Effective Tax Management: Selected Issues and Solutions in International Practice

Abstract

Contemporary government and business sector relations are primarily built on fiscal foundations which rooted from a dilemma of further strengthening for sound performance and tightening for poor performance. Business rounds around the world admit that an effective tax management can be central to thinking of beneficial interaction with tax authorities to keep the relations in mutually fair way. Considering the effects of global financial crisis in global business environment, fiscal profile and behavior of many crisis-hit economies, visibility of relevance of effective tax management may be far-reaching and prioritized in the context of tight tax policies and pressures. This article examines the theoretical and empirical approaches to tax management practices and proposes a tailored effective tax management framework based on comparative analysis and current global economic condition.

Keywords: effective tax management, tax strategy, tax risk.