Present development practices for tax, financial and statistical reporting in the Russian Federation

Abstract

Financial, statistical and tax reporting is of prime importance in today’s world. All the economic entities are obliged to disclose their operating performance and pay taxes established by the law. Currently financial and statistical reporting serves to address these objectives, as it pertains to disclosure of the financial performance of an economic entity while tax reporting is intended to control the tax base calculation and, respectively, the tax subject to transfer to the budget [4, 7, 10, 14]. Regulatory authorities use tax reporting to determine if the tax calculation is correct. Reporting purposes used to change over time, thus their current intended purpose is not consistent with the initial ones. The article analyzes the development evolution of the tax, financial and statistical reporting and its regulatory control in these days.