Finlexia is a globally recognized Turkish Accounting Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish accountants are prepared to handle your company’s Turkish Social Security Law Services. Finlexia handles all kinds of accounting services required to run your company in Turkey. We offer the best accounting services, at competitive prices to foreign businessmen who already established or getting ready to establish a company in Turkey.
Turkish Social Security Law Services
The three insurance funds, namely SSK, Emekli Sandigi and Bag-Kur, were merged under a sole body called the Social Security Institution (SSI) in 2007. The three insurance funds together cover around 81% of the population as of 2008. The system started to be fully operational at the beginning of 2008.
Social Security Premium Payments
Social security premiums (as a percentage of employee’s gross earnings) are payable by both employers and employees.
Turkish Social Security System
Foreigners making social security contributions in their home countries do not have to pay the Turkish social security premiums if there is a reciprocal agreement between the home country and Turkey.
Unemployment Insurance Premium Payments
Employees, employers and the state are required to make a compulsory contribution to the Unemployment Insurance Plan at the rates of 1%, 2% and 1%, respectively, of the gross salary of the employee. Like the social security premium payments, unemployment insurance premiums are also to be paid on a monthly basis. Employers are able to deduct such contributions from their taxable income. On the other hand, an employee’s contributions are deductible from the income tax base of the employee.
A foreign individual who remains covered under the compulsory social security system of his/her home country that has a social security agreement in effect with Turkey is not liable for insurance payments to the Turkish social security. The proof of foreign coverage is to be filed with the local social security office. If the employee is not subject to a foreign social security, full contributions will generally be imposed. Unemployment insurance premiums are declared and paid to the Social Security Institution together with social security premium contributions.
Turkish Accounting Services
After registering a new company in Turkey, you will need to hire an accountant in order to manage the financial issues and offer solutions to lower the costs for your business. A good accountant will help you save money and make your company more efficient in terms of costs. In a short time, if your company is managed well from all points of view, the profit will increase.
An experienced accountant knows all the rules and regulations related to your business activity and will offer you the best advice in order to protect your money. Before hiring an accountant, you should check if he/she is registered before an accounting body in Turkey, so you will be sure that he/she is a professional and you can trust him.
Accounting Services in Turkey
The accountant will prepare financial statements for tax return, make an audit, will be responsible for book-keeping and financial planning and other different accounting services. He can help you with services such as:
- Social Security Office filings
- Tax Office registration and compliance
- Annual tax fillings
- Tax returns
- Debt monitoring and risk assessment
The accountant you choose can represent you in front of the Turkish authorities and can act on behalf of you in the financial field. He will help you manage your business related to accounting even if you can’t spend too much time in Turkey. When you are abroad, the accountant will offer professional assistance with business management and he can take care of the property administration.
One Accountant or a Team Of Accountants?
You can choose to hire one accountant if you have a small business or an accounting firm if you run a large company. A team of accountants with different backgrounds can provide a wide range of financial services and will find the best solutions to grow your profit and lower your costs. The accountants will inform you anytime about the income, costs and taxes and they will offer you confidentiality regarding the financial documents.
An experienced team of accountants can offer you studies and analysis in order that you can choose the best ways to manage your business and to obtain the best results. Besides this information, the team provides regular updates related to the Turkish legislation and regulations that can be changed year after year and can have a great impact on your business outlook.
Whenever you need accounting services in Turkey, you can contact our specialists in company formation who can help you hire the best accountant for your business, at low costs. If you have a large business we can recommend you an accounting firm or a team of experienced accountants.
Reach us for Turkish Social Security Law Services
Since its foundation, Finlexia Turkish Accounting Firm has been the choice of numerous clients in Turkey. Thanks to its nationally recognized accountants and accounting services, our accounting firm is now one of the leading accounting firms in Istanbul, Turkey. You may reach our accountants and lawyers for Turkish Social Security Law Services by sending by sending an email or filling in Contact Form in Contact page.