Abstract
Research background: Our research demonstrates that corporate accounting as a rule contains no frames connected with the disclosure of information about operations on digital platforms and indirect taxes on В2В operations, including tax risks. Purpose of the article: Our research revealed that corporate accounting as a rule contains no frames connected with disclosure of information about operations on digital platforms and indirect taxes on В2В operations, including tax risks. This information can be hidden in some reports, which are usually compiled on the initiative of the company. Methods: We can select information needs of the users as a starting point of raising sustainability of corporate governance. This is why companies compile different forms of reports containing both financial and non-financial information. Country reports reflect different financial, tax, and other indicators of international groups of companies in the countries, where participants of such groups operate (and, if necessary, explanations). At the same time, methodologically country reports are a chance to establish disproportion between the scope of company operations and the amount of taxes paid in different jurisdictions. Findings & Value added: Information about indirect taxes and B2B operations is of inconsistent, unstructured character, making its retrospective assessment both for an individual company and as comparative analysis for a group of companies impossible. We see further development of this issue in research of corporate websites and information disclosure centers for structuring and detailing the information of many companies participating in the B2B sector and developing common approaches to information disclosure.
Highlights
Information about the companies’ operations on В2В platforms reveals their financial indicators and indirect taxation of such operations and their tax risks
Despite many financial and organizational hurdles to its use, introduction of XBRL is methodologically proven in practice in the most current jurisdictions during collection of tax, statistic, financial, supervision information. This is why XBRL for country reports is good by the following functional parameters: - the XBRL reporting format is based on tags, which fully synchronize the names of phenomena and events ensuring uniform wordings between the countries
Our research shows that corporate reporting contains no frames linked directly to information disclosure about operations on digital platforms and information disclosure about indirect taxes, including the tax risks on such operations
Summary
Information about the companies’ operations on В2В platforms reveals their financial indicators and indirect taxation of such operations and their tax risks. We should note that budget replenishment with the help of tax receipts is important for all jurisdictions. This methodological aspect is implemented through changes in tax legislation (levying new taxes, raising the tax rates and other actions). The tax organs check transnational companies, including those selling their products through digital platforms, with most attention. This is why the key international principle is double taxation avoidance and boosting transparency of tax data, which requires new international tax legislation initiatives [2]
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