Criteria for classifying enterprises as the largest taxpayers in 2021

Payer classification

In accordance with Art. 19 of the Tax Code, taxpayers are individuals and legal entities who are responsible for making mandatory payments to the budget. Legal entities, in turn, are divided into foreign and Russian, and individuals - into those with and without the status of individual entrepreneurs.

Enterprises operating in specific areas are classified into a relatively separate category of entities. For example, we are talking about the gambling business, mining, etc. In these areas, separate types of taxes are established: on the gambling business, mineral extraction tax, etc.

Some experts identify persons who have the right to use tax benefits as a separate category of payers.

There is another category of subjects. It includes the largest taxpayers. The list of these individuals is quite impressive.

Further in the article we will look at the criteria by which taxpayers are classified as the largest, and what are the reporting features of such persons.

List of the largest taxpayers

The largest taxpayer is. It is followed by GAZPROM and LUKOIL. Along with oil production, Sberbank of Russia was included in this list.

The main responsibility is to notify the tax authorities of changes occurring in the organizational structure. This must be done within one month.

A similar period is provided in situations where a legal entity creates separate divisions within the state.

The news release on the implementation of social projects by large taxpayers is presented below.

Subjects' rights

They are reflected in Art. 21 NK. According to the norm, taxpayers have the right to:

1. Receive information from the Federal Tax Service Inspectorate at your place of registration about current fees and taxes, reporting forms, and advice on their preparation. These services are provided to subjects free of charge.
2. Receive explanations from the Ministry of Finance of the Russian Federation, tax structures of municipalities and constituent entities of the Russian Federation on issues of application of tax legislation.
3. Apply tax benefits enshrined in legislation if there are appropriate grounds. This right is exercised in the manner established by the Tax Code and federal regulations.
4. Receive installments, deferments, and tax credits.
5. Participate in tax legal relations personally or through your representative.
6. Be present when regulatory authorities perform on-site inspections.
7. Provide the Federal Tax Service with clarifications and explanations on the facts of calculation/payment of taxes, reports of inspections carried out.
8. Require that employees of regulatory structures comply with the provisions of tax legislation.
9. Receive copies of audit reports, decisions of tax authorities, tax notices, requirements for tax calculations.
10. Do not comply with illegal demands of controlling structures.
11. Challenge acts of tax authorities, decisions, actions/inactions of employees of the Federal Tax Service.
12. Demand compensation for losses resulting from illegal actions of controlling structures.
13. Participate in the consideration of inspection materials, as well as other acts issued by the Federal Tax Service.

These rights apply to all taxpayers, including the largest ones. At the same time, the activities of the latter are under particularly close attention of regulatory structures.

Largest taxpayers: determination criteria

The criteria by which a subject is classified into the category under consideration are established by the Federal Tax Service. These criteria are periodically adjusted depending on the developing economic situation in the country. The current legislation establishes a list of persons, a list of the largest taxpayers, which provides for the delimitation of their control in accordance with the subject of taxation at the appropriate levels (regional, federal).

To classify a payer as the largest, the following are taken into account:

1. Indicators of financial and economic activity (FED). The value is determined on the basis of information from the accounting and tax reporting of the enterprise.
2. Signs of interdependence with other participants in tax legal relations, indicators indicating the level of influence of the company on the activities of the interdependent structure and the results of its work.
3. The economic entity has a special permit (license) to conduct a certain type of activity.
4. Results of continuous monitoring of the analyzed enterprise.

"Regional" changes

The order of the Federal Tax Service of the Russian Federation clarified financial and economic indicators at the regional level:

Thus, for the largest regional taxpayers, the lower threshold of the total amount of income received has been increased and an additional criterion has been introduced - the average number of employees.

To become the largest taxpayer, the above conditions must be met at the same time. The changes introduced by the Order of the Federal Tax Service of the Russian Federation will lead to a reduction in the number of largest taxpayers at the regional level.

Thus, when summing up the results of the administration of the largest taxpayers in one of the regions (Chelyabinsk region), it was noted that as of July 1, 2014, the number of largest taxpayers was 264 organizations, which is 12 less than in 2013.

That is, the number of largest taxpayers in the region is already decreasing, and taking into account the new criteria in an unstable economic situation, their number will be even smaller. And given that payments from the largest taxpayers make up a large share of the region’s budget (up to 80-90%), the “loss” of budget revenues will also affect the region’s social programs.

In addition, clause 5 of the Order of the Federal Tax Service of the Russian Federation directly stipulates that the largest regional taxpayers in terms of financial and economic activity do not include organizations under special regimes.

But already now, restrictive barriers have been established in the relevant chapters of the Tax Code of the Russian Federation devoted to the application of special tax regimes. So, for example, organizations classified as the largest taxpayers do not have the right to apply UTII (clause 2.1 of Article 346.26 of the Tax Code of the Russian Federation, Letter of the Ministry of Finance of the Russian Federation dated 05.08.2009 No. 03-11-06/3/204).

Organizations using the simplified tax system do not meet the criteria established for major taxpayers based on financial and economic indicators. The introduction of a special tax regime in the form of the simplified tax system already implies restrictions on the amount of revenue, the number of employees, and the cost of fixed assets (Article 346.12 of the Tax Code of the Russian Federation).

AUDIT OF ENTERPRISE REPORTING

And only when the fact of interdependence and the ability to influence the economic results of another largest organization is established (section II of the Criteria, first introduced by Order of the Federal Tax Service of the Russian Federation dated April 24, 2012 No. ММВ-7-2 / [email protected] ), such taxpayers can be classified as categories of largest taxpayers. Interdependence between organizations is determined in accordance with the rules of Article 105.1 of the Tax Code of the Russian Federation. Let us recall that since January 1, 2012, Article 105.1 of the Tax Code of the Russian Federation established 11 grounds for recognizing organizations as interdependent.

The most difficult thing seems to be the calculation of the direct and (or) indirect participation of an organization in another organization (clause 1, clause 3, clause 2, article 105.1 of the Tax Code of the Russian Federation). Let us illustrate the calculation with a specific example.

Assignment of status

An enterprise can be classified as a major taxpayer (CT) based on the results of its work, considered for any 3 years before the start of the reporting period. Information for the current year is not taken into account.

It should be noted that the status of the largest taxpayer assigned to an enterprise is retained for 2 years after its activities ceased to meet the established criteria. In addition, the status can be maintained for 3 years. This is possible in the event of a reorganization of the largest taxpayer. The corresponding status is retained by companies formed as a result of this procedure. The three-year period includes the year of reorganization.

Types of organizations

Enterprises that are taxpayers may have federal and regional significance.

Federal level

In order for an organization to receive the status of the largest taxpayer, it must meet at least one of the conditions for restrictions on the total amount of accrued funds, income received, and the amount of assets.

Certain categories of taxpayers are guided by their own values. In particular, we are talking about companies engaged in the field of defense-industrial production, as well as strategic companies:

• amount under export contracts – 27 million rubles per year;
• revenue – from 20% of total revenue;
• average number of employees – from 100 people;
• share of state participation – from 50%.

Sometimes the Federal Tax Service decides to include in this list persons who do not meet a set of criteria.

Regional level

To classify a taxpayer into this category, he must meet all the conditions from the table, and they are less favorable. The Federal Tax Service has the right, as in the case of federal-level enterprises, to classify a regional-scale organization into this category, even if it does not meet all the criteria .

Loss of status

An enterprise ceases to be considered a major taxpayer if it has been declared bankrupt in court and bankruptcy proceedings have been initiated against it. The corresponding provision is enshrined in the order of the Federal Tax Service dated June 27, 2012. This rule, however, does not apply to credit organizations whose administration is carried out at the level of the Federal Tax Inspectorate for the largest taxpayers. They retain their status until forced liquidation.

Methodology

The assessment is based on data from the largest banks in Russia. In particular, those included in the TOP 100 in terms of the volume of their own assets at the time of data collection and compilation of the list.

The data was obtained from the official websites of credit institutions. More precisely, from the interim reports according to RAS for the third quarter of 2020. The figures themselves are taken from the statement of cash flows. Section – tax expenses.

Sources:

• Bank websites;
• Federal Tax Service - report in form 1-NOM as of October 1, 2021.

about the author

Dmitry Sysoev - higher education in economics from Sumy National Agrarian University with a degree in Organization Management. Analyst of the banking sector and microfinance market. Experience working in specialized commercial structures - both banks and microfinance organizations. For more than 5 years, he has been creating useful content for consumers of financial services and organizations - information and analytical articles on the banking sector and the microfinance market. [email protected]

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Indicators of financial and economic activity

For companies whose activities are monitored at the level of the Interregional Inspectorate of the Federal Tax Service for the largest taxpayers, the corresponding status is assigned if one of the following conditions is met:

1. The amount of taxes exceeds 1 billion rubles, and for companies operating in the service, transport or communications sectors - 300 million rubles.
2. The amount of income received is at least 20 billion rubles.
3. The total value of assets is not less than 20 billion rubles.

Additional criteria have been established for individual enterprises. In particular, military-industrial complex organizations under the control of the MI of the Federal Tax Service of Russia for the largest taxpayers receive the appropriate status if:

1. Investments of public funds account for more than 50% of all assets.
2. The average number of employees is more than 100 people.
3. The total value of contracts for the export of strategic products exceeds 27 million rubles.
4. The total amount of income from the export of goods is 20% of the total revenue.

Enterprises administered at the interdistrict tax level for the largest taxpayers receive the appropriate status if:

1. The amount of income reflected in f. No. 2, ranges from 2 to 20 billion rubles.
2. The total amount of contributions to the budget is 75 million rubles. – 1 billion rubles
3. The value of the enterprise's assets is 100 million rubles. – 20 billion rubles.
4. The average number of employees of the company is more than 50 people.

These taxpayers are considered the largest, regardless of the type of activity performed.

Results

To be classified as a small enterprise, a company must meet the criteria specified in Law 209-FZ. These include the average number of personnel, income from all types of activities and participation in the authorized capital. If all conditions meet the required values, the company automatically receives small status and is entered by the tax authorities into a special register of small and medium-sized businesses in Russia.

If you have any unresolved questions, you can find answers to them in ConsultantPlus. Full and free access to the system for 2 days.

Nuances

Indicators of financial and economic activity for enterprises controlled at the regional level can be established by the Inspectorate Directorates of the Federal Tax Service for the largest taxpayers of the constituent entities of the Russian Federation with their coordination with the Federal Tax Service of the Russian Federation.

It must also be said that organizations using special taxation regimes cannot obtain IP status.

Availability of permission (license)

Business entities that have received special documents from government bodies to conduct certain types of activities are controlled by the Federal Tax Service for the largest taxpayers. In this case, inconsistency (compliance) with other criteria for classifying an enterprise as a national economy (amount of income, amount of taxes, interdependence or staffing levels) is not taken into account.

Among the types of activities for which the presence of a license provides an economic entity with obtaining the status of a business owner, the following should be included:

1. Banking services.
2. Pension provision (in this case we are talking about non-state pension funds).
3. Pension and other types of insurance, reinsurance.
4. Services of brokerage companies.
5. Professional participation in the activities of the stock market.

Interdependency and Licensing

In the process of determining interdependence, the norms of Art. 105.1 of the Tax Code of the Russian Federation. This criterion can be applied in a situation where the taxpayer’s relationships affect the conditions or results of a key area of ​​activity.

In this situation, not only the taxpayer himself, but also the organization that is interdependent with him will be classified as the largest.

Companies that belong to the federal level deserve special attention:

• credit institutions;
• securities market participants working at a professional level;
• enterprises engaged in pension insurance and provision activities;
• companies engaged in insurance, reinsurance, and intermediary transactions.

Features of the relationship with the Federal Tax Service

In accordance with the requirements of the Tax Code, if the largest taxpayer has separate divisions, registration is carried out with all Federal Tax Service Inspectors at their location.

In case of a change in the organizational structure, the enterprise is obliged to notify the regulatory authorities. The corresponding notice should be sent to all Federal Tax Service Inspectors where registration was carried out. The largest taxpayer registered on the territory of the Russian Federation, creating separate divisions not in the form of representative offices or branches, or changing information about previously formed divisions, must send a corresponding notification to the regulatory authority within a month.

If an organization liquidates its structures operating on the territory of the Russian Federation, information about this is sent to the inspectorate within three days. This rule applies to all types of divisions, including branches and representative offices.

Information on the largest taxpayers in the Moscow region and other regions enters the unified database of the Federal Tax Service of the Russian Federation.

EXAMPLE No. 1

Organization A entered into an agreement with organization C. In this case, organization A owns 50% of the authorized capital of organization B, which owns 50% of the shares of organization C. Organization A owns 10% of the authorized capital of organization D, which owns 5% of the shares of organization C.

The share of indirect participation of organization A in organization C through organization D will be equal to 0.5% (0.1 x 0.05 x 100%). Thus, the total product of shares will be equal to 25.5%, therefore, organizations A and C are interdependent. Organization A is part of the same holding as organization C. Moreover, organization A influences the financial results of organization C (through the price mechanism). Organization C is the largest taxpayer at the federal level in terms of financial and economic indicators. Based on this, organization A can be classified as the largest taxpayer at the federal level, and its financial and economic indicators do not matter.

DEVELOPMENT AND DRAFTING OF CONTRACTS

Thus, the list of federal largest taxpayers will expand significantly while the number of largest regional taxpayers will decrease.

In addition to the negative aspects (increased attention from fiscal authorities), having the status of the largest taxpayer has a number of advantages in terms of using regional tax benefits. For example, the Law of the Chelyabinsk Region “On reducing the corporate income tax rate for certain categories of taxpayers” (No. 154-ZO dated June 23, 2011) establishes a reduced corporate income tax rate (but not lower than 13.5%) for organizations selling priority investment projects with a total investment volume for the project of at least 300 million rubles. In this case, the reduced rate will be calculated according to the formula, and the tax benefit will apply only to that part of the profit that is received from the implementation of the investment project, and not from the activities of the entire enterprise.

The Moscow government has submitted to the Moscow City Duma a draft law establishing a reduced income tax rate of 13.5% for oil companies, as well as consolidated groups of taxpayers. The adoption of the law will consolidate the presence and further attract the largest taxpayers of the oil industry to the city. According to the forecasts of the capital authorities, starting from 2015, the implementation of the bill will ensure an increase in budget revenues of the city of Moscow in the amount of at least 2 billion rubles per year (on the website of the Moscow government - mos.ru). Another positive aspect of the changes introduced by the Order of the Federal Tax Service of the Russian Federation is the reduction in the period for maintaining the status of the largest taxpayer. If the taxpayer no longer meets the established criteria in the reporting year, then, according to the new rules, the status of the largest taxpayer is retained for two years, and not three years (as was previously the case).

List of the largest tax payers in Russia

Despite significant fluctuations in oil prices and changes in raw material production volumes, Gazprom remains the main taxpayer in the Russian Federation. The latter will allocate about 2 trillion rubles to the budget by the end of 2021. This amount includes taxes from all 56 subsidiaries and will amount to approximately the same amount.

According to the Interregional Tax Inspectorate for the largest taxpayers, the main “donors” of the federal budget include Lukoil, TAIF-NK, Tatneft, Sibur, Novatek.

Significant funds into the budget come not only from oil and gas sector enterprises. Retail chains Magnit, Megapolis, and X5 Retail Group are also considered the largest taxpayers. The top twenty leaders also include metallurgical enterprises Norilsk Nickel, Severstal, UC Rusal, etc. One cannot fail to mention telecommunications enterprises, VimpelCom.

The total assets of each specified enterprise exceed 500 billion rubles. This data is provided by Forbes magazine for the current year 2021. The head offices of half of these companies are located in Moscow. Some enterprises are registered abroad (for example, VimpelCom).

The leading positions in terms of the average number of personnel are occupied by Gazprom and Rosneft. The first company employs about half a million people, the second has more than 250 thousand people. Among trading enterprises, the leader is Magnit. As of 2021, its staff numbers more than 300 thousand people.

Largest enterprises abroad

As a comparative analysis of companies in the USA and Russia shows, in both countries the leading positions in the list of large taxpayers are occupied by resource giants. In America, the list includes ConocoPhillips, Chevron and ExxonMobil.

Next on the list are enterprises that produce intellectual products. These include Intel, Apple, IBM, Microsoft. A large amount of funds comes to the US budget from banks, insurance companies, manufacturers of medicines, and cosmetic products. It cannot do without a network of fast food outlets. Thus, the world-famous company McDonald's contributes about $2 billion annually to the US budget.

Specifics of the tax burden

For regulatory authorities, the amount of tax deductions is largely a statistical tool and not a guideline for activity. As analysts note, this indicator has not become a key mechanism for ensuring the effective implementation of state fiscal policy. Meanwhile, some experts are confident that the authorities cannot help but see significantly different tax burdens. That is why regulatory authorities use indicators when planning desk audits.

It must be said that enterprises themselves are very sensitive to the disclosure of the size of their tax burden. Most of them refuse official comments. Unofficially, representatives of some economic giants talk about the tax burden being too high, but they do not risk speaking openly about this, since this could significantly damage relations with the Federal Tax Service.

If we talk about the leaders - enterprises of the oil and gas sector, then the general opinion about the load on enterprises was expressed, perhaps, by Igor Sechin, the head of Rosneft. In his interview on the Vesti 24 program, he spoke about the need to reduce taxes. Sechin pointed out that the state doubled the amount of deductions for the oil and gas sector, but prices for raw materials decreased significantly.

However, today there is no one to replace enterprises in the oil and gas sector: the “fashion for entrepreneurship” has long passed, the number of medium and small businesses is steadily decreasing, and the tax base is not increasing. At the same time, it is impossible to reduce social spending today. So the tax burden is placed on the largest payers, primarily on companies in the oil and gas sector.

Meanwhile, according to a number of experts, this consumer attitude of the state towards the largest economic entities brings exclusively short-term benefits. Experts note that the authorities always have the opportunity to receive more tax amounts. Whether the consequences will be negative or positive depends on the level of economic development of the country as a whole and the financial condition of a particular enterprise.

Counterparty audit - 2021: what is important for tax authorities today

For the first time, an attempt to describe the rules and desired behavior of the taxpayer when choosing counterparties was made in Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated October 12, 2006 No. 53.

More than 10 years have passed since then, but many companies still believe that collecting basic information from open sources is sufficient to verify a business partner today.

Of course, it is necessary to have such information, but judicial practice shows that this approach is already outdated.

A business wants to understand what measures and to what extent tax authorities expect from it, why it should be “responsible” for its counterparties, and what actions will be sufficient to prevent negative consequences in working with partners.

Olga Odintsova, EY Associate Partner, answered these questions at the conference “Reducing Tax Risks: Trends 2020”, organized by SKB Kontur.

How the counterparty verification system developed

Since 2010, a huge number of cases related to interaction with counterparties have gradually appeared in the courts. These cases addressed the issue of whether companies could deduct input VAT from a supplier and deduct expenses for income tax purposes.

VAT deductions and income tax deductions were two different topics. But from time to time they overlapped when the courts considered disputes about the legality of accepting expenses for income tax purposes.

During the same period, the topic of combating fly-by-night companies and illegal VAT deductions and VAT refunds gained momentum. Judicial practice accumulated. The problem was one thing: it was unclear to taxpayers what actions they could take to prove their good faith in choosing a business partner. The answer to this question first appeared in the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated October 12, 2006 No. 53.

This document has attempted to describe the rules and desired behavior of the taxpayer and the tax authorities. It was then that the concept of an unjustified tax benefit was formed and another terminology appeared, which courts use to this day when considering controversial situations with claimed deductions.

Even before 2010, the approach to selecting taxpayers for conducting on-site tax audits was changed. The Federal Tax Service and the Ministry of Finance issued the first letters in which they tried to answer the question of what measures a taxpayer needs to take in order to convince the tax authorities of exercising due diligence when choosing a counterparty.

After 2010, the situation became even clearer. In addition to letters and clarifications from departments, an automated system for monitoring VAT refunds has appeared - ASK VAT-2. By this point, it had already become clear that the tax authorities had decided to approach the issue quite systematically, which means that the business response should also be systematic.

In 2021, Art. 54.1 of the Tax Code of the Russian Federation, which requires the taxpayer not to abuse the right. That is, the transaction must be real, it must be carried out by the counterparty declared according to the documents, and the parties must not have the intention of not paying or underpaying taxes.

How the focus of tax audits has changed

Initially, the focus of inspections was aimed at combating fly-by-night companies. Tax officials tried to identify companies that were created for a short period of time and did not set a goal to carry out real economic activity. It was on them that the tax office developed its approach to checking the counterparty.

Development of tax service approaches to checking counterparties

In many ways, the tax authorities were helped by the launch of the ASK VAT-2 system. It made it possible to identify situations online when the budget did not create a source for reimbursement of funds claimed for deduction.

Letters from the department began to appear that revealed the internal approaches of the tax service to checking counterparties. In particular, a so-called risk-based approach was developed, according to which all taxpayers are distributed into a number of groups and a risk factor is assigned to each of them. Depending on this factor, the degree of tax control is determined.

Requirements for choosing a supplier not only of the first level

From a certain point to this day, tax authorities have raised questions about due diligence in choosing a supplier not only of the first, but also of previous levels.

As judicial practice has shown, it is no longer enough to simply demonstrate to the tax authorities formal compliance with the due diligence criteria, for example, by collecting a set of basic documents indicating that the counterparty exists.

Tax authorities began to understand the details. They were interested in how much you, when choosing this or that counterparty, this or that business model or supply chain, understand that you are dealing with a conscientious partner who meets not only your commercial interests, but also the interests of the state.

Tax authorities want business representatives to know their counterparty in some detail. It is important for them that taxpayers themselves make some effort and understand:

• does the counterparty have enough expertise;
• whether he has the funds or resources to implement the business project;
• how long the company has existed and whether it is able to fulfill the order in principle.

Essentially, the tax authorities want to share the burden of conducting control procedures with the taxpayers themselves.

What changes should we expect in the future?

Olga Odintsova, an associate partner at EY, believes that we need to build on the results of litigation over the past year. And they indicate that tax authorities are ready to move to a functional analysis of business chains. This is necessary in order to understand the roles of each link in this chain.

Moreover, tax authorities expect that each participant in the chain should be ready to answer the question of what exactly is his role and the role of each partner in this chain.

The tax authorities encourage businesses to keep their supply chain shorter. And if this is not possible, then it should be as transparent as possible.

What should be the business response to the demands of the tax authorities?

Today, many taxpayers still limit their counterparty due diligence procedures to the collection of basic information that is available in open sources.

For example, there is a whole set of free resources of the Federal Tax Service for searching for a counterparty by TIN, checking tax arrears, identifying mass registration addresses, searching for people in the register of disqualified persons, etc.

Also, the “Transparent Business” service has been operating for several years now, with the help of which you can obtain comprehensive information about the taxpayer.

As part of this resource, the Federal Tax Service is opening more and more useful data that can be used to minimize risks.

But, unfortunately, using only open sources to verify a counterparty is not enough today.

All data about the counterparty in one click: search for related organizations, participation in government contracts, financial condition and much more

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It is important that companies' approach to vetting their business partners is based on:

• on legal requirements;
• in judicial practice;
• on the regulator's explanations.

Today, a reasonable approach is to build a certain system of measures, which should include not only the collection and analysis of publicly available information, but also evidence that the business partner has sufficient resources, has qualified employees, etc.

As part of the analysis, a number of questions need to be answered. Does your counterparty involve other counterparties to perform its task? Are you aware of the entire supply chain? Does the counterparty pay taxes and what documents can you confirm this without violating trade secrets?

Stages of verification of a counterparty in 2021

At the conference “Reducing Tax Risks: Trends 2020,” EY Associate Partner Olga Odintsova described 4 stages that need to be followed.

Stage 1. Collect information about your counterparty

This block is the simplest. It includes an analysis of data from open sources, as well as a request for the necessary documents: copies of the organization’s charter, a certificate of state registration, a certificate of registration with the tax authority, identification documents of the manager, etc.

It is also useful to collect additional information based on existing experience of interaction with the counterparty. Remember that the mere presence of information “not passed through” analytics does not provide a complete picture of risks. First of all, it is important to collect documents that confirm the reality of business transactions.

Stage 2. Analyze the collected information based on the criteria

It is necessary to remember the criteria of good faith, which are indicated in their letters by the Ministry of Finance, the Federal Tax Service, as well as judicial practice.

It is necessary to check whether the counterparty has the necessary resources, how good its business reputation is, and whether its employees have the necessary skills and competencies.

Step 3: Document the process

Collect documents that can be used to confirm the choice of counterparty and the criteria on the basis of which it was made. Business correspondence will also be useful.

You must have a document regulating the procedure for selecting a counterparty, as well as documents reflecting the process of making a decision on cooperation.

Step 4: Watch for Changes

Monitor changes in the status of the counterparty you have chosen for cooperation. Do not forget to monitor the execution of transactions, operations and record those facts of economic activity that took place. It is important that there are no factors that could negatively affect the reputation of the counterparty.

Choosing a business partner is not just a task for accountants and financial specialists. A wrong choice can lead to tax risks, which means additional charges. And this, in addition to accountants, is important for the head of the company, lawyers, logistics department specialists and other key employees of the company to understand.