The Case For Improved Tax Management in Turkish Businesses

Abstract

Taxes are an essential part of public income. They have become the most important financial source of public expenditure and act as a critical economic tool. As a natural result of these functions, taxes have becomestructurally very complex. In this context, with the expansion of tax laws, many exceptions and discounts have been introduced for socio-economic purposes, and tax legislation has made it complex and difficult to understand, resulting in tax disputes. These developments make it mandatory for businesses to consider tax management as a critical element in their planning. Companies can manage their tax burdens through tax planning, preventing possible risks and disputes. This study explains tax management, the concepts closely related to it, the reasons that lead businesses to include it in their planning, and its goals and objectives. Tax management in the international arena and Turkey are included in this report, as are the shortcomings and proposals specific to Turkey. This study develops and compares the concept of tax management with similar ideas, and then examines the catalysts for businesses to incorporate it into their operations. Our results showed that the tax management phenomenon in Turkey does not have the impact it should. In the digitized world, the management umbrella should be effectively engaged for Turkish corporations to continue managing assets with confidence in the future. To reach the stated result, we conducted a review of the literature for this study.

Keywords

• tax
• tax management
• tax planning
• tax risk management
• tax process management