Tax planning is carried out to minimize the tax burden that must be paid to the state. So, the amount of tax paid will not exceed the actual amount. In tax planning, taxpayers will take advantage of things that are not regulated by law as loopholes to minimize the tax burden with the help of a professional tax planning Noosa service. Some of you may ask whether tax planning is legal and allowed? Don’t worry, even though this is an effort to reduce the tax burden, in the process, tax planning is carried out while adhering to the prevailing regulations. The main benefit of tax planning is to reduce the burden on the company. Of course, you know that paying taxes is a big expense for companies. With tax planning, companies can allocate more funds to other posts.
Apart from reducing the tax burden, another tax planning objective is to arrange for the tax paid is not more than the amount it should be. So that the calculation of taxes is carried out by the regulations so that there are no problems that arise when there is an audit from the tax office. Problems that arise in this examination can result in fines or other sanctions. As a form of tax management, tax planning has become a popular choice for companies. But did you know, many tax planning strategies can be taken? Each strategy has different functions and uses.
Tax avoidance is the taxpayer’s effort to avoid taxation by making transactions that are not included in the tax object. An example of tax planning using tax avoidance is changing employee benefits to in-kind. While tax saving effort is the efficiency of the tax burden by using the alternative selection of taxation that has a lower rate. For example, a company changes its in-kind giving from goods to money. Value-added tax can be included in tax planning with a tax delay strategy. Companies can postpone payments by delaying the issuance of output tax invoices to the maximum limit.