Where we have depth
Our partners built their careers at Mazars and PwC working with companies in defence, energy, construction, services and information technology, and the practice has kept that centre of gravity.
Defence and aerospace
Long-cycle contracts, offset obligations, project accounting and revenue recognition over time, export control documentation, and a customer base that audits its suppliers. Percentage-of-completion accounting and the Turkish tax treatment of long-term construction and manufacturing contracts are the technical core here.
Energy
Licensing under the Energy Market Regulatory Authority, project finance reporting, renewable generation incentives, and the accounting for long-term power purchase arrangements. Foreign investors in this sector usually arrive with development-bank financing and IFRS reporting requirements attached.
Construction and contracting
Turkish tax law treats construction and repair work spanning more than one calendar year under its own regime, with 5% withholding and profit determined only on completion. Getting this wrong distorts every interim figure. Add subcontractor management, stamp duty on contracts, and site-based social security registration.
Manufacturing and industry
Cost accounting, inventory valuation, customs and the inward processing regime, the investment incentive certificate lifecycle, and — from 2026 — the manufacturing-specific corporate tax and social security premium treatments that differ from the service sector.
Technology and software
Technology development zone exemptions and their venture capital contribution obligation, R&D centre incentives, income tax exemption on qualifying personnel wages, and the treatment of software developed in Türkiye and licensed abroad. Also the area where the work permit rules are most favourable, thanks to the IT-specialist exemptions.
Services
Transport and freight, broadcasting, communications, retail, advertising and professional services. Usually the sector where withholding tax on cross-border payments and the VAT treatment of exported services do the most damage if handled casually.
Utilities
Water and electricity — regulated pricing, heavy fixed assets, and reporting obligations to sector regulators alongside the ordinary ones.
Insurance, reinsurance, banking and finance
Subject to Banking and Insurance Transaction Tax rather than VAT, taxed at a higher corporate income tax rate of 30%, and supervised by the BDDK or the Capital Markets Board. A different compliance universe from ordinary commercial companies.
Non-profit organisations
Associations, foundations and their economic enterprises, where the boundary between exempt and taxable activity is where the risk lives.
What is the same everywhere
Whatever the sector, a foreign-owned Turkish entity has the same four structural problems: statutory books that must satisfy a Turkish tax inspector, management figures that must satisfy a head office in another accounting language, a payroll whose parameters change every January, and a filing calendar that punishes lateness.
Those are the problems we are built to solve. The sector determines which technical questions sit on top.