New Counterparty Check Service

Currently, the Tax Inspectorate is checking all the transactions thoroughly to make sure that they are not fraudulent or bogus. If inspectors have doubts in the good faith of the partner that has entered into a contract with you, the Tax Inspectorate will challenge the transaction and will insist on raising the tax base, and your company will have to pay back taxes, as well as penalties and fines.

To protect our customers from such situations, BDO Unicon Outsourcing has developed a new counterparty check service.

What we do:

• Develop counterparty check rules for our clients
  

Help our customers develop the counterparty check regulations. It is designed to help the customer employees carry out a counterparty check independently and will serve as yet another proof of our client’s due diligence for the Tax Inspectorate.

• Check new counterparties
  

We check whether the company supposed to enter into a contract with our customer really exists, whether its taxpayer identification number (INN) and other certificates are valid and whether it has any bogus founding shareholders or managers. We obtain data from open sources (litigation, bankruptcy, enforcement proceedings, etc.) and dedicated fee-based databases (SPARK, etc.), analyse the collected information and develop recommendations on whether our client should cooperate with a certain company or not and how to hedge the risks when making a contract.

• Check old partners
  

We carry out recurring follow-up checks of existing counterparties. Oftentimes, a proven reliable supplier undergoes changes in the management, incurs significant debt that may result in bankruptcy and the company ends up in the “risk zone.” Our task is to identify such customers and suppliers promptly.

We defend the client’s interests in the Tax Inspectorate, should it have any claims. We never abandon our customers in difficult times and usually succeed in making our case. 

Why ordering a counterparty check? Can we check them through our own effort?

Absolutely. Any company can check counterparties independently. Here is a useful link describing the way to do it using data from open sources. But this will put additional load on your employees. If you have a lot of partners, the check will take time and effort.

Moreover, you will have to rely on the good faith of the employee performing the check. But what if your specialist fails to pay attention at any important documents under the pressure of time? The company will be unable to impose a fine on such employee. Meanwhile, an outsourcing company insures its civil liability and compensates the client for the costs incurred due to its fault.

BDO Unicon Outsourcing provides the counterparty check service on an ongoing basis in the form of the audit. You can get additional information by contacting us at +7 495 787 8552 or outsourcing@bdo.ru