The simple fact of verifying whether the activity of the company can be favored by any tax benefit, is part of those measures created as incentives to taxpayers, additional element of the tax base as in the case of deductions, or that can directly impact the tax to be paid as in the case of exemptions.
For the elaboration of a good tax planning it is necessary to have a trained and specialized personnel in the area, likewise an update can be made when it is deemed convenient, since it is a tool that helps the administration of resources involved in the calculation of the tax return and liquidation of the tax.
In addition to the duties and obligations of any company, the tax planning exercise should generate a basic guide of those matters that must be controlled and complied with before the regulatory and supervisory authorities.
Likewise, it is necessary to relate the ISLR with the formal duties derived from other taxes contributed by the taxpayer, in order to have a broad and complete vision of its annual tax burden, it is advisable to carry out a planning at the beginning of the fiscal year, so as to approximate the magnitude of the tax burden for the current period.
It is perceived that the tax planning carried out within the same is not the most adequate, since only the operative processes are taken into account and, in order to be appropriate, the processes of the administrative area as well as those of the accounting area of the company should also be included in it, so as to minimize the tax impact that falls on the profit, otherwise it would bring as consequences fines and penalties that affect the company financially.