Pogorelova T.G. Planning Budgetary and Extrabudgetary Fund Payments Calculated Based on Revenues of the Staff

Abstract: The optimization of tax expenditures and the balance of interests of all participants of tax relations in the presence of the economic crisis become the object of close attention of the government. A significant share of the financial outflow consists of obligatory payments to the budgetary and extrabudgetary funds payable from revenues of individuals working at an organization. Reduction of tax expenditures attributable to salary funds would increase the efficiency of the organization. Finding a reasonable compromise between the regulatory authority and the taxpayer, i.e. policyholder has become one of the main criteria of the process of tax planning. Elements of personal income tax determine the value of the tax base and payment to be paid including tax rates clearly presented in a tabular form and the current tax deduction system developed in a form of a schema. In addition, the researcher identifies the essential aspects of planning and offers legitimate methods to minimize tax expenses attributable to the income of employees at an organization. The analyzed data are of interest primarily for practitioners in the financial service of business entities with employees as well as for students of economic specialties as a supplement to courses in taxation.

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