Reconstruction of Accounting
The Russian Tax Authorities are notorious for assessing fines and penalties for what would in other countries be considered a simple clerical error. These mistakes can remain undiscovered in your accounting database for up to three years where they may be brought to light during a tax audit.
Additionally, when a company applies for a VAT refund, it triggers a review by the authorities. Although refunds are usually granted, it is well known that before returning any funds from the budget, an audit is conducted where any errors in the accounting or support documentation may reduce the amount of the refund.
Our Accounting Reconstruction Service is often used when a company wants an independent third party to review and / or correct their accounting database for a variety of reasons including:
A good Chief Accountant cannot guarantee the success of your Russian business. Without one, however, you don’t have a chance.