NATURE OF THE ENGAGEMENT

Purpose of this engagement is to provide our clients with current information concerning the legislation mentioned below. Here the term “legislations” is used as to include, in addition to legislation, judiciary decisions and international agreements.

Tax legislation

Tax procedural legislation

Income tax legislation

Corporation tax legislation

Value added tax legislation

Stamp duty legislation

Banking and insurance transactions tax legislation

Immovable property tax legislation

Inherited or transferred property tax legislation

Special consumption tax legislation

Non-tax financial legislation

State incentives related legislation

International investment legislation

Free zones legislation

Cross border industrial processing legislation

Foreign exchange legislation

Banking legislation

Capital market legislation

Social insurance legislation [section pertaining to employers]

Commercial legislation [sections pertaining to companies]

This engagement is carried out on continuous basis or on subject basis depending on the choice of our clients. When carried out on continuous basis, we continuously survey existing or planned businesses or transactions of our clients, identify those aspects of them which is regulated by above said legislation, and inform on timely basis our clients about relevant clauses of legislation. When carried on subject basis, the subject is identified by our clients, and we inform our clients about relevant clauses of the legislation.

Followings are within the context of this engagement; Tax planning [to keep tax burden at legally minimum level], Preparation of petitions at tax lawsuits where our client is defendant or plaintiff, Supporting our client’s discussions with tax authority.