Tax evasion

We are going through an important part in the legality of our business, we always have fears regarding the payment of taxes, and a problem that may arise from this legal activity in our company, is tax evasion. What is tax evasion? In a few words and to be understood, tax evasion is committed when a company or business owner tries to hide part of the income from its services in order to pay less taxes. We must be clear that this activity is illegal and has legal consequences that have repercussions on our company.

Examples of tax evasion.

Tax evasion does not only include paying less money for our income. When we hide our assets it also constitutes a valid example of tax evasion, by not declaring in a legal way the existence of our properties. The most common way would be to manipulate our salary earnings, showing them as lower than the real ones. Another way is to increase the figures of our personal expenses deliberately, and assume them as if they were business expenses. Taxes are also evaded when we benefit from subsidies or donations without complying with the legal requirements that duly justify their existence.

Consequences of tax evasion.

All our actions in the business sphere have long or short term consequences. The repercussion of tax evasion falls largely on the state, mainly affecting public services and the resources available to it. It generates situations of confrontation between companies that pay their taxes and others that evade them unscrupulously. The main consequence of tax evasion affects us as a business and our image as entrepreneurs, it is a fatal cause of deterioration of the prestige of our company.

Problems to pay.

Sometimes tax evasion is often confused with late payments due to organizational problems whose solution has been beyond our business scope. When we find ourselves in this situation it is necessary to seek specialized help from registered agents, lawyers or certified public accountants. Only these qualified personnel will be able to help us solve the problem. A first step is to be clear about what we have to pay such as bills, additional interest or penalties. This can help us decide if we need a time agreement to pay.

Avoiding taxes legally.

It is clear that we must pay our taxes on our income and business profits, but how can we reduce them? By planning fiscally so that we pay a