Tax Monitoring and Internal Tax Control: Application Opportunities

The article provides a comparative analysis of tax monitoring and internal tax control. The purpose of the study is to determine the scope of application and advantages of tax monitoring and internal tax control to improve the efficiency of the taxation system. In accordance with the purpose, the following tasks were solved during the study: the content, features and tools of internal tax control were analyzed; the possibilities and tools of tax monitoring were determined; the similarities and differences between financial audit and internal tax control were identified. The result of the study is the determination of the algorithm for conducting tax monitoring and the identification of its advantages associated with the implementation of a risk-oriented approach. It is concluded that the growing number of business entities prefer tax monitoring, which helps prevent controversial situations in the interactions of organizations with tax authorities and the formation of effective tools for managing tax risks.