Tax Services without Queues: Tax Monitoring for Businesses

Tax monitoring is a relatively new voluntary tax control method, under which the Federal Tax Service (FTS) receives online access to companies' information systems. It replaces traditional desk audits that have accompanied businesses for many years. In 2021, the Federal Tax Service relaxed the mandatory criteria for switcihng to this form of tax surveillance, allowing even more companies to switch to the new reporting format and streamline tax audits.

‘With automated tax monitoring, companies don’t have to think about tax risks and fines, desk and field audits, or how to support their reputation of a bona fide taxpayer. They can focus more on business than on monitoring,’ says Liliya Sakhipova, Head of Corporate Applications and Software Development at ICL Soft (part of ICL Group). ‘Yes, introducing organizational changes and new information technologies takes money, but the resulting internal monitoring system will make the company more efficient and help it to reduce costs. We have already helped several Russian oil and gas companies to make the transition.’