In order to reduce the impact of taxes, the BusinessGoOn team uses various tools that are encompassed around three main objectives: deferral in the payment of taxes, tax savings and risk management.
In relation to the deferral in the payment of taxes, it helps us to make payments at the time that suits us best. For example, products such as pension plans and investment funds in personal income tax or some tax benefits in corporation tax.
Regarding tax savings, we do it by studying and analyzing the different operations and the daily operations of your activity.
In Corporation Tax, investments, accounting criteria, the possibility of applying any of the special regimes such as tax consolidation, adjustments to the tax base or applicable deductions are analyzed.
Regarding VAT, the incidence of international operations, the deductibility of the tax, the accrual of the operations or the application of the different special regimes are studied.
This tax planning is also carried out from the perspective of the partners of the companies, reviewing its impact on personal income tax, on the sale of shares, the distribution of dividends or their remuneration, on the Wealth Tax, and on future succession.
And as a consequence, anticipation is also another important key in saving taxes. The most appropriate thing is to study each year in advance and decide the appropriate actions, and not wait until the end of it to try to make corrections in a hasty manner in the case of annual taxes, such as personal income tax or equity, corporation tax, etc. .
All this by rigorously monitoring the decisions made and the implementation of the chosen alternatives.
Regarding tax risk management, it is a concept that refers above all to the possibility of making modifications in tax regulations and even in the different interpretations of the law that may arise on the part of the tax authorities and the courts. .
If we know in depth the taxes that affect us and we plan in advance each of them we can achieve significant tax savings.
Almost all taxes are plannable and the actions we decide to carry out can affect one or more of them. This is one of the bases of good tax planning: it is necessary to take into account all the taxes that affect us in the business and private environment and not consider them as watertight compartments. But interrelated with each other.