Integrated Application Study For Tax Planning In Financial Management

As the reform of tax system deepens and the system is becoming complete, the enterprise is pushed to the competition of tax control. And the basement of the financial management is changed to make good use of the tax lever after paying the tax according to the law so as to integrate the financial activities and tax planning. Further, the enterprise can achieve the target of value maximization.In the essay it makes out comprehensive research on the integration of tax planning with financial management by using normative analysis associated with case analysis for tax payer's sake. It is consisted by four parts: In the first part, it starts from internal relationship between tax planning and financial management, and introduce the research background, notion, significance and creative point. In the second part, it retrospects the configuration and theory for tax planning, and figures out the pertinence between tax planning and aim of financial management, function of financial management. In the third part, it takes the four campaigns in financial management as platform to introduce concrete strategies of integration of tax planning with enterprises' fund raising, investment, operation and profit distribution. First, through analysis for capital structure theory, it illustrates the effect of tax paying on enterprises' financing capital structure. Next, through designing the questionnaire and form of tax planning, it expatiates how to carry out tax planning in cost manner choosing, revenue manner choosing and purchase & sale. At last, it points out in the process of financial achievement distribution, it creates the possibility for tax planning because of the difference between tax policies and preferential policies. Due to the dual character of tax planning, the tax payer obtain tax profit at the cost of risks. In the fourth part, the author continues to control the financial risk in four parts include fund raising, investment, operation and profit distribution. In the part of operation, the author introduces the tax paying calculation index and financial index analyzing methods to build financial risks control system in tax planning, it takes A group corporation for example to introduce the application of risks control system for tax planning in group corporations.Finally a conclusion is drawn: tax planning is the financial activity that connects with tax. At the same time, tax planning is a systematic activity which needs comprehensive consideration of the integrated effect. The purpose of purely decreasing the amount of tax should be dismissed. In practice, the attention should be paid to the integration of tax planning with financial management activities to maximize the enterprise value.