SPECIFICITY OF ACCOUNTING AND FORMATION OF THE REPORTING IN THE RUSSIAN FEDERATION. THE LEGISLATION AND PRACTICE
OVERVIEW
According to the existing legislation, the companies, irrespective of a sort of activity, the organizational-legal form (type of ownership), what system of the taxation is used, and also irrespective of volumes of realization of the goods (or services) -- is obliged to be registered at tax authorities, off-budget funds (medical, pension, social security), statistical authorities, to carry out accounting and tax accountabilities and to provide timely reporting to the specified bodies in full – from the moment of establisgment of the local firm and irrespective of whether it carries out activity or not, or volumes of such activity.
Also it is necessary to note, that, unfortunately, bodies of the tax account, off-budget funds, other state bodies - not always provide uniformity of functioning of branches and requirements to the companies, and sometimes even an opportunity of submission of the reporting, because of congestion of this or that branch.
The situation is aggravated by variable federal and local (in particular, in Moscow) legislation in the field of accounting, and also in adjacent areas – the legislation on work, on regulation of migration and a legal status of foreign citizens, about licensing (when applicable) of various kinds of activity, etc.
Such requirements of the legislation and law-enforcement practice impose on the corporations of the obligation on correct conducting and duly providing of the reporting to numerous supervising authorities, and also determine the significant and time-consuming basic amount of work connected to it, at the same time keeping faultless quality.
