On Administration of Corporate Income Tax
The objective of the audit is to gain assurance that institution subordinated to the Minister for Finance – the State Revenue Service provides administration of Enterprise Income Tax relief in accordance with the regulatory enactments in force: a) to verify if control over justified application of Enterprise Income Tax relief is provided and organized; b) to verify if tax amounts forgone the State budget as a result of application of tax relief specified by legal enactments, are accounted and reported. Also to verify if the Ministry of Finance provides development and implementation of tax policy regarding Enterprise Income Tax relief and if tax relief efficiency and benefit to the public is assessed.
A number of discrepancies were disclosed in the activity of the Ministry of Finance, providing development and implementation of tax policy, and in the activity of the State Revenue Service, providing administration of Enterprise Income Tax relief.