IDEAS home Printed from https://ideas.repec.org/a/iaf/journl/y2020i4p75-81.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: http://www.afj.org.ua/pdf/794-podatkove-planuvannya-v-sistemi-oblikovo-upravlinskogo-informaciynogo-prostoru.pdf
    Download Restriction: no
    File URL: http://www.afj.org.ua/en/article/794/
    Download Restriction: no
    ---><---

    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)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peter, Zachariah & Kabir Hamid, Tahir & Ibrahim, Mohammed, 2020. "Board Attributes And Tax Planning Of Listed Non-Financial Companies In Nigeria," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 9(1), pages 130-146, March.
    2. Silvy Christina, 2019. "The Effect of Corporate Tax Planning On Firm Value," GATR Journals afr167, Global Academy of Training and Research (GATR) Enterprise.
    3. Kevin Holland & Sarah Lindop & Nor Shaipah Abdul Wahab, 2022. "How Do Managers and Shareholders Respond to Taxation? An Analysis of the Introduction of the UK Real Estate Investment Trust Legislation," Abacus, Accounting Foundation, University of Sydney, vol. 58(2), pages 334-364, June.
    4. Anne Vijver, 2022. "Morality of Lobbying for Tax Benefits: A Kantian Perspective," Journal of Business Ethics, Springer, vol. 181(1), pages 57-68, November.
    5. Khalid Ali Ahmad Alduneibat & Mohammad abdallah fayad altawalbeh & Firas Na'el Rawhi Hashem, 2017. "The Impact of Tax Planning in Industrial Public Joint Stock Companies upon the Performance of the Industrial Companies Listed in the Amman Stock Exchange Market," Accounting and Finance Research, Sciedu Press, vol. 6(2), pages 1-12, May.
    6. Ana Isabel Martins Ribeiro & António Cerqueira & Elísio Brandão, 2015. "The Determinants of Effective Tax Rates: Firms’ Characteristics and Corporate Governance," FEP Working Papers 567, Universidade do Porto, Faculdade de Economia do Porto.
    7. Ni, Yensen & Huang, Paoyu & Chiang, Pinhui & Liao, Yulu, 2019. "Cash flow statements and firm value: Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 280-290.
    8. Ofuan .J. Ilaboya & Monday .O. Izevbekhai & Friday .I. Ohiokha, 2016. "Tax Planning and Firm Value: A Review of Literature," Business and Management Research, Business and Management Research, Sciedu Press, vol. 5(2), pages 81-91, June.
    9. Adegbite, Emmanuel, 2015. "Good corporate governance in Nigeria: Antecedents, propositions and peculiarities," International Business Review, Elsevier, vol. 24(2), pages 319-330.
    10. Zhiying Hu & Haiyan Yang & Yuyu Zhang & Jenny Jing Wang, 2023. "Does common auditor have an impact on corporate tax avoidance? An investigation from the supply chain perspective," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 575-629, March.
    11. Overesch Michael, 2016. "Steuervermeidung multinationaler Unternehmen: Die Befunde der empirischen Forschung," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 17(2), pages 129-143, July.
    12. Akmalia M. Ariff & Khairul Anuar Kamarudin, 2019. "Institutional Quality, Tax Avoidance, and Analysts' Forecast: International Evidence," Capital Markets Review, Malaysian Finance Association, vol. 27(2), pages 15-35.
    13. Barros, Victor & Verga Matos, Pedro & Miranda Sarmento, Joaquim & Rino Vieira, Pedro, 2022. "M&A activity as a driver for better ESG performance," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    14. Abdul Wahab, Nor Shaipah & Ntim, Collins G. & Mohd Adnan, Mohd Muttaqin & Tye, Wei Ling, 2018. "Top management team heterogeneity, governance changes and book-tax differences," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 32(C), pages 30-46.
    15. Victor Barros & Joaquim Miranda Sarmento, 2020. "Board Meeting Attendance and Corporate Tax Avoidance: Evidence from the UK," Business Perspectives and Research, , vol. 8(1), pages 51-66, January.
    16. Devos, Erik & Rahman, Shofiqur, 2023. "Does labor unemployment insurance affect corporate tax aggressiveness?," International Review of Financial Analysis, Elsevier, vol. 90(C).
    17. Francesco Scarpa & Silvana Signori, 2023. "Understanding corporate tax responsibility: a systematic literature review," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 14(7), pages 179-201, June.
    18. Aleksandra Hlastec & Damijan Mumel & Lidija Hauptman, 2023. "Is There a Relationship between Self-Enhancement, Conservation and Personal Tax Culture?," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    19. Anastasia Kraft, 2014. "What Really Affects German Firms' Effective Tax Rate?," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 5(3), pages 1-19, July.
    20. Alfred James Kimea & Msizi Mkhize & Haruna Maama, 2023. "Firm-specific Determinants of Aggressive Tax Management among East African Firms," International Journal of Economics and Financial Issues, Econjournals, vol. 13(3), pages 100-108, May.

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iaf:journl:y:2020:i:4:p:75-81. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Serhiy Ostapchuk (email available below). General contact details of provider: https://edirc.repec.org/data/iafkvua.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.