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Can CPAs be on the board of directors of a building society that is exempt from corporate tax?

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According to Article 47 of the Regulation on Working Principles and Procedures of Certified Public Accountants and Sworn Certified Public Accountants;
Professionals who hold a CPA License may serve as members of the boards of directors and audit committees of the construction, development and consumption cooperatives and aid funds of which they are members and which are exempt from corporate tax.

Relevant Article;
Jobs Compatible with the Profession

Article 47 – The following jobs are compatible with the profession and there is no harm in doing them.

a) To act as an expert witness, liquidator, board member of charitable and scientific organizations,

b) To be a partner in limited and joint-stock companies, a limited partnership in limited partnerships or to act as an auditor,

c) To act as a member of the board of directors and audit committees of construction, development and consumer cooperatives and aid funds of which members of the profession are members and which are exempt from corporate tax,

d) To give lectures for education and training purposes, provided that they are not employed as permanent staff,

e) To write articles and articles in newspapers and magazines, provided that they are not regular,

f) To participate in seminars and conferences,

g) (Annex: Official Gazette-21/11/2007-26707) To engage in all kinds of written and visual arts and literary activities.


Source: Istanbul Chamber of Certified Public Accountants
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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