Are you looking for PEO Turkey? Read below to discover the reasons for choosing AKG SARL Payroll Turkey company.
Why choose PEO Turkey ?
100% local support & management thanks to the network of 25 AKG SARL PEO Turkey agencies throughout Turkey.
Administrative, accounting and tax management of your activity: invoicing, collection, payment of social security contributions.
You are greeted by a single contact and receive e-learning training.
ONLINE MANAGEMENT TOOL
Your dedicated online management interface, accessible 24 hours a day, 7 days a week. Monitoring of contracts, invoices, expense reports, salary slips etc.
Cash advance with payment of your salary on the 5th of the month.
REDUCED MANAGEMENT FEES
From the very 1st month, thanks to our innovative remuneration: decreasing management fees for each invoice!
You and your family have premium coverage.
TRAINING & COACHING
Help in the commercial development of your business activity & get in touch with partner companies.
BUSINESS COMMITTEE, RESTAURANT TICKET
A C.E. with hundreds of private offers reserved, restaurant ticket and other services …
100% local support with our 1st PEO Turkey network
PEO Turkey is THE solution for entrepreneurship, chosen by 90,000 self-employed individuals in 2019. This status guarantees you the freedom of a freelancer with the social security coverage of the salaried scheme:
Social Security, Mutual
Administrative constraints are taken care of and there are no structural costs. The ideal setting to start your business. Istanbul HR Solutions supports you in the development of your projects, to carry out your jobs with complete peace of mind: Personalised advice, network evenings, workshops, training etc.
Join us: Just a simple registration, and you can start working within 24 hours!
PEO Turkey : What you should know about the economic context in Turkey
In case you are looking for PEO Turkey, please note that the Turkish economy showed signs of recovery in 2019, after experiencing a recession in the second half of 2018 as a result of a currency crisis. Public and private consumption increased in 2019, against a background of credit growth and expansionary fiscal policy, while the Turkish lira regained some of its value against the main currencies after reaching a record low in August 2018. Consumer and purchasing manager confidence returned to pre-2018 levels. According to the IMF, growth only rose to an average level of 0.9% in 2019, compared to 2.8 % in 2018. According to the IMF’s updated forecasts of April 14, 2020, due to the appearance of COVID-19, GDP growth should fall to -5% in 2020 and rise to 5% in 2021, subject to the post-pandemic global economic recovery.
According to the latest figures from the Turkish Ministry of Treasury and Finance, the country’s budget has a public deficit of 12.4 billion lira ($2.09 billion USD) between January and November. Inflation was further contained in 2019 after reaching peaks in the third quarter of 2018, following the depreciation of the currency. This made imports and domestic products that require semi-finished materials or materials more expensive raw materials from abroad. Public authorities have taken steps to limit the impact of inflation by reducing the special consumption tax rate for fuels, while municipalities have set up displays that sell basic staples at lower prices in the markets, ahead of the local elections in March 2019. According to IMF estimates, inflation needed to fall to 15.2% at the end of the year against 16.3% in 2018 (11.8% according to the ‘Turkish Statistical Institute). The inflation rate estimates for 2020 and 2021 are 12% and 12% respectively. High inflation, combined with other macro-economic imbalances (mainly related to the current account deficit) nevertheless pushed the government to adopt a 2019 budget including several austerity measures. As a result, the current account deficit had to increase rapidly, from 2.7% of GDP to 1.1% of GDP in 2019. However, the deficit should widen again in 2020-21, in the context of a recovery expected from imports (0.4% in 2020 and -0.2% in 2021). At the same time, the country’s manufacturing index began to show year-on-year growth in September 2019, following rapid and uninterrupted declines in this index since the third quarter of 2018.
The unemployment rate, which fell to 11% at the end of 2018, was expected to increase to 13.7% by the end of 2019 (13.4% in October 2019 according to the Turkish Statistical Institute). Youth unemployment, which had dropped to 19.3% at the end of 2018, rose again to 25.3% in the fourth quarter. Wage inequality and the size of the informal sector are persistent problems. The IMF predicts that the unemployment trend will be strongly affected by the negative economic impact of the COVID-19 pandemic, with the rate being currently estimated at 17.2% in 2020 and decreasing slightly to 15.6% in 2021.
All of these reasons make PEO Turkey a good solution for foreign companies and employees in this country.