The legislator has foreseen potential oscillations and regulated potential changes in the amount of monthly income tax advances by the Article 68 of the Income Tax Law. This means that this article stipulates the possibility to submit Periodical Tax Basis Balance Sheet in order to consolidate the income tax for the current period as adequately as possible.
Balance sheet and income statement are traditional finance statements. However, apart from these, a set of statements, among which cash flow statement is the most significant, is also very important. Cash flow statements are classified into three groups:
Financial statements provide the information about performance assessment to both external (investors, creditors, tax authorities, statistical authorities, etc.) and internal users (employees, owners, managers, etc.).
