison Offices

KPMG Turkey’s partners

and managers provide

continuous support

to their clients in

development areas

related to accounting

and tax declaration

processes by periodic

reports and feedbacks.

• Preparation of tax payment schedules for helping our clients in their financial planning

• Assistance in deferred tax calculations according to IFRS and USGAAP and preparation of related tax reports

• Preparation of VAT return lists

• Providing tax office registration services

Analysis of Payroll Processes• Work steps, roles and responsibilities of the parties involved in the payroll

process are analysed by considering the specific organizational structure of our clients.

For example; we analyse how and in which frequency is the payroll data received from the other departments such as accounting, finance and legal departments and the personnel within this scope.

• Work plans and standard process documentation are prepared in order to ensure coordination between different business units, personnel and the team responsible for payroll calculations.

• Necessary trainings are provided to the personnel preparing payroll data in order to create this data in the most accurate way (i.e how to fill the payroll schedule created specific to the client will be filled by the related personnel).

Our approach as KPMG

Turkey is to manage

payroll processes

through continuous

communication and

value-added approach

over the course of

engagement.

Payroll calculation process is one of the critical processes which should be managed in the most effective and efficient way since its results affect not only the financial statements but also the legal requirements of the company. Our approach in providing payroll services is to communicate our clients from the beginning to the final step of the processes related with the payroll calculations and manage the payroll process in most efficient way by adding value to our clients. We have specialized “Payroll Services” team including experts in payroll processes.This team of payroll experts provides services to large-scale companies in Turkey and act as thought leaders in related areas.

4- Payroll Process Analysis and Calculation Centre

Technical Payroll Calculation ServicesWe provide below services for all company types and sectors including applications for the employees subject to labour union, working at techno park and free zone within the scope of technical payroll calculations:

• Analysis of the payroll data received from our clients in terms of the requirements of income tax, social security related regulations and labour law

• Automatic transfer of the payroll data to the payroll software used by KPMG or the client

• Performance of technical payroll calculations (for all calculation types such as hourly, daily, monthly and annually)

• Control of the payroll calculations and sharing them with the clients

• Preparation of payroll slips which will be delivered to employees by e-mail or sealed envelopes

• Preparation of payroll reports specific to our clients (in Turkish and English)

• Determination of the amounts to be paid to the employees and preparation of the bank instructions or disks for the payment

• Provide below calculations and information to the accounting and finance teams of our clients:

• Calculation of compensation for annual leave

• Calculation of severance and notice provisions

• Preparation of journal entries regarding the payroll calculations

Preparation & Submission of Legal Forms and Social Security Registration • Social security registration of work places

• Follow up of applications for e-filing

• Preparation of the legal documentation for the new comers and the employees who leave the company

• Social security registration and deregistration of the employees

• Calculation of notice and severance payments related to the termination of employee contracts

• Preparation and submission of monthly social security returns

• Preparation of the reports to be submitted to the Turkish Labour Institution in electronic environment

Payroll Review Services

• Review of the payroll calculations performed by our clients in compliance with related tax and social security regulations on a monthly, quarterly and annual basis

• Reporting our findings following the review of payroll calculations to the company management and related business unit managers

• Reconciliation of the payroll summary and other calculation details with related accounting records

The main purpose

of technical payroll

calculation services

is to analyze the

processes of our clients

increase efficiency and

and effectiveness of

related processes.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG International Cooperative, a Swiss entity. Member firms of independent firms are affiliated with KPMG International Cooperative. KPMG International Cooperative provides no client services. No member firm has any authority to obligate or bind KPMG International Cooperative or any other member firn vis-à-vis third parties, nor does KPMG International Cooperative have any such authority or bind any member firm.

© 2016 Yetkin Serbest Muhasebeci Mali Müşavirlik A.Ş., a Turkish corporation and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in Turkey.

kpmg.com.trkpmgvergi.com

Contacts:Yetkin Serbest Muhasebeci Mali Müşavirlik A.Ş.

Neslihan ReapersTax, PartnerOutsourcing Servicesİstanbul, TurkeyT : + 90 216 681 90 50 F : + 90 216 681 91 50 E : nreapers@kpmg.com

Aslı DinçyürekTax, PartnerOutsourcing ServicesAnkara / İzmir, TurkeyT : + 90 232 464 20 45 F : + 90 232 464 21 45 E : adincyurek@kpmg.com