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MNC Consulting Group > Tax Planning

Tax Planning

We guide our clients through the process of tax planning whose aim is to achieve tax efficiency.

This objective is achieved through analyzing a firm’s financial situation as well as the firm’s industry to ensure that the strategies, operations as well other elements of the firm are all geared towards tax efficiency. The main aim is to legally reduce the tax liability payable by the firm while efficiently and optimally utilizing the available resources.

Tax planning plays an essential role towards success any business venture. Our tax planning services enable our clients not only to save on taxes, but also, adapt to changes in the tax environment, mitigate risks, save on expenses as well as identify and seize growth opportunities.

Our tax planning is broadly categorized to:

  • Permissive tax planning – This is tax planning under various provisions of the taxation laws. It involves making use of measures such as tax deductions, tax incentives, tax reliefs and exemptions to save on taxes.
  • Purposive tax planning – It involves tax planning with a particular objective in mind. It is aimed at ensuring maximum benefit and/or optimal output from an investment.
  • Long term tax planning – These are tax measures developed and adopted at the beginning of a financial year. The impact of the measures does not occur immediately but rather after a long period of time.
  • Short terms tax planning – These are tax measures developed and adopted at the end of financial year. This planning is made by investors in effort to reduce their tax liability as their financial year come to an end.

The key pillars of our tax planning include:

  • Analysis of the financial situation of the firm, tax exposure as well as the industry of the firm,
  • Tax avoidance. This involves use of legal methods to minimize the tax liability payable by a firm for different obligations,
  • Taking advantage of tax reliefs, tax incentives and tax exemptions and,
  • Review of the implemented tax strategies.

Some of the benefits that accrue to our clients as a result of engaging our tax planning services include:

  • Reduction of tax liabilities,
  • Reduction in the number of tax disputes and tax litigation,
  • Efficient allocation of resources,
  • Saving on expenses,
  • Increased productivity and,
  • Improved efficiency.

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