The present norms establish the general principles applicable to the certification activity of the annual income tax statements of the corporate taxpayers, except those for whom the audit is compulsory.
Company prepares the annual income tax statement and is responsible for drawing up the accounting documents, for the accuracy of the accounting records, as well as for the preparation and accuracy of tax records. The company, through its representatives, will have to make a statement on its own responsibility regarding the records and accounting policies with the applicable accounting regulations whose model is annexed to the present norms.
At the same time, it will place all the documents and information at the tax consultant’s disposal to verify the elements submitted in the annual declaration of income tax that is subject to certification. All the necessary information for the certification should be required in writing by the tax consultant.
Tax treatment of the economic operations reflected in the financial-accounting documents and which are submitted in the annual declaration of income tax that are to be subject to certification shall be verified by survey, according to a significance threshold set by the tax consultant.
The statement verification will have to have in view at least the elements specifically mentioned in Title II “Income tax” from the Fiscal code, such as : taxable income, non taxable income, elements similar to revenue and expenses, reevaluations, nondeductible expenses and with limited deductibility ones , indebtedness, provisions, depreciation, incurred expenditure / income .
The certification of the annual profit tax statement does not involve checking the policy / documentation of the transfer prices, the trade policies and the accounting policies applied by the company. It also does not require the verification of carried forward tax loss and of other tax items resulting from the prior periods and which have effects in the period under certification.
The tax consultant will be required to document the statement certification work in a work file that will be archived at the tax consultant premises. The certification results will be recorded in a document called the certification report that will be submitted to the company. This report will have to contain at least the following elements:
• a brief overview of the company;
•the value of the significance threshold;
• mentions concerning the tax loss from the year / previous years carried forward in the year in which the annual profit tax statement is certified;
• elements that had been checked;
• eventual adjustments proposed in comparison with the statement initially subject to certification ;
• the tax consultant’s opinion on the annual statement of profit tax that was subject to verification.
The tax consultant will issue a certification note concerning the model in the annex to the present norms, which will accompany the annual profit tax statement. This note will mention if the certification will be made with or without reservations.
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