SPECIFICITY IN APPLYING THE TAX REGULATION FOR EXPENDITURE WHICH REPRESENT HIDDEN PROFIT DISTRIBUTION
Keywords:
specific decisions, tax regulation, hidden profit distribution, financial result, financial discipline, tax controlAbstract
The present study examines a specific problem in the taxation of the financial result of enterprises, related
to the hidden distribution of profit. Achieving a positive financial result and the way to reflect it in the financial
statement is a function of the management of every enterprise. The specificity of management decisions is
determined by the application of various complex management approaches, taking into account the requirements of
both accounting and tax legislation. The specifics arise in the cases that differ from the usual tax regulation, and
their research aims to highlight and improve the information awareness of the interested parties.
The topic of hidden profit distribution is debatable and relevant to current economic conditions as it relates to
building accounting understanding and experience to assist enterprise management in making management
decisions. There are different points of view, depending on the divergent interests of owners, shareholders and
partners who wish to use the realized profit from the activity in advance before the annual accounting period has
ended. There are frequent cases of using the profit for personal needs, which is contrary to the rules for observing
financial discipline in the enterprise. Usually these are enterprises that develop their activities in the gray economy.
There are not a few cases when labor remuneration in the amount of minimum wage is received according to
documents, and the rest of the actual remuneration is not reflected in the accounting registers.
The authorities of the revenue administration classify such behavior of the audited entities as hidden distribution of
profit, which leads to certain sanctions for these diverted amounts.
The purpose of the present study is to clarify the specifics, nature, accounting and tax interpretation of expenses that
represent hidden profit distribution, as well as the consequences that may arise. The focus is on specific examples
from practice, in which a combination of accounting and legal knowledge is imperative for their practical solution
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