Tax Planning as a Basis of the System of Corporate Tax Management

Abstract

Topicality of the studied problem is predetermined by the necessity for improving the management of tax expenses of an economic subject, caused by the peculiarities of development of the taxation process in Russia and, as a consequence, by the taxpayers’ wish to optimize their tax liabilities. Thus, a need for theoretical and practical knowledge on formation of tax expenses and management of their volume on the basis of improving the tax strategy of an economic subject arises, which predetermines the emergence of independent sphere of financial management – tax management of organization (corporate tax management), which task is to optimize the management of tax liabilities at the micro-level. The purpose of the article is to determine and open the general tendencies and peculiarities of functioning and development of tax management at the corporate level. The leading approaches to studying this problem are the historical & legal and comparative & legal approaches, which allow for complex consideration of the process of functioning of tax management as an element of financial management and the object of economic & legal regulation. Results: the article views the causes of emergence of tax management: opens the general tendencies and peculiarities of its functioning; determines the most significant directions; reflects the stages and methods of tax planning; offers the algorithm of calculation of planned liabilities for the year and the variants of determining the effectiveness of tax management. The materials of the article are of practical value for specialists in the sphere of taxation and tax law; persons who conduct scientific research in the sphere of economic & legal regulation of tax policy of an economic subject; persons who conduct entrepreneurial and legislative activities.