Granit Sworn-In Certified Public Accountants

Innovative Business Mind on Financial Risk Assessment, Planning and Management

GRANIT Sworn-in CPA provides tailored financial risk management services, including but not limited to new company formation, accounting plan and systems, foreign employment, and payroll management, international taxation, tax audit and certification, transfer pricing, benchmarking and documentation, customs and tax valuation, prevention of double taxation, Base Erosion and Profit Shifting (BEPS), taxation of digital economy and blockchain solutions, tax disputes prevention and resolutions, IFRS-International Accounting and Reporting, due diligence and business advisory services in fiscal nature

  • International Taxation

     International Taxation 

  • Tax & Accounting Advisory

     Tax & Accounting Advisory 

  • Tax Audit And Certification

     Tax Audit And Certification 

  • Taxation of Digital Economy and Blockchain Solutions

     Taxation of Digital Economy and Blockchain Solutions 

  • Tax Planning - Base Erosion and Profit Shifting (BEPS)

     Tax Planning - Base Erosion and Profit Shifting (BEPS) 

  • VAT Refunds

     VAT Refunds 

  • Tax Dispute Prevention and Resolutions

     Tax Dispute Prevention and Resolutions 

  • Transfer Pricing Planning

     Transfer Pricing Planning 

  • Functional Analysis

     Functional Analysis 

  • Benchmarking / Economic Analysis

     Benchmarking / Economic Analysis 

  • Advance Price Agreements

     Advance Price Agreements 

  • Transfer Pricing Documentation

     Transfer Pricing Documentation 

  • Prevention Of Double Taxation

     Prevention Of Double Taxation 

  • Customs and Tax Valuation

     Customs and Tax Valuation 

  • Transfer Pricing Dispute Solutions

     Transfer Pricing Dispute Solutions 

  • Customs Regimes

     Customs Regimes 

  • Customs Valuations

     Customs Valuations 

  • Customs Compliance

     Customs Compliance 

  • Customs Dispute Solutions

     Customs Dispute Solutions 

Granit Sworn-In Certified Public Accountants

Insight

COVID-19 is a Game Changer for Business
Murat TENEKECIOGLU, Sworn-in CPA

World Health Organisation declared COVID-19 a pandemic on March 11, 2020.

The coronavirus outbreak threatens to become one of the tragedies faced by humanity, and a major economic disruption in our history. As confirmed cases of COVID-19 spread globally, it has the potential to cause deaths, volatile markets, undermine economies, overwhelm health systems, deplete the value of assets and to trigger social change. Functioning as a circuit breaker, coronavirus seems to test the structural weaknesses of global world. It is not only moving and expanding quickly, but also introducing new realities and new normal. We have witnessed so far that coronavirus hit the global economy, global shares and stock markets, employment level, travel industry and consumer confidence at record level. Coronavirus has also driven oil prices down at record level for the past two decades. Uncertainty about the future of global trade and investment tensions remains high and could spread further. UNCTAD said the economic uncertainty COVID-19 pandemic has sparked would likely cost the global economy USD 1 trillion in 2020. OECD, World Bank and IMF have all agreed about considerable shrinking in world economy. ILO projected up to 25 million workers would lose their job in 2020 and said the COVID-19 pandemic is having a catastrophic reduction on working hours and earnings equivalent to a-three month of 195 million full time jobs. This implies many of the workers will face income losses and deeper poverty. According to the Nouriel Roubini ‘coronavirus pandemic has delivered the fastest deepest economic shock in history.’ Mohamed El Erian said ‘the world economy will go into recession in 2020. Of course, things never stay the same but this time, we all are faced with unusual range of risks, uncertainties and dilemmas on not only business, but health, economy and social behaviour. Due to the pandemic we are in very grave period for some old habits and traditions. We feel birth pain for the new, but we do not know exactly what the new is. Future is uncertain. The pandemic also triggers new events, ideas, realities, rules and procedures that effects a significant shift in our current manner of doing and thinking new normal.

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