Far East Shipping Company optimized management of the controlled foreign companies with the help of 1C: Holding Management

On May 16, 2017 the Natsionalny telecom Ltd Integrator announced end of system implementation of preparation of tax statements on CFC (controlled foreign companies) based on 1C: Holding Management in PJSC DVMP - management company of the Transport FESCO group.

Cargo delivery, Far East Shipping Company (2017)

Project Tasks

Changes in the Russian legislation on the controlled foreign companies set for FESCO the task of complex information and analytical ensuring business processes of formation of tax statements in this area. According to the strategy of FESCO directed to increase in efficiency and automation of the servicing business processes the task to develop and implement completely automated business process from maintaining an organization structure before collecting and storage of supporting documents and formation of the tax declaration electronically was set.

For the solution of a task the decision on system implementation of 1C: Holding Management was made. The Natsionalny telecom Ltd company became the partner in project implementation.

Project Results

A system integrated and unified work on formation of tax statements on more than 90 foreign companies FESCO. As a result data acquisition for preparation of the reporting accelerated, tax risks and risks of receiving penalties for untimely delivery of reports decreased.

Operational reporting of the controlled foreign companies and notifications according to the current legislation of the Russian Federation is organized. Data transfer is executed of the current system in the solution based on 1C: Holding Management and data purification is provided.

According to requirements of the enterprise for a system the standard mechanism of formation of tax declarations on income tax of the organizations and for an income tax regarding revenues of the controlled foreign companies is finished.

The reporting under the controlled foreign companies for last year was created in the solution "1C: Holding Management". The system of submission of reports on the controlled foreign companies is transferred to commercial operation.