Research On Enterprise Income Tax Planning In The Perspective Of Financial Management

Tax planning is a planning and arrangement which taxpayers make to minimize their tax cost and thus maximize the corporate or shareholders' wealthy by taking advantage of the tax preferential policy and taxpayers' right in accordance with the taxation laws. So tax planning is a part of financial activity. It must obey the whole arrangement of financial management under the whole financial circumstance in order to realize the financial objective.To corporate, on one hand, tax planning can reduce tax cost to bring down the tax load directly and indirectly. And in this way, the profitability and return on investment can be raised to make corporate management in positive circle. On the other hand, tax planning can improve management especially financial management to allocate resource efficiently in order to realize the objective of maximizing the corporate or shareholders' wealthy. So tax planning can not only reduce tax burden of a corporate, but also can allocate resources in a proper way by choosing the right tax planning strategy and enhance awareness of the need to pay tax. In this way, the social objective can be realized. As one of the taxes by which our country participate in distributing corporate revenue, corporate income tax has a great impact on the realization of income and objectives of companies throughout of the financial decisions. And it has a wide source, great flexibility and wide space to arrange, so it is the key point that a corporate put its tax plan into practice.This thesis combines the qualitative analysis method with quantitative analysis method. And in the case study part, it use comparative analysis method. This thesis which stands on the new corporate income tax law mainly makes research on the whole parts of financial management, such as financing, investing, capital operating, and profit distribution and so on in order to find out the tax planning point. Then by comparative analysis to case studies, it supplies practical tax planning for corporate. It proves these plans really can reduce cost of corporate or acquire benefit of tax deferred. Among the whole financial management, financing tax planning focuses on the analysis of analysis of capital structure and finance leasing tax planning; investing tax planning focuses on the analysis of investment organization, region, industry and patterns tax planning; operating tax planning focuses on income tax rate, cost, expense, income; profit distribution focuses on the analysis of distribution time. Because of risks in tax planning, how to avoid or reduce these risks has much impact on the tax planning. This thesis recommends real option can be used in order to reduce tax planning risk and raise the value of tax planning.