Kucher S. Accounting for and internal control over the transactions with income tax charges and payment

The theoretical and methodical statements of accounting for and internal control over the transactions with income tax charges and payment have been grounded. The interpretation of the term "income tax" has been specified as well as the structural scheme of the national system of distribution of income to state in the form of income tax has been suggested. The economic profit as a criterion of comparing the efficiency of companies' performance has been determined. The integral informational accounting system has been grounded as well as the methodic support of accounting for transactions with income tax has been improved. The mechanism of using the accounting policy as a tool of tax planning on the basis of economic analysis indexes has been worked out. The procedure of identifying and assessing tax risks that companies run has been worked out. Organization and methodic approach towards carrying out internal control over the transactions with income tax charges and payment has been suggested, which is based on the combination of approaches towards identification, assessment and management of tax risks run buy the income tax payer.