Accounting and tax basics for startups in Türkiye

Accounting and tax are among founders' least favourite topics, but neglect is very costly. Good records and planning prevent penalties, protect cash and make fundraising easier.

Working with an accountant

In Türkiye, company books and filings are usually handled by certified public accountants (mali müşavir). When choosing one, look for:

• Experience with startups, software and technopark companies
• Digital tools and responsiveness
• Knowledge of incentives and support programmes

Main taxes and filings

• VAT (KDV): charged on sales and offset against VAT paid on purchases; filed periodically.
• Corporate income tax: on company profits, with an annual return and provisional tax periods.
• Withholding and social security filings: taxes and contributions deducted from salaries
• Stamp duty: on certain contracts and documents

Rates, thresholds and deadlines change, so get current information from your accountant.

E-invoicing and e-ledgers

Companies meeting certain criteria must use e-invoice, e-archive and e-ledger systems. Even if not required, digital invoicing speeds things up and reduces errors.

Employees and social security

Every new employee must be registered with the Social Security Institution (SGK) before starting. Set up payroll, leave and severance correctly from the start; see our hiring guide.

Bookkeeping

• Keep company and personal spending strictly separate.
• Store all invoices and documents digitally.
• Reconcile bank transactions with the books regularly.
• Prepare a monthly management report (revenue, costs, cash); see our cash flow guide.

Incentives

Technoparks, R&D centres and some programmes can provide tax and social security advantages; see our technopark and grants guides. Work with your accountant on accounting for and reporting grants.

Investor-ready financials

Investors want regular, consistent financials backed by documents. Management reports that match official records speed up due diligence.

Conclusion

Accounting is your company's financial memory; setting it up right saves time and money later. This guide is general information; consult your accountant on your company's specifics.