Congratulations! You’ve successfully registered your company in Turkey. Now comes the crucial part: maintaining compliance throughout your first year of operations. Missing deadlines or overlooking obligations can result in penalties, operational disruptions, and reputational damage.
This comprehensive calendar walks you through your first 12 months, highlighting critical deadlines, recurring obligations, and strategic milestones.
Month 1: Foundation & Setup
Week 1-2: Immediate Post-Registration
Tax Office Registration
- Register with local tax office within 10 days of trade registry registration
- Obtain tax identification number (Vergi Kimlik Numarası - VKN)
- Register for VAT if turnover expected to exceed threshold (currently TRY 1,500,000 annually)
E-Systems Enrollment
- Register for e-invoice (e-Fatura) system
- Register for e-archive invoice system (for B2C transactions)
- Register for e-ledger (e-Defter) system
- Obtain digital signature and tax portal (GİB Portal) access
Social Security Registration
- Register company with Social Security Institution (SGK) within 1 month
- Obtain workplace registration number (İşyeri Sicil No)
- Register all employees (including foreign staff) before first day of work
Bank Account
- Open corporate bank account (if not done during registration)
- Transfer minimum capital (if applicable)
- Set up online banking and payment systems
Week 3-4: Operational Setup
Employment Documentation
- Prepare employment contracts (Turkish and English versions)
- Register employees with SGK before start date
- Obtain work permits for foreign employees (if not already secured)
- Set up payroll system
Accounting & Bookkeeping
- Appoint certified public accountant (YMM) or accounting firm
- Set up accounting software compliant with Turkish standards
- Establish chart of accounts aligned with Turkish Tax Procedures Law
- Create internal control procedures
KVKK Compliance
- Register with Personal Data Protection Authority if processing sensitive data
- Draft privacy policy and employee consent forms
- Implement data protection measures
Record Keeping
- Set up corporate records system (board minutes, shareholder resolutions)
- Establish document retention policy
- Create company seal (kaşe) and obtain notarized signature circular
Months 2-12: Ongoing Compliance
Monthly Obligations
VAT Returns (by 26th of following month)
- File monthly VAT return (KDV Beyannamesi)
- Pay VAT liability by bank transfer
- Reconcile e-invoice records
- Maintain VAT ledger
Withholding Tax Returns (by 26th of following month)
- File withholding tax return for employee salaries
- File separate returns for contractor payments, rent, services
- Submit advance corporate tax return (if applicable)
Social Security Contributions (by end of following month)
- Calculate and declare employee SSI contributions
- Pay employer + employee portions (around 37.5% total)
- Submit SGK contribution declaration (muhtasar beyanname)
Stamp Tax Returns (by 26th of following month)
- File stamp tax return for contracts, documents signed during month
- Pay stamp tax on relevant documents
Quarterly Obligations
Provisional Tax Returns (April, July, October, January)
- Calculate provisional corporate income tax based on quarterly profit
- File return by 14th of second month following quarter end
- Pay provisional tax (deductible from annual tax)
Board Meetings
- Conduct quarterly board meetings to review financial results
- Document decisions in board minutes
- Update shareholders on company performance
Semi-Annual Obligations
E-Ledger Submissions (July and January)
- Submit first 6 months’ ledgers by July 25
- Submit annual ledgers by January 25 of following year
Annual Obligations (Months 12-16)
Annual Financial Statements (within 3 months of year-end)
- Prepare balance sheet and income statement
- Conduct independent audit (if required - companies exceeding 2 of 3: TRY 200M assets, TRY 400M revenue, 200 employees)
- Translate to Turkish if prepared in foreign language
Annual General Meeting (within 3 months of year-end)
- Convene AGM to approve financial statements
- Distribute dividends (if applicable)
- Elect/re-elect board members
- Document in notarized minutes
Annual Corporate Income Tax Return (April)
- File annual corporate tax return by April 30 (for calendar year companies)
- Pay final tax balance
- Attach financial statements and audit report
Annual Activity Report
- Prepare annual activity report (required for joint-stock companies)
- Submit to trade registry
- Publish (if required)
Trade Registry Updates
- Update any changes in company information
- Renew trade registry gazette subscription
- Update signature circulars if authorized persons changed
As Needed Throughout Year
Transfer Pricing Documentation
- If related-party transactions exceed thresholds, prepare TP documentation
- Deadline: by corporate tax return date
Controlled Foreign Corporation (CFC) Rules
- Assess CFC implications if holding foreign subsidiaries
- Include in annual tax return
Incentive Certificate Compliance
- If operating under investment incentive, submit progress reports
- Maintain separate accounting for incentivized activities
Employment Changes
- Register new hires with SGK before start date
- Notify SGK of terminations within 10 days
- Update work permit applications for foreign staff
Strategic Milestones
Month 3: First Quarter Review
- Review cash flow and financial projections
- Assess compliance processes and internal controls
- Meet with accountant to review tax positions
Month 6: Mid-Year Checkpoint
- Conduct internal audit of compliance procedures
- Review transfer pricing policies
- Assess staffing and operational needs
- Plan for year-end audit (if applicable)
Month 9: Tax Planning
- Begin year-end tax planning
- Review potential deductions and credits
- Consider timing of major expenditures
- Assess incentive utilization
Month 11: Year-End Preparation
- Start preparing for annual audit
- Reconcile all accounts
- Gather documentation for tax return
- Schedule AGM date
- Review dividend distribution plans
Common Pitfalls to Avoid
1. Missing VAT Deadlines Late VAT filing triggers immediate penalties - set up automatic reminders for the 26th of each month.
2. Inadequate Bookkeeping Poor record-keeping makes year-end audits painful and expensive. Invest in quality accounting from day one.
3. Social Security Non-Compliance Failing to register employees before start date can result in significant penalties and back payments.
4. Ignoring Related-Party Transactions Related-party dealings require arm’s length pricing and documentation - plan ahead, don’t scramble at year-end.
5. Delayed Corporate Governance Holding regular board meetings isn’t just good practice - it’s legally required and demonstrates proper corporate governance.
6. E-System Delays Late registration for e-invoice, e-ledger systems can disrupt operations. Complete during first month.
Recommended Tools & Systems
Accounting Software
- Logo, Eta, Mikro, or international platforms with Turkish localization
- Must support e-invoice, e-ledger integration
Payroll Systems
- Integrated with SGK reporting
- Automatic tax and SSI calculations
Calendar & Reminder Systems
- Set up recurring reminders for all monthly/quarterly deadlines
- Use project management tools to track compliance tasks
Professional Advisors
- Certified public accountant (YMM)
- Legal counsel for corporate governance
- HR consultant for employment compliance
- Tax advisor for planning and strategy
Compliance Cost Budget (First Year)
Recurring Costs
- Monthly accounting services: TRY 5,000 - 15,000
- Annual audit: TRY 25,000 - 100,000 (if required)
- Legal counsel (retainer): TRY 10,000 - 30,000/month
- Payroll services: TRY 3,000 - 8,000/month
One-Time Setup Costs
- E-systems setup & training: TRY 10,000 - 25,000
- Accounting software: TRY 15,000 - 50,000
- HR systems: TRY 10,000 - 30,000
Contingency Budget 10-15% extra for unexpected compliance issues, amendments, or professional advisory needs.
Year 2 and Beyond
Your compliance calendar becomes routine after the first year, but staying proactive is key:
- Monitor regulatory changes (tax rates, thresholds, new requirements)
- Conduct annual compliance audits
- Update internal policies as company grows
- Scale systems and processes with headcount
- Consider outsourcing or hiring in-house compliance staff
How FDI Consultancy Can Help
Navigating your first year in Turkey requires local expertise and attention to detail. FDI Consultancy offers:
- Compliance Management Services: We handle your entire compliance calendar
- Accounting & Bookkeeping: Full-service Turkish accounting with international standards
- Payroll & HR: From hiring to termination, we manage the full employee lifecycle
- Tax Advisory: Strategic planning to optimize your tax position
- Annual Audit Coordination: We manage the audit process with top-tier audit firms
Don’t let compliance overwhelm your first year. Focus on growing your business while we ensure you meet every deadline and obligation.
Contact us today for a customized compliance plan tailored to your industry and company structure.
Disclaimer: This guide provides general information and should not be considered legal or tax advice. Regulations change frequently; always consult with qualified professionals for your specific situation. Last updated: March 2026.