deduct taxes
Tax-free transfer of property in business: which instrument to choose?
Why might a tax-free transfer of property be required? The change of ownership of property by concluding a sale and purchase agreement is recognized as a sale and entails the need to pay VAT and income tax (when applying the general taxation system). In the event that the property is transferred in a single group of companies, the occurrence of tax liabilities is highly undesirable: in fact, the property remains in the ownership of the same beneficiary, and taxes must be paid. In addition, a tax-free transfer (change of ownership) of property in a group may be required:
To increase the level of property security. Obviously, “vital” property for the business should not be in the operating sector. Continue reading
Important changes for cardholders
Increased control over card transactions
Even in that year, it became known about the amendments to the 115th law. Now banks are required to report to Rosfinmonitoring on the following transactions of their clients:
opening a deposit and a deposit linked to a bank card for another person in the amount of 600 thousand rubles or more;
withdrawing a similar amount or crediting it to your own bank card; Continue reading
Profit and loss statement: how much your business earns
Every businessman wants to know his profit and manage it. A tool called the income statement (OPI) helps to calculate it correctly. We tell you what it is, why it is needed, how it is arranged, how to conduct it and how to use it.
What is OPiU
The Profit and Loss Statement (OPI) is a table that reflects the revenue of a business and the expenses it incurred to earn it. The difference between them is profit or, if it has a negative value, loss. Continue reading
