Post by pujadas on Oct 18, 2023 3:50:19 GMT -5
Tax compliance is the practices adopted by a legal entity to comply with tax regulations. Furthermore, these are practices that cover not only taxes and ancillary obligations but also any bias that interferes with the company's taxation. The practice of adapting legal entities to mandatory regulations is not new. Even before the term compliance became popular, companies tried to adapt to legal standards to a greater or lesser extent. Whether for moral reasons or fear of applicable sanctions. In this article, you will learn everything a lawyer needs to know about tax compliance.
Content Index What is Tax Compliance? The importance of tax compliance How to apply compliance What do lawyers need to know about tax compliance? What is Tax Compliance? The idea of compliance, minimizing risks and maximizing efficiency is also whatsapp number listnothing new in the tax area. For example, there has been talk of tax planning and tax avoidance to reduce the tax burden on legal entities and avoid paying fines for tax irregularities. However, tax compliance is not only aimed at more economically efficient taxation, but also at anticipating problems, proposing solutions and preventing them from occurring.
The importance of tax compliance Because it is an area directly related to public administration in one of its centers and because it affects the economic health of the legal entity, tax compliance is extremely important. It is important that legal entities not only look for legitimate ways to reduce their taxation, but also avoid non-compliance with tax regulations and the resulting penalties. For example, the high fines according to art. 44, item I (75%) and § 1 (150%) of Law no. 9,430/96. It is always good to remember that such requirements in accordance with art. 135 of the CTN, especially in its section III, can be extended to: · manager; · or representative of legal entities governed by private law.
Additionally, failure to pay taxes can result in severe restrictions. This is the case of companies that wish to participate in public tenders or sign other types of contracts with the government, as they prevent the issuance of debt forgiveness certificates. In addition to the financial consequences, it should also be mentioned that failure to comply with certain tax obligations is a crime within the meaning of Law No. 8,137/1990. Another relevant point is that some tax deficits are not immediately felt or perceived by the taxpayer. In this way, there is a risk of falling into repeated misconduct. Because in a private relationship, non-payment by a supplier has immediate consequences.