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Tax Review

Everyone who is involved in any business activities – entrepreneurs or international corporations – has thought about doing a tax and legal review (tax audit).

Firstly, tax legislation is constantly changing, and the control of tax authorities is increasing. Secondly, while seeking ways to reduce expenses, companies are trying to save on paying taxes, since tax payments compose a substantial part of a their expenditure. Under these circumstances, a taxpayer is particularly interested in doing a tax and legal review (tax audit) of their business activities.

A tax and legal review (tax audit) is an internal examination, during which tax and legal experts are verifying if the taxpayers are calculating taxes and fees correctly and if tax optimisation used by clients is up-to-date.

During a tax and legal review (tax audit), the following jobs are carried out:

  • Verification of the calculation of taxable base of main taxes: income tax, VAT, Unified Social Tax (ESN), Personal Income Tax (NDFL), property tax and transport tax;
  • Assessment of the conformity of the tax calculation system with current legislation;
  • Analysis of tax optimisation methods used by taxpayers;
  • Development of new opportunities to reduce tax liabilities.

Korpus Prava has a broad experience in performing tax and legal reviews (tax audit). Uponclient’s request, Korpus Prava will conduct a tax and legal review of either a separate tax or a tax accounting system in general, including all tax payments of the company. In addition, both a separate line of business activity and a total tax liability of a group of companies as a whole can become an object of tax and legal review (tax audit). Besides, tax audit (legal and tax review) can be conducted not only in relation to client’s current activities but also in relation to their planned activities.

Upon completion of the review, theclient is provided with a report that outlines the answers to the questions about company’s present or future activities:

  • Tax implications of business operations;
  • Errors made in calculating a taxable base; recommendations for correction of the errors;
  • Tax and property risks of current activities;
  • Recommendations for designing a document flow system and an optimal structure of a company or a group of companies that will help to reduce tax and property risks (including the calculation of an anticipated tax burden).

Upon client’s request, Korpus Prava can also perform regular tax and legal reviews. A tax audit (tax and legal review) can be conducted as an independent job and as a special audit assignment. Besides, a tax and legal review can serve as a preparatory stage for business reorganization or restructuring.

Upon completion of the review, Korpus Prava specialists will provide support for the clients on the implementation of developed recommendations for other restructuring projects and ongoing consulting and/or audit.