Significance of tax planning
Every time a new financial year begins, it is essential that the company prepares an effective financial plan, to find tax and accounting strategies to reduce the amount paid with taxes, generate profit for the business, reduce costs and achieve better results. Tax planning is a measure used that allows the company to reduce its tax burden through legal means, becoming extremely important as it allows the company to organize itself and find a way to take advantage of all the tax benefits available. Why is it important to have tax planning in your company? A well-done tax planning aligned with business strategies directly impacts the company’s success. See the reasons: reduces business costs, without interfering with the quality of the product or service provided; controls cash flow, as tax payments can be made in a variety of ways upon receipt of a sale; decreases or eliminates unnecessary tax payments; increases the company’s competitiveness in the market; promotes t...