Content of
Tax avoidance plan
It refers to the taxpayer's plan to obtain tax benefits by non-illegal means, that is, means that are in line with the provisions of the tax law on the surface but violate the legislative spirit in essence. Tax planning is neither illegal nor legal, which is essentially different from tax evasion by taxpayers who don't respect the law. The state can only take anti-tax avoidance measures to control it, that is, constantly improve the tax law, fill gaps and plug loopholes.
Tax saving planning
It refers to the taxpayer's behavior of making full use of a series of preferential policies such as the starting point, tax reduction and exemption inherent in the tax law, and achieving the purpose of paying less or even not paying taxes through ingenious arrangements for financing, investment and business activities.
Transfer planning
It refers to the economic behavior that taxpayers pass the tax burden on to others through price adjustment in order to reduce the tax burden.
Realize tax-related zero risk
It refers to a state in which the taxpayer's accounts are clear, the tax declaration is correct, the tax payment is timely and full, and there will be no punishment in taxation, that is, there is no risk in taxation, or the risk can be ignored. Although the realization of this state can not make taxpayers directly obtain tax benefits, it can indirectly obtain certain economic benefits, which is more conducive to the long-term development and scale expansion of enterprises.
Practical application of tax planning in modern enterprises
Tax planning in the process of fund-raising is the premise for enterprises to carry out business activities. Enterprises can raise the required funds from various channels in different ways, which requires financing decisions. Tax planning in financing decision-making is helpful for enterprises to reduce capital cost, optimize capital structure and increase owners' income.
Generally speaking, there are two forms for enterprises to raise external funds: issuing stocks and bonds. From different angles, these two forms have their own advantages and disadvantages. As far as corporate tax planning is concerned, issuing bonds has more advantages than issuing stocks. This is because the handling fees and interest expenses incurred in issuing bonds can be included in the financial expenses of projects under construction or enterprises according to the provisions of the financial system.
As a tax deduction item, financial expenses can be charged before tax, so enterprises can pay less income tax. The dividend paid to shareholders by issuing stocks is paid with after-tax profits, which is more than the income tax of issuing bonds. Therefore, under the premise of not violating the national economic policy, enterprises can not only raise funds but also save taxes and increase capital through tax planning. Of course, it should be noted that in the tax planning of financing decisions, sometimes the reduction of tax burden does not necessarily mean the increase of owners' income. Therefore, we should not only pay attention to the income tax in fund-raising, but must take whether the enterprise can obtain the maximum after-tax income as the standard for choosing the fund-raising scheme.
2. Tax planning in the process of investment
The degree of tax burden will have a great influence on the investment decision of enterprises. Tax planning in investment decision-making mainly considers the investment direction, investment location, investment form and the choice of investment partners, and makes the best choice.
For example, from the perspective of investment methods, enterprise investment can be divided into direct investment and indirect investment. Indirect investment refers to the investment in financial assets such as stocks or bonds. According to the provisions of the tax law, the interest income from purchasing government bonds is exempted from enterprise income tax, and the income from purchasing corporate bonds is subject to income tax. The dividend from purchasing stocks is after-tax income, but it is risky. This requires corporate trade-offs. Direct investment involves many tax issues and needs to face various turnover taxes, income taxes, property taxes, behavior taxes and so on. When choosing direct investment, enterprises should also compare the investment methods of monetary funds and non-monetary funds.
When an enterprise invests in fixed assets and intangible assets abroad, it must evaluate the assets, and the invested enterprise can determine the taxable cost of the assets according to the value confirmed by the evaluation. If the assets are reasonably increased, the investor shall confirm the income from the transfer of non-monetary assets and include it in the taxable income. If the transfer income is large and it is really difficult to pay taxes, with the approval of the tax authorities, the taxable income of each period can be amortized within five years. The investee can list the depreciation expense of fixed assets and amortization expense of intangible assets more, so as to reduce the taxable profit in the current period. If assets are assessed for impairment, investors can recognize them as non-monetary assets transfer losses, thus reducing taxable income.
3. Tax planning in the process of operation
Enterprise financial policy refers to carrying out internal accounting activities in accordance with a series of provisions such as cost accounting methods, calculation procedures, cost distribution and profit distribution allowed by state regulations. Through effective tax planning, the cost, expenses and profits can reach the best value and the tax burden can be reduced. It should be noted that once the financial policy of an enterprise is determined, it should not be changed at will, so it should be forward-looking when choosing the financial policy.
1. Selection of inventory valuation method and tax planning
Different inventory valuation methods will lead to different operating costs of enterprises, thus affecting taxable profits and income tax. According to the current tax law, inventory valuation can adopt different methods such as FIFO, LIFO, weighted average and moving average. Different inventory valuation methods have different effects on enterprise tax payment, so the best method should be chosen according to the specific situation. When the price continues to rise, we should choose the LIFO method to price the inventory, which not only meets the requirements of the principle of conservatism, but also reduces the inventory cost at the end of the period and increases the cost of goods sold, thus reducing the burden of enterprise income tax and increasing the after-tax profit. When prices continue to fall, we should choose the first-in first-out method to calculate the price, which can reduce the inventory value at the end of the period and increase the cost of sales, thus reducing the taxable income and achieving the purpose of "saving taxes"; In the case of price fluctuation, it is advisable to choose the weighted average method or the moving average method, which can avoid the fluctuation of taxable income in each period caused by the change of profits in each period and increase the difficulty for enterprises to arrange funds.
2. The choice of depreciation method and tax planning
Because depreciation should be included in the product cost or period expense, it is directly related to the current cost, expense, profit and income tax payable of the enterprise. Therefore, it is particularly important to choose depreciation method and calculate depreciation. The depreciation methods of fixed assets include average life method, workload method, sum of years method and double declining balance method, and different depreciation methods have different effects on taxpayers. If you choose accelerated depreciation methods such as double declining balance method or sum of years method, you can extract more depreciation in the early stage of asset use, so that enterprises can pay less income tax and play the role of delaying tax payment and implicit tax reduction. For enterprises, deferred tax payment is undoubtedly an interest-free loan from the state, which reduces the capital cost of enterprises.
When calculating depreciation, the following factors are mainly considered: original value of fixed assets, net residual value of fixed assets and depreciation period of fixed assets. Because the new accounting system and tax law do not stipulate the expected service life and estimated net salvage value of fixed assets, enterprises can choose the depreciation period of fixed assets that is beneficial to them according to their own specific conditions, so as to achieve tax saving and other financial management purposes of enterprises. For enterprises that are in the normal production and operation period and do not enjoy preferential tax treatment, shortening the depreciation period of fixed assets can often accelerate the recovery of the cost of fixed assets, and make the later cost of enterprises move forward, thus obtaining the benefits of deferred tax payment.
3. Cost selection and tax planning
Regarding expenses, the guiding ideology of tax planning is to share the current expenses as much as possible within the scope permitted by the tax law, predict the possible losses, reduce the income tax payable and the statutory deferred tax payment time, and obtain tax benefits. The usual practice is:
1 The incurred expenses shall be written off and recorded in time, and the incurred bad debts, inventory losses and reasonable parts damage shall be recorded as expenses as soon as possible.
2. Expenses and losses that can be reasonably estimated shall be recorded in a timely manner by withholding, such as business entertainment expenses and public welfare relief donations. , and accurately grasp the allowable expenses, and fully collect the part within the limit.
Shorten the amortization period of costs and expenses as much as possible, thus increasing the expenses of previous years, delaying the tax payment time and achieving the purpose of tax saving.