In accordance with the Turkish Commercial Code (“TCC”) numbered 6102, every natural and legal merchant is obliged to keep and archive commercial books for the specified legal period (Art. 18/1 of the TCC). Merchants will face various criminal sanctions when these commercial books are not available, not kept, not archived in accordance with the legislation.

Due to the lack of freedom of bookkeeping in Turkish law, merchants are required keep commercial books and archive them for the specified legal period in order to keep track of their asset situations, to inform the banks and related institutions where necessary, to keep track of their commercial transactions, to able to verify their commercial transactions, to provide their business books in order to facilitate the audits to be carried out by the State and to carry out their administrative activities. This issue is clearly stated in article 82 of the TCC, commercial books can be listed as follows: daybook (article 64/3 of the TCC), general ledger (article 64/3 of the TCC), inventory book (article 64/3 of the TCC), share book (article 64/4 of the TCC). ), the board of directors (Article 64/4 of the TCC) and the general assembly and negotiation book (64/4 of the TCC article).

Although the merchants are not obliged to keep these commercial books personally and can transfer the bookkeeping to someone else, the records recorded in the books will make a judgment as if they were passed by the merchant. Therefore, it is important to be careful and attentive in these situations where the responsibility of the merchant is so high.

The scope of the commercial bookkeeping obligation of merchants can be outlined as follows:

  • Keeping All Books Intended in Legal Regulations
  • Keeping Books In Compliance With The Law / Registration Scheme

In Turkish Law, there are other rules regarding commercial bookkeeping and archiving obligations. For more information, you may please contact us.

Written by Faruk Aktay and M. Husrev Ayten.