Checking business partners is a mandatory part of activities of any company if it wants to successfully pass an audit by Tax Inspectorate.
Working with bad faith suppliers threatens businesses with problems such as refusal to refund VAT, denial of recognition of expenses for revenue tax purposes, or even accusation of obtaining an unjustified tax benefit.
Here’s a list of the main risks involved in working with business partners who were not properly checked:
Recognizing a contract invalid.
When working with a bad faith supplier, there’s risk of failure to have the work properly done or to meet the established deadlines, or refusal to return an advance payment.
When working with a bad faith buyer, there’s risk of failure to receive payment, or the risk to receive claims to return an advance payment.
Damage to reputation, accusations of being involved in corrupt schemes, or money laundering.
If a sham company is your supplier, it may refuse to reimburse VAT or to recognize expenses for revenue tax purposes.
- If a sham company is your buyer, you run the risk of having to pay revenue tax or VAT based on the settlement method, while tax authorities calculate your income in accordance with Para 2, Art. 31 of the Tax Code.
Experienced accountants and lawyers of Unicon Outsourcing will help you verify your business partners and mitigate risks for your company.
|Full background check on one business partner||4 000|
|Simplified background check on one business partner||2 200|
|Checking the changings in details||1 250|
Full background check includes 43 items and simplified background check includes 22 items on the checklist.
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Unicon Outsourcing provides the following services to perform a background check on your business partners:
We develop rules and regulations on checking business partners, which must become part of the corporate accounting policy.
We regularly run checks on existing suppliers, as even long-time and reliable suppliers may become unreliable over time.
For example, a company may have been sold, it may have changed owners, it may now have pledged property, or be under bankruptcy proceedings.
We run checks on your new business partners to keep you safe from signing a contract with a sham company.
We defend client's interestd in Tax Inspectorate in case any questions arise
We don't leave clients in a difficult situation and usually prove rightfulness of our decisions.
Small business partners
We check: actual existence of a company, the validity of TINs and certificates, the receipt of requested documents.
Average business partners
We check: actual existence of a company, the validity of TINs and certificates, the receipt of requested documents, statutory documents, absence of fake founders or executives.
Large business partners
We check: actual existence of a company, the validity of TINs and certificates, the receipt of requested documents, statutory documents, absence of fake founders or executives, data from open sources (court cases, bankruptcies, enforcement proceedings, etc.), Information from specialized paid databases (SPARK, etc.), we analyze collected information and reporting data.