Obligation to Keep Books in Limited Companies and Joint Stock Companies

Obligation to Keep Books in Limited Companies and Joint Stock Companies

In Turkey, both limited companies (Limited Şirket or Ltd. Şti.) and joint stock companies (Anonim Şirket or A.Ş.) are legally obligated to keep books and maintain accounting records in accordance with Turkish commercial and tax laws. The requirements for bookkeeping and accounting practices are outlined in the Turkish Commercial Code, the Tax Procedures Law, and related regulations. Compliance with these regulations is crucial for ensuring transparency, accurate financial reporting, and adherence to legal standards. Failure to meet these obligations may result in penalties and legal consequences for the company. Therefore, it is essential for businesses to establish and maintain proper bookkeeping practices in accordance with the stipulated legal requirements to fulfill their obligations and operate within the framework of Turkish commercial and tax laws.