Taxes and assessment of tax risks, June 2017

28 June 2017

On 22-23 June 2017, the RSBF held a seminar devoted to “Taxes and assessment of tax risks”. This is a new seminar designed and implemented by RSBF consultants, taking into account the training needs and requirements of our partner institutions.

The purpose of the seminar is to expand the knowledge base of loan officers in the area of financial analysis of connected entities operating in the small business sector, i.e. to teach them to identify and assess tax risks in the process of lending to such groups.

Representatives of the following partner institutions took part in the seminar: NBD-Bank, Cent-invest Bank, Chelindbank, Vozrozhdenie Bank, Promsvyazbank, LOCKO-Bank, and Intesa Bank.

The RSBF trainers, Olga Tarasova, Oleg Ivanov, and Natalia Narysheva, told the participants about taxes paid by the MSE segment (including an in-depth discussion of the VAT), analysed standard group models of connected entities entailing high and low tax risks, examined the adverse effects of tax optimization and associated credit risks, taught the participants to identify signs of tax optimization in financial statements of companies, and studied the practical aspects of consolidation of connected entities.

All practical examples and case studies discussed at the seminar were prepared on the basis of real-life business models and credit resumés.

The basics of taxation are presented in the e-Textbook “Taxes in the Russian Federation” on our Knowledge Sharing Platform. This e-Textbook has been updated to include all regulatory changes that came into effect on 1 January 2017.

The RSBF team leader, Ms. Daniela Wendhaus, made a presentation on the RSBF Knowledge Sharing Platform. She spoke about the results of the Fund’s activities, the advantages and benefits of online learning on the KSP, and about opportunities of the EBRD-RSBF certification.

Here are some quotes from the participants’ feedback questionnaires:

  • The following topics were indicated by the participants as the most useful and interesting:
“Typical models of groups of connected entities entailing different levels of tax risk; analysing accounting statements for evidence of tax optimization”.
“Assessment of financial risks in case of existing tax risks”.
“Identifying tax optimization schemes”.
  • General feedback on the seminar:
“Knowledge gained in the course of problem solving and real case studies, is well organized and stays with you for long”.
“A very useful seminar. A lot of information about business entities consolidation, accounting transactions, and taxes”.
“The colleagues share their experience in a clear format, render assistance if anything is not clear. The trainers have in-depth knowledge of the material taught. Thanks a lot!”

The RSBF team of consultants is wishing success to all of you in using the new knowledge gained in your practical activities!