Proposals for the Development of Certain Areas in Tax Administration of Controlled Foreign Companies
Additional information resources and tools are required for the success development of tax administration of controlled foreign companies (CFC). Through these tools revenue officers will receive authorities for the improving of individual approach to administration of taxpayers. The research objective is to find solutions, which will be aimed at the development of new proposals for the goals of tax information volume extension. Achieving the goal requires solving the following problems: analyzing the possibility of tightening the rules of administrative responsibility for tax violations; formulating a proposal for an additional list of information that should be presented in the form of explanations to the financial statements of the CFC; developing a mathematical model aimed at assessing the tax potential of income tax from CFCs. In carrying out this study, the research methods such as analysis, concretization, analogy, and comparison were used. The study resulted in a number of proposals have been formulated aimed at creating the conditions for the development of individual work with taxpayers and encouraging taxpayers themselves to fulfill their obligations in the most conscientious manner regarding disclosure of information about CFCs.