In recent years, there has been a significant transformation in the publicity of data on companies registered in various countries. If previously most states sought maximum transparency of corporate information, providing free access to data on owners, shareholders and beneficiaries, today the trend has changed. More and more countries are restricting access to this information, which complicates the screening and compliance procedures.

This trend is largely related to global political and economic instability, increased international sanctions and geopolitical risks. Open data makes it easier to impose sanctions, so many states prefer non-disclosure in order to ensure internal security and protect their companies from external pressure. As a result, screening of foreign counterparties become more complex and require specialized tools and methods.

Understanding new challenges and effectively using available tools is the basis for building safe and reliable business relationships.

Screening of foreign counterparties is based on internationally recognized standards and best compliance practices. Key aspects include:

Information and Analytical system Globas offers effective solutions for comprehensive check of foreign companies, allowing to compensate for the lack of public data and reduce risks when doing business in the international arena. Globas provides the following tools:

Besides Russia checking for companies from Belarus, Kazakhstan, Kyrgyzstan, Latvia, Moldova, Tajikistan and Ukraine is available in Globas subscription. The data includes factors 'Require attention', the possibility of checking managers, shareholders, beneficiaries, assessing sanctions risks, the availability of licenses, data on branches, subsidiaries, affiliates, information on inclusion into various lists, financial indicators and financial statements, legal proceedings in the Russian Federation, etc.

For companies from Belarus, Kazakhstan and Kyrgyzstan, data on planned and extraordinary inspections carried out by supervisory authorities are additionally available, which is important for analyzing the identified violations and assessing potential operational risks.

Online report can be ordered for more than 527 million companies from Europe, America, Africa and the Asia-Pacific region. Basic information about companies worldwide is provided.

For a more detailed check, you can place an off-line order for fresh investigations, which are prepared by Credinform experts. Offline reports contain key data, including registration data (date of registration, number, status), contact details, data on management, shareholders, types of activities, authorized capital, financial statements if available, banks, etc.

Additionally, our experts screen for the following data:

You can quickly find and receive detailed information about companies from China within 1-2 hours. Globas instantly provides basic information, and if necessary, you can place an order for detailed information directly from the search results.

The service provides a number of advantages:

Legal Risk Reports for companies registered in Bahrain, UAE, Oman and Saudi Arabia are available. The reports include data on litigation (parties, court, amount of claims), bankruptcy and liquidation information, corporate events (change in authorized capital, change of name, cancellation of license), as well as information on registration of real estate pledge.

Globas helps to effectively overcome the limitations associated with the shortage of public data, providing a comprehensive compliance check of foreign counterparties. Use Globas to increase trust and reduce risks when building international business relations.

The field tax inspection is one of the most strict and detailed forms of control applied by the Russian tax authorities. The financial and economic activities of the company for a specific period are analyzed during the inspection. These inspections often include a visit of inspectors to the enterprise to study primary documents and other data. The results of inspection can lead to additional charges of taxes, penalties, fines and even become the basis for litigation. In the Newsletter, we inform why it is important to check counterparties for tax risks, how to do it yourself, and how Globas can help.

The purpose of the field tax inspection is verify the accuracy of the calculation, withholding and transfer of taxes to the budget. When choosing companies for inspections, the tax authorities are guided by certain risk criteria that reflect both the financial and organizational characteristics of the company. These criteria are specified in the Concept for planning field inspections of the Federal Tax Service and are divided into several categories:

It is important to understand that not only the company itself, but also its business partners may fall under the risks. Cooperation with unreliable counterparties can raise questions from the tax authorities, even if the company complies with all the requirements. Therefore, checking partners for compliance with risk criteria is an important part of tax control and business protection.

Cooperation with counterparties inevitably leads participation in a common chain of financial transactions. If one of the partners violates tax requirements, this can create risks for other participants. The main reasons why to check partners:

Financial stability. An unreliable partner could be at the centre of a tax investigation, which would jeopardize its solvency and cause problems for your business.

Reputational consequences. Cooperation with counterparties that raise questions for tax authorities can have a negative impact on your company's reputation.

Tax risks. If a partner violates the law, transactions may be recognized as fictitious, which will lead to a revision of tax obligations and possible fines.

Several approaches can be used to check partners:

However, self-made analysis requires time, skills and access to different sources. Therefore, a convenient solution may be to use automated systems like Globas, which allow you to quickly obtain a comprehensive assessment of a partner.

Globas includes a special "Risk of tax inspection" section, which allows you to quickly assess companies and their counterparties for tax risks.

The section is created on the basis of the Concept of the planning system for field tax audits, approved by the Order of the Federal Tax Service of Russia No. MM-3-06/333 @ dated May 30, 2007. The concept contains a list of 12 publicly available criteria recommended for self-made assessment of tax risk.

In Globas, an automatic check is carried out under 12 criteria, which eliminates the need to independently carry out calculations, search for industry averages figures or collect data from open sources.

The section presents ready-made analysis results for each criterion with corresponding conclusions. Detailed information on the calculation of indicators and on what data it is based on is also available.

The Risk of tax inspection section allows you to quickly obtain information about the company's tax risks, while minimizing the labor costs of the expert responsible for the inspection.