OREANDA-NEWS.  December 19, 2013. The specialists of FBK Legal and the experts of FBK department for accounting process development and standardization have finalized the development of a single accounting policy for the Russian Helicopters holding company for taxation purposes.

Within the framework of the project the analysis was carries out of the company sub-units’ normative-legal acts on taxation, a list was made of the situation with some alternatives or contradictions in the method of tax accounting. Corporate accounting principles were also developed on income tax and value added, the methods of organizing separate VAT accounting for taxable and non-taxable transactions, the classifier for direct and indirect expenses for calculating the profit tax, the classifier of charges and payments to the company’s employees.

According to Alexei Yakovlev, head of the FBK Legal tax litigation practice, practical application of the normative act designed by the FBK specialists will allow reducing the tax management costs, making tax accounting more transparent and improving the accuracy of planning for the tax charges.

And according to Elena Tyutyunnikova, head of the FBK department for accounting process development and standardization, the project was implemented with allowing for the specifics of showing Russian Helicopters production and project activities in the tax accounting, field examinations and face-to-face interviews with the heads and employees of the holding enterprises. “That allowed us to determine the key economic operations, to see how the accounting process is organized at the enterprises, to understand how it can be modified with the view to build a single accounting policy for taxation purposes”, explained Elena Tyutyunnikova.

Russian Helicopters is one of the world leaders in helicopter engineering, the only designer and producer of helicopters in Russia, one of the few companies in the world capable of designing, producing, testing and maintenance of modern civil and military helicopters.
The Russian Helicopters holding company includes design offices, helicopter works, and enterprises for the production, maintenance and repair of component parts, as well as the service company for after-sale services of the machines in Russia and abroad.