Accounting, analysis and audit of tax settlements of PE “Ukrinvestprylad”
Students Name: Oleksa Oksana Andriivna
Qualification Level: magister
Speciality: Accounting and Taxation
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2020-2021 н.р.
Language of Defence: ukrainian
Abstract: Oleksa O. A., Baranovska S.P. (supervisor). Accounting, analysis and audit of tax settlements at PE «Ukrinvestprilad». Master’s thesis. - Lviv Polytechnic National University, Lviv, 2020. Extended abstract. Tax payments are a special and important part of the economic relationship between the state and businesses. The complexity of establishing a tax system is due to the conflict of interests of the state and taxpayers. Businesses are trying to optimize their tax burden and when accounting for liabilities to the budget, they must adhere to all legal and methodological principles[1]. The object of research - the company’s operations for tax calculations. The subject of research - the reliability and correctness of the calculation and payment of tax payments. The purpose of the study: there is a generalization and improvement of knowledge and practical skills in accounting, analysis and audit of tax calculations of the enterprise on the basis of PE «Ukrinvestprilad». PE «Ukrinvestprilad» is a dealer of products of the Convert Factory "Kuvert-Ukraine" and offers envelopes and paper bags. The company operates on the general system of taxation and pays the following taxes, fees and contributions: company profit tax (18%); VAT (20%); personal income tax (18%); military tax (1.5%); single social contribution (22%)[2]. Peculiarities of accounting for tax calculations are due to the need to differentiate calculations for each tax in analytical accounting, as the mixing of accrued and paid amounts to the budget or social funds is not allowed. During 2018-2019, the total amount of tax payments of PE «Ukrinvestprilad». decreased by UAH 40.2 thousand or 31%. The share of VAT in the structure of tax payments increased by 1.1%, personal income tax - by 2.4%, SSC - by 1.8%, and the share of income tax decreased by 5.3%. During 2015-2017. arrears on settlements with the budget increased by UAH 25.4 thousand, and during 2018-2019 - decreased by UAH 11.4 thousand. In 2018 and 2019, there are no current accounts payable according to insurance calculations at the end of the year [4]. Analysis of tax calculations involves the use of certain indicators, including the total tax rate, the coefficient of tax capacity of products sold, tax burden on income, tax burden on expenses, tax burden on profits, the rate of use of tax benefits and tax rate [3]. At PE «Ukrinvestprilad». the internal audit of observance of a methodology of conducting calculations on taxes is carried out by the accountant. The purpose of the VAT audit is to determine the correctness of accrual and payment of value added tax and the accuracy of reporting, and the purpose of the audit of deductions and accruals of wages is to determine the accuracy, completeness of information on personal income tax, military duty and SSC in financial statements and accounting records. Internal audit is designed to identify errors in the accounting of tax calculations (SSC, PIT, military duty, VAT), verification of the correctness of PIT, military tax and SSC in accounting and financial and tax reporting, compliance with deadlines for submission and payment of taxes[5] . The main recommendation for improving the accounting of tax calculations for PE «Ukrinvestprilad». is the development and approval of the Order on the accounting policy of the enterprise, as for tax purposes the accounting policy is a document in which the taxpayer must prescribe all the rules and methods he intends to follow in the calculation and payment of taxes and fees, its approval is an important stage in the economic activity of the enterprise. Key words - tax, calculations with the budget, accounting policy, tax burden, benefit, profit. References. 1. Reforming the tax system of Ukraine - as a way to resolve tax conflicts [Online], available at: https://minjust.gov.ua/m/str_6905 2. Official site of PE «Ukrinvestprilad». [Online], available at: https://druktorba.business.site 3. Tax analysis as a component of optimization of enterprise tax policy [Online], available at: http://lib.kart.edu.ua/bitstream/123456789/761/1/VETP_2016_55_50_ 58.pdf. 4. Kindratska GI Analysis of economic activity: textbook. manual / GI Kindratska, AG Zagorodniy, Yu. I, Kulinyak.- Lviv: ZUKC, 2017.-310 p. 5. Internal control of cost accounting: methodological aspects [Online], available at: http://economyandsociety.in.ua/journal/16_ukr/139.pdf