Optimization of taxation

Optimization of taxation

Author

Prykhodko Andrii

Optimization of taxation

While entrepreneurs are struggling to cut overhead costs and generate higher net income, the phrase “tax optimization” has begun to raise some concerns. The reason for this is the use by many companies of “gray” and “black” tax minimization schemes, and as one of the consequences – bringing managers to responsibility under Article 212 of the Criminal Code of Ukraine for tax evasion.

Tax optimization must be done competently!In the legislation, you can find a sufficient number of opportunities, benefits and exemptions to legally reduce taxes. For you to be able to take advantage of all this, the specialists of Prikhodko & Partners Law Firm offer their assistance.Andrey Prikhodko

What is white tax optimization?

So far, only a small part of Ukrainian entrepreneurs use tax optimization tools, which is due to:

misunderstanding of this procedure;

a situational attitude to business.

Important! Tax planning and tax optimization is a complex of organizational measures strictly in the legal field, which are aimed at calculating and choosing the most profitable taxation schemes, both in terms of the company’s activities as a whole and for individual transactions and / or projects.

Optimization of the tax burden includes:

• miscalculation of the tax amount for the same period on different taxation systems;
• calculation of the share of VAT payers;
• analysis of the results obtained and selection of the optimal taxation system (if necessary, change the taxation system);
• obtaining / canceling the status of a VAT payer;
• distribution of income.

What tax optimization methods can you legally use?

After completing the basic steps mentioned above, special methods are used. Due to them, the optimization of tax payments is achieved:

Application of tax incentives.
The state stimulates some spheres of activity due to their social significance and/or the impossibility of budget financing. Legal tax optimization is carried out with reference to the categories of business entities, types of activities, types of goods/services.

Determination of the company’s
development strategy, for example – the creation of low-tax branches/divisions, the use of a foreign element, the provision of jobs for people with disabilities, the determination of the optimal number of employees, and so on.

The optimal choice of accounting methodology.

For your information!If you are interested in tax optimization by example, you can only talk about information for general information. The optimization of salary taxes popular among Ukrainian entrepreneurs through the registration of employees-sole proprietorship under the contract today came into the zone of close attention of the tax authorities, as well as the optimization of income tax using the sole proprietor. To implement a particular scheme, you must first consult with a lawyer.

 

What does the tax planning and tax optimization service from Prikhodko & Partners include?

Specialists of the tax law practice at Prikhodko & Partners Law Firm are fluent in all the necessary tools tax optimization:

• organizational and legal,
• functional,
• temporary,
• situational.

Tax optimization and tax planning is based on constant monitoring of legislative changes, as well as the most important initiatives in the field of taxation. And this is all at the heart of achieving a result with minimal errors and without risks.

Tax optimization service includes:

We emphasize that we only use legal methods to optimize taxes. Contact us!

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