What is the importance of corporate tax planning? Why are taxes important to our economy? What are corporate tax planning strategies? Tax planning helps channelize taxable income to various investment plans. Tax planning helps you save money. Tax planning enables corporates to contribute towards the economic growth of our country. Doesn’t it promote economic stability. Taxation not only pays for public goods and services; it is also a key ingredient in the social contract between citizens and the economy. How taxes are raised and spent can determine a government's very legitimacy, right? What is the significance of taxation? Taxes generally contribute to the gross domestic product (GDP) of a country. Because of this contribution, taxes help spur economic growth which in turn has a ripple effect on the country's economy, right? Why do we need to study taxation? Taxing citizens is a vital method of financing the most essential public sector activities, such as the courts, the legal system, national defense and police protection. In addition, it provides the means for producing social programs, such as public health services, education and welfare. Don’t you want to know further about the concepts of corporate tax? Let’s get to know more about the topic, shall we?

Sruthy Santhosh

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