Organization of tax accounting and reporting in financial institutions

Abstract

The stuttering and tasks of tax accounting and reporting in financial and credit institutions were carried out. Based on the study, we will formulate our own vision of the concept “tax reporting of financial and credit institutions - this is reporting on the results of the activities of financial and credit institutions, which is formed in accordance with the requirements of tax legislation according to tax accounting data. An analysis of the work of foreign and domestic experts in the field of tax accounting showed that today there is no single approach to determining the basic concepts, composition and content of tax accounting, as well as its functions and implementation principles in financial and credit institutions. Therefore, the features of using a rational system of organizing tax accounting and reporting at a financial institution were discovered. The rational organization of tax accounting can reduce the costs of tax-related businesses in several ways, including by: reduction of the amount of tax payments of the enterprise; avoiding the cost of financial penalties associated with improper tax accounting at the enterprise; obtaining additional profit by increasing capital turnover by preventing tax overpayments; cost savings on organization and tax accounting.