Recently, the Federal Tax Service published a new general explanation regarding the corporate income tax. This explanation is aimed at clarifying the procedures and rules related to tax obligations of companies in the country.
According to this new document, the procedure for completing the tax year for corporations will include a number of clarifications and additions in comparison to previous years. Special attention will be paid to tax payment issues, income and expenditure declarations, as well as compliance with reporting deadlines.
One of the key aspects covered in the new explanation is the necessity for strict adherence to tax legislation and prescriptions. Accurate and timely presentation of financial reporting and tax payments is considered an obligation of every company operating in the country.
Furthermore, the explanation also notes that violations of tax legislation may lead to serious consequences, including fines or administrative liability. The Federal Tax Service recommends that all corporations thoroughly study the new explanation and, if necessary, restructure their tax processes and procedures.
