ANALYSIS OF THE ESSENCE OF DEFINITIONS OF «TAX PLANNING» OF TNCS IN CONDITIONS OF BEPS

Abstract

The article critically analyzes the definitions of domestic and foreign scholars of «tax planning», «corporate tax planning», and «aggressive tax planning». The study allowed the authors to identify similarities and distinctive features of these definitions. Researchers have note that in these definitions the purpose of the tax planning point out to reduce, minimize and optimize tax liabilities. At the same time, almost all researchers emphasize that tax planning should take place within the current legislation of the countries, and, as a rule, aimed at using existing tax preferences for industries and regions of countries. The article describes the types of tax preferences granted to Chinese companies and offered for consideration in the process of tax planning. The authors substantiated the interpretation of tax planning from the point of optimizing tax payments and tax burden in the medium and long term, taking the peculiarities of the domestic tax system. The article notes that domestic scholars emphasize the importance of reconciling the interests of the state and business entities in the process of developing models of tax planning at the present stage of economic development of country. The authors note that according to the subjective component of tax planning divided into corporate and individual. In addition, corporate tax planning often considered from the point of view of corporate financial management. The authors substantiate the need to apply the definition tax planning of TNCs using modern trends in the world economy. It is determined that one of the reasons for distinguishing the type of aggressive tax planning is the activities of multinational corporations, aimed at taking into using the mismatches and loopholes in the international tax framework to reduce their overall tax burden. The authors propose a definition of tax planning of multinational corporations, taking into using the measures of the BEPS project. This definition, in contrast to the existing ones, proposes to develop models of corporate activities in modern conditions using the principle of convergence of interests of states and companies.