Optimization of taxation
Each legal entity has its tax obligations. Optimization of taxation is aimed at reducing the level of such costs. It results in the improvement of the financial and economic performance. We are glad to offer our services in this area.
This process is based on a reasonable and proper application of the existing provisions and regulations in tax legislation. It applies not only to the payment of custom duties, but also to some business operations.
What is included in optimization service?
With years of professional experience, our company has developed many strategies enabling you to effectively minimize tax risks in the shortest possible time and undertake optimization of such costs. Services include:
- verification of existing workflow philosophy in the company;
- detection and elimination of errors, quality improvement of primary documentation;
- cost planning for deduction of income tax;
- development of tax cost optimization plan;
- development of more efficient workflow philosophy for the company;
- advising on tax optimization in Kiev and throughout Ukraine;
- expert evaluation of controversial issues;
- avoidance of double taxation and optimization of taxation procedure;
- comprehensive assessment of possible risks related to the implementation of tax optimization plan.
After contacting our company, you can be sure in the quality of services provided. Our staff consists of experienced and qualified experts. This, combined with an individual approach to each client, allows us developing the most efficient optimization ways.
Tax optimization methods
There are several ways to reduce costs related to the payment of fees and charges. They all are based on application of existing legislation in the right way and optimization of the company’s work.
Among the most popular methods are the following:
- Optimization of income and expenses. This method relies on the fact that level of paid income tax can be modified by skillful planning of commodity flows, dates of sale and delivery, and transfer of ownership of the goods.
- Improvement of the workflow philosophy. Most businesses acting as intermediary in provision of works and services operate on the basis of direct contracts. However, implementation of activities on the basis of mediation agreements may have a positive impact in terms of reducing the amount of required deductions.
- Optimization of wages and social security contributions. This method is based on development of a custom scheme for payment of special bonuses and allowances included in the social package.
- Operational adjustment of companies which are part of a holding. This method involves proper allocation of income and expenses between elements of the business structure.
If you contact our company, you can be sure that we choose the most suitable and efficient method of reducing tax costs that will take into account your company needs and specific aspects of its activity. Years of experience and extensive knowledge base guarantee high quality services.
Responsibility for tax evasion
Effective law of Ukraine provides for certain sanctions for tax refusal or evasion.
The extent of liability depends on the existence of circumstances which are considered as aggravation. Thus, in the case of willful evasion committed by a civil officer or entrepreneur, which resulted in a substantial underpayment to the budget (from 800 thousand UAH to 2.4 million UAH), he/she is subject to the fine or deprivation of right to hold certain positions for up to 3 years (part 1, Article 212 of the Criminal Code of Ukraine).
If such evasion is committed by a group of persons and in collusion, the punishment provides the same degree of responsibility, but the fine doubles in size (part 2, Article 212 of the Criminal Code of Ukraine). When those offense was committed by an ex-convict, and budget is underpaid in the amount exceeding 4 million UAH, it foresees a combined sentence. It includes a fine of up to 425 thousand UAH, deprivation of right to hold certain positions for up to 3 years and confiscation of property (part 3, Article 212 of the Criminal Code of Ukraine).
A criminal liability is also foreseen for tax evasion. It can be avoided if the offender is not an ex-convict and, on a voluntary basis, pays taxes and reimburses losses caused by his actions to the state budget.
Statute of limitations for prosecution
As provided for by the effective legislation, encumbrance may be imposed within a certain period of time. It is equal to 3 years from the last date of statements submission or tax payment.
If within this period tax authorities fail to determine the amount of financial encumbrance and provide appropriate notification or decision, the taxpayer is exempt from liability, including the payment of the tax amount in question.
We cooperate with both small and medium-sized businesses. Our company deals with provision of professional services to businesses since 2002. Our core business is provision of accounting and legal services.
Our benefits include the following:
- Long-term experience. This is the ground allowing us to organize the most favorable and safe conditions for the development of your company.
- Reliability. Our objective is to build a long and fruitful cooperation. And therefore, we take special responsibility for each of our clients and provide the most efficient work with them.
- Accessibility. If a need arises, you can get not only services, but also the necessary consultations. Qualified lawyers of our company will answer all your questions.
- Comprehensiveness. We provide both individual and complex services.
- Flexibility. FChain is pleased to offer cooperation on a long-term and short-term basis.
- Highly-skilled experts. Our employees possess sufficient experience and knowledge in the area of accounting and tax records, human resource and legal issues, and modern financial management requirements.
If you want to reduce amount of taxes without violating the effective law, our service is for you. We can help optimize your accounting or legal department, introduce advanced software to fix existing bugs and defects. By contacting us, you get a reliable partner and a qualified expert at outsourcing terms.