Auditax International provides Tax Planning and Advisory in Tanzania. This is to both local and multinationals. This include payroll structuring, withholding taxes, corporate taxes, VAT etc. We offer tax due diligence for companies under mergers /acquisitions. We provide Tax Planning and Advisory in Tanzania. This is by a way of a special advisory report.
Tax planning is arrangement of one’s financial affairs in such a way that, without violating in any way the legal provisions, full advantage is taken of all tax exemptions, deductions, concessions, rebates, allowances and other reliefs or benefits permitted under the tax laws. The burden of taxation on the taxpayer is reduced to the minimum. Tax planning is an attempt by a taxpayer to arrange his affairs in a way which attracts minimum tax liability. There is a very thin line between tax planning and tax avoidance. A majority of countries recognize the right of tax payers to undertake tax planning measures. Those which are purely or mainly tax driven are counteracted with legislative or judicial provisions. Tax payers should ensure that any tax planning scheme is a natural one. It should not give an appearance of an artificial arrangement on the face of it.
Reduction of taxes by legitimate means may take two forms. These are tax planning and tax avoidance. Tax planning is wider in range. Tax evasion is the willful failure to abide by the requirements of the tax law thus illegal. It is important to also note that the dividing line between “tax avoidance” and “tax evasion” is very thin.Tax legislations in Tanzania contain ‘anti-avoidance’ provisions.These give the Commissioner widespread discretional powers.
Contact us for Tax Planning and Advisory in Tanzania through our contact details on this website.