Basic principles of tax business planning for the internet of things

Abstract

This article studies a current fundamental concept in arranging activities with tax risks within the company, i.e., tax business planning. An applied methodology of tax risk management is based on this concept. Other aspects of tax risk management are a general theory of risks and methodology for their management, including Deming cycles (PDSA) as well as taxes and fees legislation. Therefore, topicality of studying the concept of "Tax Business Planning" is the most useful just when we are talking about new products, new capabilities of usual things and services that are not explicitly mentioned in industry-specific legislation, especially in tax one. A remarkable example of this capability, which has established a new field of activity, is the Internet of Things. To assess tax risks and tax implications herein one pay attention not to the Tax Code of the Russian Federation, but to the methodology of tax risk management in a continuously changing world. On the basis of tax business planning methodology, it's possible to choose the most suitable approaches to taxation in the Internet of things.