NATURE OF THE ENGAGEMENT

Tax authority of Turkey, having been empowered by relevant legislation, has identified certain tax law clauses [i.e. transactions] which provide the tax payers with some sorts of easiness or rights, and determined that tax payers who want to benefit by these clauses should submit a special “SCPA⁽¹⁾ certification report”. Submission of such a report is in some cases an absolute condition and in some cases an alternative condition.

The list of such transactions and relevant application details change in time in parallel with the amendments of tax laws and with the changes in the decisions of tax authority. However, these transactions are generally related with topics such as,

Incentives and exemptions in income taxes,

Refunds in value added taxes,

Deferral and cancellation or low rate application in special transaction taxes,

In this engagement, all relevant transactions of our client are examined in accordance with the standards developed by the relevant state authority. At the end of the engagement, a special “SCPA certification report” is submitted to our client.

Footnotes:

(1) SCPA: Sworn-in Certified Public Accountant