Tax Planning Tips and Examples 2023

Tax planning itself can divide into two types, namely domestic tax planning and international tax planning. In national tax planning, the guidelines are national laws and regulations. The first type is for Indonesian companies or companies with domestic trade only.

International tax plans, on the other hand, are companies doing business both domestically and internationally. Business actors must not only follow domestic laws, but also pay attention to the tax treaties.

Tax Planning Tips and Examples

As a form of tax management, tax planning has become a popular choice for companies. But do you know, there are at least 5 strategies that can take. Each strategy has different functions and uses. We will discuss it briefly and clearly through the reviews below:

1. Tax Avoidance

This is an effort by taxpayers to avoid taxation by conducting transactions that are not include in the tax object. An example of tax planning using tax avoidance is changing employee benefits to in-kind.

2. Avoid Breaking the Rules

In doing tax planning, make sure you know all the relevant regulations. This is done so that you are not subject to tax sanctions ranging from administrative to criminal.

The use of tools in the company is very necessary if you are still having trouble calculating taxes. One of the recommend tools is online accounting software. This software will not only help you calculate taxes, but also complete the accounting cycle within the company.

3. Tax Saving

This effort is the efficiency of the tax burden by using the selection of alternative tax impositions that have lower rates. For example, the company changes the gift in kind from the form of goods into money.

4. Optimize Tax Credit

Not all taxpayers know that they can credit taxes that have been withheld. Though this option can be a good strategy to minimize the tax burden. But you have to remember, optimizing this tax credit must be done in accordance with applicable regulations. So make sure you research in advance for tax credit issues.

5. Delay Paying Taxes

Value Added Tax can be include in tax planning with a tax delay strategy. Companies can delay VAT payments by delaying the issuance of output tax invoices to the maximum limit. You can pay this VAT at the end of the following month.

Harmony Accounting Software

Harmony accounting software is full-features for use in many types of businesses. So, from journaling, general ledger, financial reporting to tax calculation, everything is done quickly and deeply integrate. Then, to enable the company’s operations to run more effectively and efficiently.