What is Inflation Accounting?

Inflation accounting is an accounting regulation implemented to ensure that financial statements reflect reality in high inflation environments. Since the purchasing power of money changes over time due to inflation, financial statements need to be updated. This practice is regulated under the Tax Procedure Law (VUK) and International Financial Reporting Standards (IFRS).

The primary objective of this practice is to adjust the assets, liabilities, and equity in companies' financial statements to align with current economic conditions, enabling more accurate financial analyses. The distortion in monetary items caused by high inflation makes it difficult to understand a company's true profitability and financial strength. Inflation accounting enhances the accuracy of financial statements, allowing investors, lenders, and other stakeholders to make more informed decisions.

What is On-the-Job Training Program?

İŞKUR (Employment Agency) on-the-job training program aims to reduce unemployment, to reinforce the professional knowledge of the unemployed candidates registered on İŞKUR, to learn and develop by experiencing the work and production processes. With the on-the-job training program, employers can have the opportunity to review the performances of the candidates for a certain period of time to employ qualified workforce, and they also have the opportunity to save on the cost of searching for new employees.

What are the Benefits of the On-the-Job Training Program?

With the İŞKUR (Employment Agency) on-the-job training program, employers can save as much as the cost of a minimum wage by including the candidates they want to hire after meeting the necessary conditions. Based on that, employers can have the opportunity to see the candidates while working in the field, and they will have the opportunity to train them according to their own corporate culture and needs. If the program ends positively, they will also be able to benefit from SSI incentives for the new employees.

You can contact us for detailed information about incentives.

To protect employment, support business continuity and ensure the sustainability of economic vitality in the labor-intensive sectors of the manufacturing industry, KOSGEB (Small and Medium Enterprises Development and Support Administration) started to implement the Employment Protection Support Program, which is offered on a non-refundable basis.

What is Banking and Insurance Transactions Tax?

The Banking and Insurance Transactions Tax (BSMV) is a type of indirect tax levied on revenues generated from transactions carried out by banks, insurance companies, and certain financial institutions.

Unlike many other taxes, BSMV is not calculated directly on the transaction amount itself, but rather on the income derived from the transaction, such as interest, commissions, fees, and similar financial gains. BSMV is regulated under the Expenditure Taxes Law No. 6802 and plays an important role in Türkiye’s financial and tax system.

An amendment made in Article 102 of Law No. 5510 on Social Insurance and General Health Insurance stipulates that employers who submit declarations and documents to the Institution after the legal deadline, under certain conditions, will receive a discount equivalent to one fourth of the administrative fine amount. This regulation is understood to aim at encouraging employers to fulfill their obligations retroactively.

The tax system plays a critical role in maintaining the economic balance of society and financing public services. Tax brackets, updated annually, determine the financial obligations of taxpayers. Among the most anticipated topics of the working population regarding the 2025 tax regulations are the 2025 tax brackets. In this article, we have summarized key topics such as income tax, tax brackets, and how tax brackets are calculated for you.

The Occupational Health and Safety Law No. 6331 imposes significant obligations on employers to ensure occupational health and safety services, taking into account hazard classifications.

Under the law, the employer is responsible for ensuring the health and safety of employees related to their work. The scope of these obligations is regulated in Article 5 and includes the following:

What is an Internship?

An internship is a temporary work experience that provides students or recent graduates with practical, hands-on knowledge and skills in a specific field or industry. These opportunities can be paid or unpaid, full-time or part-time, and can last from a few weeks to several months. They allow students to apply what they've learned in school to the business world while also making valuable connections and gaining insight into their chosen profession. In essence, internships are a valuable stepping stone for individuals seeking to jump-start their careers and gain a competitive advantage in the job market. The rise of remote and hybrid working in today's business world has increased online (remote) internships and made them the new norm.

What Is Unemployment Fund (Unemployment Allowance)?

Unemployment fund, or as specified in the law, "unemployment allowance," is a payment provided to individuals who have previously worked as insured and meet all the conditions specified in Law No. 4447 (In Turkish) to financially support them to prevent income loss when they become unemployed. Unemployment fund is provided to insured individuals for a specific duration and amount during the period of their unemployment, based on certain conditions as specified in the law. The purpose of providing unemployment funds is to ensure that the individual who becomes unemployed can sustain their own and their family's livelihood during the period of unemployment.