What to review before the year closes. Most problems noticed in December could have been fixed in November; by January they cannot. Your ticks are stored in this browser only and never sent to a server.

We sell abroad or buy services from abroadTick this to add the cross-border sections to the list.

Income, costs and documents

The foundation of the close. A missing document cannot be booked as a cost after the year ends.

All 2026 income has been recordedIncluding invoices issued in December but collected in January. Income belongs to the period it was earned, not collected.
All cost documents have reached accountingReceipts in pockets, in inboxes, or paid on a personal card. A cost without a document is not a deductible cost.
Foreign platform and subscription invoices collectedCloud, software licences, advertising and payment-provider invoices usually sit only in email and get missed at year end.
Items not belonging to this period have been separatedPrepaid annual subscriptions, insurance and rent are apportioned across the periods they cover.

Profit and estimated tax burden

Seeing the number in December beats learning it in January. In December you can still act on it.

Estimated year-end profit has been calculated
Reconciled against the advance tax filingsThe gap between what was filed during the year and the year-end position is corrected in the annual return. You need to know its size now.
Cash has been planned for the tax paymentSee the tax calendar page for the dates; corporate and annual income tax deadlines differ.
Carried-forward loss position checked

Service export deduction

The deduction applies to earnings, not turnover, and its conditions must have been met during the year.

Customer residency status is recordedThe split is built customer by customer, not product by product. Reconstructing it at year end is the weakest part of the file.
Costs are tagged as direct or sharedShared administrative costs are apportioned by the foreign revenue ratio; try it with your own figures in the service export deduction calculator.
Repatriation of the earnings is being trackedThe earnings must reach Turkey by the filing deadline. A balance sitting with a payment provider can break this condition.
Contract, invoice and cash flow tell the same story

Exemptions and incentives

In-scope and out-of-scope earnings are separatedIn a technopark the exemption covers earnings from in-scope activity carried out in the zone, not all company income.
Payroll incentive documentation is complete
Any fund-allocation obligation has been checkedTechnopark companies above the exemption threshold have a venture capital fund obligation tied to year end.
Need for a YMM certification report assessed

Closing entries

Depreciation booked
Provisions reviewed
Stock count performed and recorded
FX balances have been revaluedFX cash, bank, receivable and payable balances are revalued at period end.

VAT

Carried-forward VAT verified
Non-deductible VAT separatedVAT incurred on exempt transactions needs separate assessment.
Withholding-VAT transactions checked
Any refund process has been started

Services bought from abroad

The most commonly missed heading. Buying a service from abroad can create obligations for the buyer.

Reverse-charge VAT obligation assessedA service bought from a foreign provider and used in Turkey can create a VAT obligation for the buyer.
Withholding tax obligation assessedDepends on the nature of the payment and any double tax treaty; must be reviewed item by item.
Provider contracts archived

Cash and bank

All bank accounts reconciled
Cash balance is realisticA cash balance that could not physically exist is among the first items questioned in an inspection.
Shareholder current account reviewedThis is where the line between company money and shareholder money becomes visible; investors look here first.
Payment provider balances recorded

E-invoice, e-archive, e-ledger

Mandate status against turnover thresholds checkedCompanies crossing the turnover threshold this year become subject in the following period; preparation takes time.
E-ledger certificates filed on time
Electronic document archive is in order

Preparing for next year

Filing calendar preparedBuild your own obligation list from the dates on the tax calendar page.
Next-year budget and cash plan ready
Company structure reviewedIf the shareholding, entity type or incentive regime needs to change, the turn of the year is the natural threshold.
Expiring contracts and certificates listed