DIRECTIONS FOR OPTIMIZING THE TAX BURDEN OF ENTERPRISES IN THE TAX PLANNING CONTEXT

Abstract

Insufficient attention to the tax factor at high tax rates leads to adverse consequences for taxpayers. Proper use of legal tax benefits not only ensures the preservation of financial savings, but also increases opportunities for financing or investment expanded. The application of generally accepted world standards of doing business by domestic economic entities creates the preconditions for the transition to civilized forms of economic activity: from tax evasion to purposeful statutory tax planning. In this context it is discussed in the article the possible legal ways to minimize the amount of taxes paid to prevent financial problems and maximize profits, which is achieved by effective tax planning and tax optimization. Tax planning determines the general directions of the organization of tax calculations at the enterprise, which correspond to specific circumstances at a certain moment and ensure strategic success. Economic security is increased; the growth of business and investment activity is promoted by planning tax payments, assessing the dynamics of tax rates. Tax rates reduction and optimization stimulates investment activity by releasing a certain part of the enterprises’ net profit. The real consequences of reducing the basic rates of value added tax for the company depend on the inflation level in the country, the state of payment discipline, the level of aggregate demand, the company's market strategy, areas of profit, the market monopolization degree. The introduction of investment tax benefits from the income tax proposed by specialists and widely used in developed countries would mean the transition from the provision of investment tax benefits on the sectoral and territorial selectivity principle to tax incentives for all investing companies. Further in the article, the directions of income tax optimization, providing several comprehensive approaches to reducing the tax burden of enterprises that pay income tax by legal methods was considered, namely, the optimization of the revenue side; increase costs; work with cash flows; funds transfer from the general taxation system to the enterprise paying the single tax, the using of leasing agreements.