Tax screening
An owner can rarely check their own reporting, because it is prepared by the same department that answers for it. We look at the reporting from the outside and say whether anything needs to change – before the tax inspectorate or the other side of a deal takes up the question.
What is included
- A review of the tax regime applied and the actual tax burden for the period under review
- Incentives the company is entitled to and does not use, with an estimate of the effect of each
- Overpayments for past periods that can be refunded or offset
- Discrepancies between the accounting data and the reported figures
- Areas of possible additional assessments, with the cause of each
- A conclusion on whether there is potential to reduce the burden and of what order of magnitude
- A list of actions to start with, in order of payoff
Case studies
Review of a manufacturing group’s reporting before a deal
The request
A group of companies with revenue of 1.7 billion roubles was preparing for a deal and needed an independent assessment of what its own reporting shows. The in-house department could not give one, since it had prepared that reporting itself.
What we did
We requested the accounting and tax reporting for the period, compared the accounting data with the reported figures, checked the structure of income and expenses and the regimes applied, and singled out the discrepancies and the areas of potential additional assessments.
The result
The client received a report stating, for each discrepancy, what caused it, what risk it poses and what needs to be done before the deal. The owner entered the negotiations knowing the weak points of the reporting before the other side found them.
Review of a sole proprietor’s compliance with taxpayer obligations
The request
A sole proprietor had been in business for several years and was not sure that all taxpayer obligations were being met. Asking the accountant gave no answer, because the question was not about bookkeeping but about the scope of the obligations as such.
What we did
We reviewed the regime applied and the actual activity, compared them with the scope of obligations for each tax and contribution, and checked the deadlines and the procedure for filing reports.
The result
The client received a legal opinion with an exhaustive list of the obligations, the deadlines and the consequences of breaching them. The uncertainty that had made the proprietor postpone expanding the business was removed.
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