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Tax Planning in the System of Accounting and Management Information Space

Author

Listed:
  • Inna Khovrak

    (Kremenchuk Mykhailo Ostrohradskyi National University, Kremenchuk, Ukraine)

  • Dariia Vovk

    (Kremenchuk Mykhailo Ostrohradskyi National University, Kremenchuk, Ukraine)

Abstract

Making rational management decisions requires knowledge and consideration not only of the internal potential of the enterprise, but also the external conditions of its operation. Accordingly, the accuracy of management decisions and the ability to adapt to a changing environment determine the effectiveness of activities. The country's tax system is an extremely powerful external condition, so the tax planning of enterprises and the quality of management directly affects not only the economic efficiency and competitiveness of enterprises, but also the trajectory of the country's development. The purpose of the article is to establish and justify the specifics of tax planning in the system of accounting and management information space. To achieve this goal, the authors used such methods and techniques of cognitive theory as content analysis (to review publications on tax planning in the Web of Science Core Collection for 2000-2020), statistical analysis (to determine the tax burden on the economy of Ukraine), abstract logical analysis (to substantiate the specifics of decision-making in the process of tax planning), tabular and graphical methods (to visualize the results of the study). This allowed the authors to define the principles of tax planning in the accounting and management information space. These principles include: communication (development and implementation of strategies based on stakeholder dialogue, taking into account needs, promoting better decision making), use of the best available information (information should be reliable and contextual), assessment of the impact on the value of the enterprise (modeling the effectiveness of alternative solutions, classification of actions according to their impact and consequences), smart management (accountability and trust, sustainability in the long run, ethics and social responsibility). It is proved that the implementation of tax planning in the system of accounting and management information space allows to achieve the established priorities and should be an element of enterprise development strategy.

Suggested Citation

  • Inna Khovrak & Dariia Vovk, 2020. "Tax Planning in the System of Accounting and Management Information Space," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 75-81, December.
    • Handle: RePEc:iaf:journl:y:2020:i:4:p:75-81
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    References listed on IDEAS

    as
    1. Abdul Wahab, Nor Shaipah & Holland, Kevin, 2012. "Tax planning, corporate governance and equity value," The British Accounting Review, Elsevier, vol. 44(2), pages 111-124.
    2. Nataliya Synyutka, 2019. "Transformation of Taxation and Tax Procedures in the Information Society: Theoretical Concept," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 100-106, September.
    3. Anne Van de Vijver & Danny Cassimon & Peter-Jan Engelen, 2020. "A Real Option Approach to Sustainable Corporate Tax Behavior," Sustainability, MDPI, vol. 12(13), pages 1-17, July.
    4. Vitaliy Shkromyda & Taras Hnatiuk & Nadiia Melnyk, 2019. "Tax Budgeting in the Enterprise in Conditions of the Variable Business Environment: to Be or not to Be," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 139-144, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    tax planning; information support; managerial accounting; taxes; tax burden; tax optimization;
    All these keywords.

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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