Payment Terms Research Articles

Remuneration, Personnel Expenses and Third Party Expenses in Times of Covid-19 in the Financial Sector

The objective of this research was to determine the statistically significant differences between the semiannual percentages of salaries, personnel expenses and third party expenses of the Peruvian financial sector during the “COVID-19” pandemic. The percentage of administrative expenses of 46 financial entities in Peru was analyzed, and in what proportion they invested in favor of their collaborators; As a result, in terms of remuneration, the Municipal Savings Banks invested in a greater proportion (50.69%), regarding personnel expenses, the Municipal Savings Banks stand out with 16.8%, and in terms of third-party payments, the financial entity that invested the most was Edpymes with 42.30%. Likewise, through the Kruskal Wallis test it was obtained that there are no statistically significant differences in remuneration, payment of personnel and payment to third parties among financial entities in Peru (p value> 0.05). It is concluded that the semester percentage variation in time of COVID-19 with respect to the first semester 2019 has had a minimal change (+ 1.20%. In salaries, -1.6% in personnel payments and -0.05% in third party expenses).

Skill, power and marginal contribution in committees

Power is an important basic concept in Political Science and Economics. Applying an extended version of the uncertain dichotomous choice model proposed, the objective of this paper is to clarify the relationship between two different types of power a voter may have: skill-dependent (s-d) power and marginal contribution (mc). It is then shown that, under the optimal committee decision rule, inequality in skills may result in higher inequality of the two types of power and that the distribution of the second type of power (mc) can be even more unequal than the distribution of the first type of s-d power. Using simulations, and assuming evenly spread skills, this possibility is proved to be robust. The significance of the finding is due to the effect of power on reward, whether it is defined in terms of status or in terms of monetary payment.

ОРГАНІЗАЦІЯ ПОДАТКОВОГО ОБЛІКУ ТА ФОРМУВАННЯ ПОДАТКОВОЇ ПОЛІТИКИ НА ПІДПРИЄМСТВІ

The article considers the organization of tax accounting and the importance of forming optimal tax policy of any business entity. Optimal tax policy should significantly contribute to the improvement of management methods, increase the profitability of the enterprise, and strengthen the stable financial condition and stable operation of the enterprise and the fulfillment of obligations to the budget. In any business, when planning profits, the tax system is an integral part of this process, because the amount of taxes depends on the amount of net profit that the company will have. Therefore, an important step for the company to develop its own tax policy is to choose a tax system that will be most acceptable for its form of ownership, organizational form and which will best meet the financial objectives of the enterprise. Choosing a tax system is also a significant step. Not only it depends on what taxes and in what amounts the company will be paying, but also the procedure for determining the tax base, accounting and reporting. The main tool of the tax policy of the enterprise is tax accounting. The essence of tax accounting is the economic and financial relation between state tax authorities and legal entities and individuals, which arise in the calculation and payment of taxes and fees. It is conducted in order to form complete and accurate information about business transactions conducted by taxpayers during the reporting period for tax purposes, as well as providing information to internal and external users to control the accuracy of accrual, completeness and timeliness of tax payments. The organization of the process of tax accounting at enterprises provides for the determination on the basis of tax legislation of the range of basic taxes to be paid to the budgets of different levels and extrabudgetary funds; determination of sources of payment; accounting for the accrual and payment of taxes; determination of the tax base; tax rates; terms of payment; determination of requisites of the organizations to the address to which transfers are made; determination of benefits or special conditions for tax calculation.

Electronic payment system as an object of criminal encroachment

Introduction. In recent years, the number of payment transactions carried out using electronic payment systems has grown rapidly. Despite the steady growth of electronic payments among both individuals and legal entities, a number of problems remain unresolved, which primarily include ensuring the security of electronic payment transactions by the state at the legislative level and the development of effective means of combating and preventing crime. in the specified area. The current criminal legislation contains certain rules that can ensure the security of the electronic payment system. But insufficient research of some theoretical aspects of criminal liability for this type of criminal offenses significantly reduces the effectiveness of criminal law protection of this area of life. One such aspect is the theoretical uncertainty of the object that falls under the protection of criminal law. In particular, there is a lack of theoretical definition of the system of electronic payments in terms of the object, which is placed under the protection of criminal law. The aim of the article. The importance of the researched problems and the need to increase the efficiency of the current Criminal Code of Ukraine determine the purpose of this study, which is to define the concept of electronic payment system as an object of criminal protection. Results. Criminal offenses committed in the system of electronic payments belong to a qualitatively new type of mercenary crime in the banking sector, which is directly related to the modernization of economic relations in society. They cover the sphere of economic interests of the state as a whole, individual legal entities, as well as individuals who use the electronic payment system in their own interests. There is a need to develop a universal criminal law terminology in order to improve the regulatory framework governing relations in the field of electronic payments. Unfortunately, the definition of electronic payment system (electronic payment system) has not been properly developed either in the financial and economic sphere or in jurisprudence, and the existing definitions are not clear and contain a list of essential features of such systems. Conclusions. The system of electronic payments as an object of criminal encroachment - is regulated by law the order of public relations for the transfer of funds between participants in the payment system through a special payment mechanism, which is a set of methods, tools, methods to make calculations for effective and safe transfer of funds from the payer to the recipient in time and space and regulated by a special law and payment rules, are implemented on the basis of the contract against which the criminal encroachment is directed. This definition indicates the specifics of the electronic payment system as an object of crime, and also contains a list of all the most important features of this system, which will further contribute to the correct classification of crimes committed in this area.

Эмпирические пенсионные индикаторы: межстрановые сравнения и методология для России

The article proposes a system of empirical indicators for Russia, taking into account the analysis of foreign and Russian approaches to assessing the adequacy of the level of pension provision. One group of the indicators, designed for crosscountry comparisons, is based on the methodology of the European Commission. The results of calculations of the proposed indicators on Russian data are presented, which made it possible to compare the level of pensions in Russia and European Union countries. The article defines the limitations of indicators for cross-country comparisons in terms of assessing the level of pension payments within the Russian system of compulsory pension insurance. For more adequate assessment of the adequacy of payments, the second group of indicators was developed that take into account the particularities of the Russian pension system. A distinctive feature of the proposed approach to the assessment of empirical indicators is that they are focused primarily on assessing the adequacy of the actual pension payments in terms of fulfilling the functions assigned to them - protection from poverty, compensation (replacement) of wages and ensuring the balance of income. The authors propose to evaluate these indicators not only on the data of population surveys, as is most common in foreign practice, but also on the administrative data of the Pension Fund of the Russian Federation.

Przegląd orzecznictwa Sądu Najwyższego (za okres czerwiec– wrzesień 2021)

Overview of the decisions of the Polish Supreme Court The resolution of the panel of seven judges of the Polish Supreme Court of July 2, 2021 (case file no. III CZP 38/20) is of utmost importance for legal practice. In it, the Court assumed that the landowner’s claim, under Article 231 § 2 of the Polish Civil Code, does not expire. The resolution of the Polish Supreme Court of September 30, 2021, case file no. III CZP 37/20, is of particular importance for legal practice. As indicated by the Supreme Court, the limitation period for a claim for compensation for recovery costs, based on Article 10(1) of the Act of March 8, 2013 on Counteracting Excessive Delays in Commercial Transactions (formerly known as the Act on Payment Terms in Commercial Transactions), is set out in Article 118 of the Polish Civil Code. However, according to the resolution of the Polish Supreme Court of July 6, 2021, case file no. III CZP 34/20 – in the event of bodily injury or health disorder, the court may award the aggrieved party with an appropriate sum as a pecuniary compensation for the harm suffered (Article 445 § 1 in conjunction with Article 4491 § 1 of the Polish Civil Code). Moreover, the Polish Supreme Court stated that the aggrieved party does not bear the burden of proving what caused the dangerous nature of the product.

The role of relationship quality and loyalty between rice farmers and food companies in supply chain

Relationship quality plays a key role in maintaining the connection among parties in a supply chain. Relationship quality promotes loyalty of the supply chain’s factors. This study applies structural equation modeling (SEM) to point out factors affecting the relationship quality and loyalty between farmers and food companies in the rice supply chain. The research data were collected by stratified sampling with a sample size of 232 farmers associating with food companies in the rice supply chain in the Mekong Delta. The four impacting factors that the study has found out include trust, perceived benefit, support policy, and payment terms. Most importantly, the study has demonstrated that relationship quality has a positive correlation with loyalty among parties in the regional rice supply chain.

Двухуровневая модель информационного взаимодействия участников транспортного рынка

Effective organization of intercity transportation largely depends on optimization of the operational search for cargo for the transit component of the route. Carriers have the opportunity to get additional income with minimal additional costs, and transport customers get the opportunity to transport at minimum tariffs. Information interaction systems of transport market participants are used for rapid search of goods and transport. Automation of the processes of information interaction of transport market participants will significantly increase the efficiency of such information systems [1, 2]. A two-level model of information interaction is proposed, which at the first level considers the interaction «carrier-customer», and at the second one operational interaction at the level «transport-cargo». This approach allows you to automate the formation of pairs not only taking into account the technological compatibility of the cargo (application for transportation) and the vehicle, but also taking into account such non-technological parameters as reliability, payment terms, the tax system used. Based on the proposed two-level model, a modified algorithm of the minimum concessions method is proposed. Preservation of stability of pairs when using this algorithm is justified. Based on formation of a data set of actions (decisions) of customer managers and carriers, it is possible to form neural networks that minimize routine actions in the interregional transportation market and increase efficiency of information interaction.

Method of Payment and Accessibility to Healthcare in Urban Areas: Case of the Health District of Kisanga in the Democratic Republic of Congo

Introduction: Improving health conditions in poor countries should be a priority in development policies, not only because health problems are an integral dimension of poverty, but also because there is no access to development without work and no longer to a work without health. Method: We carried out a cross-section on accessibility to care in the Kisanga health zone with the aim of improving access to health care. Our data was collected based on a questionnaire as well as an interview. We used the Epi Info software for analysis and data recording. Results: Regarding the gender of heads of household, we observed a predominance of women (52.7%); the Protestant religion was in the majority (29%); households spent an average of $170 for care; payment for care as well as discrimination were the determinants of access to care (P < 0.0001). Conclusion: It is imperative to organize the health service and institute risk sharing in terms of third-party payment to promote access to health care, which is a condition for the emergence of any nation.

Growth and development indices of Aberdeen-Angus bulls originating from sires of different body types

The purpose of this work was to establish the characteristics of growth, exterior, payment for feed by gain in live weight among young Aberdeen-Angus breed, originating from bulls of different body types. Hammer LLC of Karachay-Cherkessia conducted the experiment: from the offspring of 4 large bulls and 3 small bulls of the Aberdeen-Angus breed, 14 bulls were selected in each group. The investigation results on the intensive rearing of different young stock from weaning to 18 months of age showed that large-type bulls were superior to small-type bulls in terms of growth rate and better payment for feed by gain in live weight. At the age of 18 months, bulls from large-type parents reached a weight of 442 kg, and from small ones - 413 kg. These differences are statistically significant (P &gt; 0.99) for the period from weaning to one and a half years old bulls, originating from bulls of a large type spent 8.1 EFU per 1 kg of gain, and bulls originating from bulls of a small type – 8.4 EFU.

Transformation of Household Credit Behavior in the Conditions of Digitalization of the Financial Services Market

Within the article, the impact of modern digitalization processes on changing household credit behavior is considered. Much attention is paid to defining the essence of digitalization and exploring the features of its impact on the financial services market. Accordingly, the content of household credit behavior and its individual models are examined. This behavior is proposed to be considered as a process of interaction between entities engaged in joint business activities with financial institutions regarding the receipt of temporary financial resources from banking and non-banking institutions with subsequent use to meet their own needs on terms of return, payment, expediency and security. Within the article, basic features that are inherent in both the classic model of obtaining credit services by clients of financial institutions and the new model of lending, which is formed today as a result of the impact of digitalization processes, are defined and systematized. Study of the results of the analysis of current trends in the development of the financial services market made it possible to identify main perspective directions for further transformation of credit household behavior, the process of lending and changing the paradigm of lending to financial institutions.

Social approach in the system of remuneration and payment of management personnel in construction industry

In construction industry, as one of the most capital-intensive industries with a long production cycle, the problem of the system of remuneration and payment has always been a central link in the value chain of the final construction product. This study examines the issue of economic and social grounds for the formation of a system of remuneration of managerial personnel. In the study, the authors try to answer the question of whether the remuneration of managerial personnel should correspond to or be higher than the remuneration of the main workers. Is the remuneration of the labor of managerial personnel who do not directly participate in the creation of the value of the final construction product (buildings and constructions) commensurate with the wages of the main workers, workers - machine operators socially fair? Hence, the object of study is the system of remuneration in construction industry. The subject of the study is the system of remuneration in terms of incentive payments for management personnel in construction. The purpose of the study is a heuristic analysis of the system of remuneration of managerial personnel through the social paradigm of fairness of the present time. The research methodology consists in the use of heuristic methods for analyzing economic phenomena, the basis of which are generally recognized methods of scientific knowledge in the form of analogy, comparison, analysis, deduction, induction, etc. The result of the study is the proposed quantitative method for assessing the work of managerial personnel in construction and the formation of a remuneration system depending on quantitative indicators.

Determining business value according to FCFE

The large number of joint stock companies causes that investors strive for better awareness and information in the stock area. The objective of the contribution is to apply the method of discounted FCFE in the valuation of a specific company and to determine the parameters for the model application in practice. The data for the analysis are obtained from the database of Kofola ČeskoSlovensko a.s. The data are taken from the published annual reports for the years 2018 and 2019. First, a financial plan for a period of stability was created. Subsequently, the discount value of the company was calculated using the FCFE model. Finally, the calculation of the company value in the continuation phase was calculated. To achieve the research goal, the individual FCFE need to be discounted by the value of equity using the CAMP model. In conclusion, it can be assumed that the discount rate will remain stable and the prediction of the growth rate will not change. If there are no fundamental changes in the company e.g. in terms of dividend payment, investment activities, or changes in the working capital, it can be assumed that the value of the company should be stabilized until 2021.

Удосконалення фінансового планування на мікрорівні шляхом комплементарного таргетування

The article concretizes dominance of targeting as a phenomenon for keeping inflation at the macro-level, and to improve advertising activities at the micro level. The success of the relevant instrument in anti-inflation and advertising policies actualizes the possibility of targeting key financial indicators of the organization that are important for its owners and financial administration, but are often overlooked on the part of its managers. The article closer defines the theoretical provisions for improving financial planning at the micro level by introducing complimentary targeting in the activities of commercial organizations. An algorithm and a key indicator are proposed, which be the «target» of the corresponding targeting. As such an indicator, the profitability of assets is substantiated, the target value of which in quantitative parameters should exceed the price of using bank loans. It is determined that in modern conditions with regard to commercial organizations in Ukraine, the profitability of assets should be equal to or exceeding 30%. Appropriate targeting at the micro-level is substantiated as a tool for smoothing and harmonization of contradictions between owners of large-scale commercial organizations and their managers of both the medium and the senior level. Ignoring the rule of necessity of exceeding the profitability of assets over bank loan rates is identified in the activities of a number of public joint stock companies that are leaders in terms of tax payments in Ukraine. In addition, the prevalence of the practice of using bank loans by relevant public joint stock companies, even with a «strong» balance sheet and a high level of liquidity and solvency, is specified. The dominance of the use of bank loans in the activities of leading industrial enterprises in the country instead of issuing their own bonds in the absence of exceeding the profitability of the assets of these enterprises over the price of bank loans indicates the underdevelopment of the domestic stock market and further increases the level of relevance of the targeting of the asset profitability indicator.

РОЗВИТОК ІНТЕРНЕТ-БІЗНЕСУ ЯК ВАЖЛИВОГО ЕЛЕМЕНТУ КОМУНІКАЦІЇ В ЛОГІСТИЦІ

The article considers the prospects of Internet business development in Ukraine and abroad. The influence of digitalization of business processes on communication processes in logistics is analyzed. The variety of problems that are today the realization of the enormous potential of the World Wide Web and the variety of areas in which development and progress continue are considered. The focus was on various business models, including advertising, subscriptions, other means and their interaction with paradigms such as "software as a service", data ownership and many aspects of socialization. Total coverage of Ukrainian consumers with mobile Internet, along with increasing the importance of the possibility of implementing different phases of the purchase agreement at different, convenient times and in convenient circumstances, create grounds for total implementation of e-commerce in Ukraine communication strategy and its transformation into a stable market position. Only innovations, the study of promising options of which should be the subject of further research, will give domestic companies the opportunity in the future to compete successfully with foreign Internet giants. The authors investigated the positive and negative consequences of Internet commerce for the communication of logistics processes at the enterprise. In general, it should be noted that the digitalization of the implementation of any process in the enterprise, and logistics is no exception, has many more advantages, especially during a pandemic. The new generation lives in a new rhythm, and in the first place comes the convenience of service, the ability to quickly find the right product or service, the realization of the need at the time of occurrence. People want to receive a consolidated offer, personalized in relation to their preferences, and if these preferences have already been expressed – then on their basis. All this improves the position of foreign players, who now mainly offer more convenient for customers payment services, terms and delivery times. Accordingly, there is no denying the fact that the development of Internet business in logistics allows both manufacturers to make faster and more efficient decisions on providing production with the necessary raw materials, but also suppliers – to remind potential and regular customers of their existence, discount systems and promotions. This form of business introduction in logistics is quite optimal.

Oleksandr Lototsky and Borys Hrinchenko: concerning cooperation on the publication of Ukrainian-language books (1900–1908)

The relations and cooperation of the famous Ukrainian scientist, writer, publicist, publisher Oleksandr Lototskyi and the family of the Ukrainian writers — Borys and Maria Grinchenko are analyzed in the article. The publishing peculiarities of the Ukrainian-language books in the early twentieth century through the prism of the activity of Oleksandr Lototskyi — secretary of the “Charitable Society for Publication of Generally Useful and Cheap Books” (St. Petersburg) are highlighted in the article. The epistolary heritage of Oleksandr Lototskyi‘s located in the fund of the III Institute of Manuscripts of V.I. Vernadsky National Library of Ukraine was used by authors. The principles of historicism, scientific objectivity and systematics, as well as problem-chronological, comparative-historical and descriptive methods are used in writing the article. A study of Oleksandr Lototsky’s correspondence with Borys Grinchenko enables to find out that they had been actively cooperated even after 1900 when Oleksandr Lototskyi moved from Kyiv to St. Petersburg. Archival materials are published for the first time, revealing little-known details of Oleksandr Lototskyi’s persistent and painstaking work on the promotion of Borys Grinchenko’s Ukrainian-language manuscripts through censorship authorities. Such cooperation consisted of mutual discussion and editing of the manuscripts of Borys and Maria Grinchenko, which were to be published under such brands as “Vik” and “Charitable Society for Publication of Generally Useful and Cheap Books“. In particular, Oleksandr Lototskyi discussed with B. Grinchenko the issues of his Maria Grinchenko’s membership in the “Charitable Society for Publication of Generally Useful and Cheap Books“, cooperation with the “Ukrainian Vestnik“ magazine, as well as the terms of payment for their stories. Information about important historical events are involved in the scientific review, some facts from the history of book publishing development in Ukraine are specified, cultural and publishing networks of Ukrainian figures are defined. Important information has been found that opens up new perspectives for further in-depth study of their lives. It has been revealed that behind the cooperation in the field of literary and publishing during 1900–1908 the relations of both cultural leaders were creative, attentive, friendly and based on mutual assistance.

ФОРМУВАННЯ ОБЛІКОВОЇ ПОЛІТИКИ ЩОДО РОЗРАХУНКІВ ЗА ПОДАТКОВИМИ ПЛАТЕЖАМИ

The article investigated the issue of the formation of accounting policies in terms of payments for tax payments. The solution of the tasks set out in the article is carried out with the help of general scientific research methods, namely: analysis, systematization and generalization. The methodological and theoretical basis of the study served as the position of economic theory, theory of management, ideas and provisions set forth in the state regulatory documents of Ukraine on accounting of settlements with the budget for tax payments. Calculations for tax payments are always the focus of scientists and practitioners. This is due to the fact that in modern conditions there are permanent changes in tax legislation, there is a sufficiently high tax pressure, increases the number of violations in the field of payment of tax payments, etc. Calculations for tax payments are directly related to the formation of accounting policies. The development and approval of accounting policies is a responsible and essential element of the organization of accounting at the enterprise. However, the vast majority of business entities, regardless of ownership, do not pay the necessary attention to the issues of its formation. The effective and rational organization of accounting for calculations for tax payments provides for the choice of the optimal system of taxation, methodological methods, methods and procedures of organization and accounting for calculations for tax payments. Therefore, enterprises are expedient to form a separate section to the order of accounting policies “Organization of accounting of settlements with the budget for tax payments”. The article presents an indicative structure of this section. When forming an order on accounting policies within the section “Organization of accounting for calculations with the budget for tax payments” is expedient to apply organizational and methodological approaches in accordance with accounting and tax legislation. It is noted that the accounting policies of the enterprise in terms of calculations with the budget for tax payments is a prerequisite for improving the tax discipline of the enterprise, which in turn avoids fines and other types of financial sanctions.

Trade Finance, Gaps and the COVID-19 Pandemic: A Review of Events and Policy Responses to Date

Developments in trade finance in 2020 were largely driven by the impact of the COVID-19 pandemic. Twelve years after the great financial crisis of 2008-09, the issue of trade finance reemerged as a matter of urgency. While the current pandemic-related crisis did not have a financial cause, one of its results has been that many countries are experiencing difficulties in accessing trade credit. This is occurring notably in countries – particularly developing countries – in which structural trade finance gaps were high even before the pandemic. As the health crisis developed and persisted, banks experienced an increase in failures by traders to fulfil payments, including in industries and sectors beyond those initially impacted by lockdowns, such as airlines, aeronautics and tourism. It quickly became evident that one-off extensions of terms of payment by creditors would be insufficient to alleviate the trade finance crisis. Based on the experience of the 2008-09 crisis, governments, export credit agencies and international financial institutions, including multilateral development banks, rapidly intervened to support private markets. Multilateral development banks have provided record amounts of trade finance guarantees and liquidity in developing countries, while governments have implemented payment deferral schemes. Large central banks have supplied foreign exchange resources to other central banks through swap agreements. Efforts to date have been substantial, but challenges remain in 2021, connected first with how to support the importation and exportation of vaccines against COVID-19, and then with how to encourage the recovery of trade flows. Recent events, policy responses and upcoming challenges are discussed and analysed in this paper.

ЮРИДИЧНИЙ АСПЕКТ ВИПЛАТИ СЕРЕДНЬОГО РОЗМІРУ ГРОШОВОГО ЗАБЕЗПЕЧЕННЯ ВІЙСЬКОВОСЛУЖБОВЦЯМ НА ПІДСТАВІ РІШЕННЯ СУДУ

The article analyzes the problematic issues regarding the payment of cash benefits to servicemen in case of violation of the term of obligatory social benefits upon dismissal. It is determined that during 2018–2020 there is a practice of applying the norms of labor legislation of Ukraine to recover from the military units of the Armed Forces of Ukraine the average amount of cash during the delay of full payment of a serviceman upon discharge from military service. It is noted that this state of affairs puts excessive financial pressure on the state defense budget, and therefore it is necessary to clarify the legitimacy of the application of labor legislation to servicemen in terms of payment of the average amount of cash for the delay in discharge from military service. It is substantiated that the norms of special legislation have an exclusive advantage over the norms of labor legislation in resolving disputes concerning the full calculation of servicemen upon discharge from military service. Emphasis is placed on the fact that the practice of the European Court of Human Rights regarding the payment of average earnings to individual citizens of Ukraine during the delay in payment upon dismissal is ambiguous. It was found that at the regulatory level there is no procedure for calculating the average amount of cash collateral. It is noted that the application of the analogy of the procedure for calculating the average salary of employees is technically impossible given that the structure of monetary support of servicemen and its economic essence is different from the structure and nature of wages. It is proposed as a direction of further research to develop a compromise mechanism in the system of special legislation to strengthen the responsibility of officials of military units of the Armed Forces of Ukraine for late and incomplete payment of servicemen upon discharge from military service.

Податкове планування в системі управління фінансами суб’єктів господарювання

The article is aimed at highlighting the approaches to determining tax planning, as well as studying its role in the system of financial management of economic entities. The publication considers the major characteristics and principles of the implementation of tax planning, the observance of which creates the necessary basis for the effective work of an economic entity. The main stages of the process of implementation of tax planning at the enterprise are presented, on this basis it is concluded on the feasibility of its application at different stages of the life cycle of an economic entity – from establishing to liquidation. In the process of implementing tax planning, it is important not only to predict the result that needs to be achieved, but also to choose the best way to achieve it. Accordingly, the key attention in the publication is paid to the methods of tax planning, including: choice of accounting policy; selection of the place of registration and territorial location; selection of remuneration form; use of deficiencies and gaps in tax legislation; use of tax benefits and exemptions; use of preferential taxation territories; cooperation with preferential counter-parties; maintaining the tax calendar; change in terms of payment of taxes; delegation of tax liability; changes in forms of economic relations; reduction of the tax base; division of economic relations, etc. Depending on the chosen methods, tax planning can cover all financial and economic activities in general, and extend only to a certain part of it, e.g., type of activity, separate agreement or transaction.