Our team would like to tell you about a relatively new form of tax control – tax monitoring.
Its essence lies in the fact that traditional office and field tax audits are replaced by online interaction based on remote access to the taxpayer’s information systems and its accounting and tax reporting, respectively, this method of providing data to the tax authority allows you to promptly coordinate with it issues on taxation of committed and planned operations.
According to paragraph 3 of Art. 105.26 of the Tax Code of the Russian Federation, as amended by Law No. 470, organizations can switch to tax monitoring if, based on the results of the previous year, the following conditions are simultaneously fulfilled:
Currently, in order to switch to tax monitoring, organizations must submit an application for it no later than October 1 of the current year. Accordingly, if the tax authorities make a positive decision, then the monitoring period will be the next year, that is, the procedure will begin to apply from January 1 of the next year, and will end on October 1 of the year following the monitoring period.
209 Russian companies are already using a new form of tax control. Tax monitoring in Russia is needed to make the system more open and competitive, reduce the administrative burden on business, and increase the efficiency of tax control through digitalization.
The independent auditing company Sterngoff Audit is always ready to answer all your questions by e-mail info@sterngoff.com.
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