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What Should Be Considered While Transferring a Company in Turkey?
Today, it is preferable for entrepreneurs to take over a company that owns these documents instead of establishing a company from scratch due to the advantages of brands, licenses, completion documents etc. that companies have. In such cases, what should be taken into consideration in order to minimize the risk against damages that may arise after the transfer?
Taxes, SGK, Chamber of Commerce, Debts to Municipality and other institutions;
Of course, the first situation to be checked is to question the tax and SGK debt as of the transfer date of the company. With the passwords owned by the company, a letter indicating the debt status can be obtained through the tax office and SGK debts over the internet. Especially to be taken regarding the type SGK should be considered to be general in Turkey. In the article to be received regarding tax debt, due to the fact that the overdue debts will not be visible, further inquiries should be made for the installments and structured debts. Information can be obtained from the relevant institutions for the chamber of commerce, municipality and other institutional debts.
Examination of declarations, invoices, documents and records;
All declarations, invoices, other documents and records must be examined for 5 years backwards. It should not be forgotten that the company is responsible for the tax penalty that may arise if there is a deficiency in the declarations given or if it is corrected after the expiry date, which may cause a tax penalty in the official records of the company and if the determination is after the transfer date.
Compensation status of employees
The responsibility of employees who are entitled to compensation as of the date of transfer passes to those who transfer. The transferee is also responsible for the compensation of the employees for 2 more years as of the transfer date together with the transferee. In order to avoid any dispute in this regard, all rights of the employees can be paid by the terminator of the employees as of the transfer date and the contract can be started again with the transferee.
Other risks related to SGK liabilities in the workplace;
It is extremely important whether the salaries of the employees of the transferred company are declared at their actual wages, whether their payrolls, wage account papers are signed, and whether the personnel documents and other necessary documents are complete. It should not be forgotten that after the transfer date, the employee may request their rights by suing the court for a period before the transfer, as well as a result of the inspections to be carried out by the SGK and large penalties may arise.
Status of stock and fixtures;
Accuracy should be determined by making a census regarding the stocks and fixtures appearing on the balance sheet of the transferred company and the fixtures and stocks that actually exist. Evaluation should be made according to the difference between the ones that appear to be registered and the real situation.
A reconciliation must be made for all receivables and payables;
The accuracy of all customer receivables and debts to suppliers in the official records of the company should be checked and evaluated according to the results.
The relationship of the partners with the company should be examined;
n the balance sheet of the company, whether there is a debt relationship between the company and the partner should be examined and an evaluation should be made according to the result. It should not be forgotten that if the company owes the partner, it may request this debt after the transfer date.
Other issues to be considered during the transfer of the company;
- Information about checks and loans should be obtained in banks. Whether check and voucher protests are available, the credibility of the company and the status of the credit rating should be learned.
- It should be checked whether there is any execution, receivable follow-up or lawsuit filed against the company, and whether there is a pledge on deed and vehicles.
- The contracts made by the company should be examined.
- It should be checked whether the company has unpaid capital debt. If the company partner has any unpaid capital debt, this debt can be transferred to the transferee.
- A protocol should be arranged between the transferor and the transferee in return for any losses that may not arise in the official records.
- After the transfer, the e-notification, e-declaration and internet tax office passwords must be changed.
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