International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 6 Issue 4
July-August 2024

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Navigating the Nexus of Tax Avoidance and Strategic Planning: Insights and Strategies

Author(s) ABHINAV SHARMA, RAJINDER VERMA
Country India
Abstract Tax avoidance and tax planning are two concepts often discussed in the context of corporate governance, financial management, and government fiscal policy. While both aim to minimize tax liabilities, they differ significantly in their legality, ethical considerations, and long-term implications. Tax planning involves strategic decisions within the bounds of tax laws to optimize tax efficiency, ensuring compliance while maximizing benefits for stakeholders. In contrast, tax avoidance exploits loopholes or ambiguities in tax laws to reduce tax burdens, sometimes pushing the boundaries of legality and ethical standards. This abstract explores the distinctions between tax planning and tax avoidance, their impacts on financial transparency, corporate social responsibility, and regulatory responses worldwide. Understanding these distinctions is crucial for policymakers, corporations, and taxpayers navigating the complexities of modern taxation systems.
This paper is a humble effort to understand the concept of ‘Tax Evasion’ and ‘Tax Planning’ difference between these two concepts. It also explores how can existing legal aids be made more accessible and reap better results.
Field Sociology > Administration / Law / Management
Published In Volume 6, Issue 4, July-August 2024
Published On 2024-07-14
Cite This Navigating the Nexus of Tax Avoidance and Strategic Planning: Insights and Strategies - ABHINAV SHARMA, RAJINDER VERMA - IJFMR Volume 6, Issue 4, July-August 2024. DOI 10.36948/ijfmr.2024.v06i04.24658
DOI https://doi.org/10.36948/ijfmr.2024.v06i04.24658
Short DOI https://doi.org/gt4gf6
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