Tax Accounting Projects

One of the largest holdings in the car industry

>  made recommendations on the tax accounting system regarding the distribution of functions and powers between key departments

A large gas transport and processing company

>  Analyzing the company’s standard on accounting for expenditures on natural resources development (profit tax) in 2005

>  Analyzing the accounting policy “Zero Rate VAT” in 2005

A company involved in the gas transport system in Russia’s Central Federal District

FBK built up the company’s tax accounting system by stages, developed a tax accounting implementation technique and implemented an information system.

Our experts:

>  set up the tax accounting system

>  made changes in the current tax accounting system caused by amendments to Article 25 of the Russian Tax Code

>  assessed software products for their ability to fulfil tax accounting requirements in order to select the optimal software products

>  built up a computer-aided system to aggregate and consolidate tax accounting registers

The tax accounting system installed allowed its users to computerize its tax accounting and reporting, including:

>  automated data exchange between the central and local offices

>  automated consolidation and aggregation of data from tax registers (analytical and synthetic)

>  data formation and tax base calculation for profit tax returns

>  control reconciliation of bookkeeping and tax accounting data

>  formation of the company’s fixed assets register for taxation purposes

>  friendly facilities for analyzing and reconciling interrelated tax indices

A large fuel and energy holding

>  Developing a standard tax accounting model for oil refineries, including the organizational and methodology components of the accounting policy (a list of elements of the accounting policy for tax purposes), the technical section of the accounting policy (a scheme for correlating registers, a mechanism for preparing profit tax returns, a list and forms of consolidated, synthetic and analytic tax accounting registers, guidelines on filling in registers, a document flow scheme for tax accounting registers). Consulting on the tax accounting project in the form of project meetings.

>  Comparative analysis of the provisions of Article 25 of the Russian Tax Code before and after adoption of Federal Law No 57-FЗ dated 29 May 2002 “On Changes and Amendments to Part 2 of the Russian Tax Code and some other regulations of the Russian Federation”

>  Comparative analysis of the provisions of Article 25 of the Russian Tax Code before and after adoption of Federal Law No 58-FЗ dated 6 June 2005 “On Changes to Part 2 of the Russian Tax Code and some other tax and duties regulations of the Russian Federation”

One of the largest mining companies

>  Presented an analytical report with the rationale for an agreement to be concluded with a developing country for avoiding double taxation and the possible effects of such an agreement

>  Legal support for the issue of the company’s Eurobonds

>  Tax planning and tax optimization projects

>  Comparative analysis of the provisions of Article 25 of the Russian Tax Code before and after adoption of Federal Law No 58-FЗ dated 6 June 2005 “On Changes to Part 2 of the Russian Tax Code and some other tax and duties regulations of the Russian Federation”

>  Making complex recommendations for establishing the optimal tax accounting policy with allowance for changes in legislation, law enforcement and recommendations received from financial authorities

The largest Russian mining and smelting group

>  Developing methodology papers on the tax accounting system set-up

>  Developing options for the separate accounting of VAT input in export production and domestic production (2005)
 
For more information on Tax Advice, please contact Tatiana Matveicheva.

For more information on our Tax Advice Services for metallurgical and mining companies and cross-border taxation, please contact Alexander Sotov.

Tax Advice Services