Tax Audit and Investigation for Construction Companies
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Questions and Answers

What is a common feature of construction companies?

  • No related company transactions
  • High volume of turnover (correct)
  • Low turnover
  • No foreign affiliations

    • What method is typically used to determine interim income for long-term contracts in the construction industry?

  • Revenues recognition at project completion
  • Fixed cost allocation
  • Percentage of completion based on certifications (correct)
  • Time-based billing

    • What type of transactions are construction companies likely to have with related companies?

  • No transactions with related companies
  • Only domestic transactions
  • Exclusively financial transactions
  • Related company transactions (correct)

    • What is a common characteristic of construction companies' payments?

    <p>Foreign currency payments</p> Signup and view all the answers

    What method is used to determine interim income for long-term contracts in the construction industry?

    <p>Percentage of completion based on certifications</p> Signup and view all the answers

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