Tax Review

Schekin & Partners performs independent reviews of companies’ tax and financial accounting systems, primary accounting documents and tax calculation and payment. Tax reviews are used to ensure that all taxes are paid in full, develop measures to prevent tax claims and identify and utilize tax potential (overpaid taxes that can be offset or refunded through administrative procedure or litigation).

We conduct both comprehensive and focused tax reviews. In a focused review we identify and assess any transactions that are unusual or complex and/or for which no regulatory framework exists. 

Our tax review services help companies minimize the impacts of tax audits and better prepare to challenge tax authority claims, including by using identified tax potential.

Examples of our work:

  • We conducted a comprehensive tax review at an upstream oil company and identified tax risks and tax potential. Following our review, the company made corrections in its tax reporting that helped reduce the risk of tax claims.

  • We participated in a tax review at a group involved in complete cycle production and sale of finished products. As a result, the group’s companies reviewed and improved their approaches to tax accounting. Following the review, the tax accounting systems were harmonized across the group and internal controls were improved and streamlined, helping the managing company ensure correct calculation and payment of tax.

  • Following our tax review, a natural gas producer revised certain accounting policies to reflect new arbitration trends and corrected its tax reporting. Subsequent tax audit procedures proved that the company benefited from our services.

  • Our professionals participated in a number of tax reviews at foreign companies operating in Russia through representative offices. Analysis of the tax treatment applicable to the companies identified tax risks related to passing costs from the headquarters to the representative office. Recommendations were developed to document such costs, considerably reducing the risk of the tax authority challenging the costs as unjustified.