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MNC Consulting Group > Tax Planning

Tax Planning

Tax planning is a process that involves analyzing financial plans from a tax perspective. It helps to utilize the tax exemption, deductions, and benefits offered by the authorities in the best way to minimize liabilities.

Tax Planning Services

At MNC, we guide our clients through the process of tax planning whose aim is legal to reduce the tax liability payable by the firm while efficiently and optimally utilizing the available resources. Our tax planning services enable our clients not only to save on taxes but also to adapt to changes in the tax environment, mitigate risks, save on expenses as well as identify and seize growth opportunities.

Advantages of tax planning

  • Helps to minimize/ resolve tax disputes with local, state, or foreign tax authorities.
  • Tax planning helps taxpayers to reduce the tax burden and save money for future
  • Effective tax planning provides a healthy inflow of money and this leads to economic stability
  • Good tax planning helps in channelizing funds from taxable sources to different income-generating plans

Our tax planning services is broadly categorized to:

  • Permissive tax planning; 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; 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 the financial year. This planning is made by investors in an effort to reduce their tax liability as their financial year comes to an end.

Benefits of our tax planning services

our tax planning services helps in;

  • 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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