Whatever a company does, even a small firm needs to keep financial and accounting records. Usually an in-house accountant is hired for this, but IT companies commonly bring in an outsourced accountant. Read on to find out why you need a specialist and how this can work in your favour.
Why you need a specialist
IT is developing fast and has its own specifics and nuances. Organising the accounts means taking many details into account, including the nature and scale of the business. That makes it hard to find an in-house employee who is at home in information technology, and then…
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Tax officials in an individual tax consultation explained: since a resident pays tax at his own expense at a rate of 20% of the amount of payments to non-residents for the production and / or distribution of advertising, regardless of where the non-resident provided such services, the rules of international treaties in terms of reducing (exempting) the amount of tax do not apply to payments to non-residents.Fiscal authorities reminded that the application of the rules of international treaties of Ukraine is carried out by the exemption from taxation of income…
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Published 27 June 2023. Some rules have changed since; ask us for the current position.
Looking into how VAT works and want compensation from the state? Then you will need to understand every detail of the process. Read on for answers to your questions.
How the process works
A VAT refund (бюджетне відшкодування ПДВ) is compensation from the state: the taxpayer gets back the VAT paid when buying products, work, goods or services. However, not every business can claim it or choose how the money comes back. Today a refund can take one of these forms:
a…
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Every business deals with money. That is why any company that wants a positive image and a spotless reputation with investors and lenders should have its financial statements audited. Read our guide to learn more about the process and how to prepare for it.
Why you need an audit
A financial statements audit is a review of the company by an independent auditor, followed by a report based on the findings. The audit is mandatory only for certain companies, such as:
public interest entities;
public joint-stock companies;
companies in the extractive…
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Tax consulting is a service that helps you track tax payments, gives the client a reputation as a conscientious taxpayer and keeps taxation reasonable in line with current law. It matters especially for owners of small and medium-sized businesses, and this article explains why.
Why you need this service
Tax consulting services are extremely valuable in situations such as:
choosing the right form of taxation and optimising it in line with current law and your company's specifics to make the business more profitable;
obtaining tax benefits or lawful concessions…
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