August 4, 2009. IBS Borlas specialists have presented a new solution, “Profit Tax Accounting System”, designed to be used as part of corporate management systems based on Oracle E-Business Suite. This solution significantly simplifies and expedites business processes of Russian enterprises in preparation of their tax reports.
From the technical viewpoint, the profit tax accounting system is an expansion of the Oracle E-Business Suite complex of applications. It utilises the same technologies and components as this ERP-system. Oracle E-Business Suite financial applications are used as the source of data.
The new solution helps account for the profit tax in compliance with the requirements of Chapter 25 of the RF Tax Code. For example:
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It helps generate analytical tax accounting registries;
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It helps organisations to prepare their profit tax declarations;
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It helps account for permanent and temporary differences for each subject as per the PBU18 requirements.
Yuri Kirilin, the Director of the IBS Borlas project designed to develop and deploy the profit tax accounting system, advised as follows: “Our solution takes into account specific requirements of the Russian legislation and organically complements the Oracle business applications. Our experience shows that the system ensures transparency, reliability, efficiency, and precision of tax reports and, consequently, minimises businesses’ tax risks”.
It is important that service reports that are part of the solution can be used by accountants for self-verification, as well as for comparison and verification of tax and accounting data. The solution is easy to modify should applicable laws change.
The solution can be deployed as part of a large-scale ERP-project or integrated with an existing corporate information system. IBS Borlas specialists have previously deployed the solution’s prototypes at the Vanino commercial seaport, Perm city district power station, and at a number of other enterprises.
Companies’ Profiles
IBS Borlas is part of IBS and specializes in building management systems based on Oracle E-Business Suite applications and other products of Oracle Corporation. An Oracle Master Partner, IBS Borlas has the strongest Oracle E-Business Suite team in the Russian market, with over 500 consultants and professionals having a track record of more than 50 projects. IBS Borlas is the only first-line technical support centre among Oracle partners, for both Oracle basic products and Oracle business applications, and the Competence Centre for Oracle's four core technology areas. For more information on the company please visit http://www.borlas.com/.
IBS is the leader in the Russian IT and consulting market. Along with Luxoft, it is part of IBS Group Holding Limited. Its core lines of business span management consulting, implementation of business applications, IT outsourcing and IT infrastructure. IBS headcount is about 3,000 employees including over 1,500 certified consultants and professionals. IBS customer base includes 34 of Russia’s top 50 companies. For more information on IBS, please visit http://www.ibs-company.com/.
For further information about the company, please contact Lada Scherbakova, PR Director at 007 (495) 967 8080, or by e-mail at lada@ibs.ru.
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