Supervision includes the following:
- Monitoring, collection and verification of accounting documents, business records, annual financial reports and annual reports on operations, as well as other fiscal and statistical reports,
- Checking operation system applied by taxpayer for the processing of data related to the performance of accounting operations,
- The inspection of business entities.
Tax Administration in the inspection may take the following measures:
- Adopt a resolution on the elimination of irregularities
- To bring the proceedings for violation or to apply for an commercial offense.
In essence, these powers and measures Tax Administration has already had within its jurisdiction prescribed by Law of tax administration and procedures.
From other changes, we highlight the following:
- Changed the criteria for the classification of legal persons (will significantly reduce the number of medium and large entities),
- For large entities obligation is prescribed to submit Annual report of operations
- Income Statement is now called the Statement of comprehensive income for the period,
- Possibility to apply IFRS for small and medium entities.