Tax Accounting is one of the most important areas of accounting, given that Brazilian tax legislation is quite complex and requires specific knowledge for its correct application. This area is responsible for carrying out tax planning, calculating taxes and preparing company tax returns.
One of the main objectives of Tax Accounting is to minimize the tax burden of companies, in a legal way, thus avoiding the incidence of fines and assessments by the inspection bodies. For this, it is necessary to know in depth the tax laws, accounting standards and the particularities of each company.
One of the main activities of Tax Accounting is the calculation of taxes owed by companies, which may vary according to the tax regime adopted. In Brazil, there are three main tax regimes: the Simples Nacional, the Presumed Profit and the Real Profit. Each of them has its particularities and requires specific knowledge for its correct application.
In addition to calculating taxes, Tax Accounting is also responsible for preparing company tax returns, such as Corporate Income Tax (IRPJ), Social Contribution on Net Income (CSLL), Social Integration Program (PIS) and Contribution for Social Security Financing (COFINS).
Another important activity of Tax Accounting is tax planning, which consists of analyzing the company's operations and identifying opportunities for tax savings. This planning can be done in several ways, such as choosing the most appropriate tax regime, using tax incentives, corporate reorganization and adopting strategies to reduce the tax calculation base.
Finally, it is important to highlight that Tax Accounting requires in-depth knowledge of tax laws and accounting standards, as well as analytical and planning skills. Therefore, it is essential to have trained and up-to-date professionals to ensure the companies' tax compliance and avoid problems with the inspection bodies.
