Tax Planning as an Element of Enterprise Business Strategy and its Relationship with IFRS

Abstract

In the contemporary economic environment characterized by macroeconomic instability, digital transformation, and frequent changes in tax legislation, the role of tax planning in enterprise management is significantly increasing. Tax planning is no longer limited to the technical calculation of tax liabilities; it has evolved into a strategic component of business strategy and corporate financial management. Its importance is further strengthened by the implementation of International Financial Reporting Standards (IFRS), which differ from tax accounting in the logic of determining financial results. This article examines tax planning as an element of enterprise business strategy and its integration with IFRS, particularly IAS 12 “Income Taxes”. The study substantiates that tax planning ensures coordination between financial, investment, and accounting policies, influencing liquidity, profitability, and long-term competitiveness of enterprises. According to OECD data, tax policy and the efficiency of tax administration directly affect economic growth, investment activity, and financial stability. The research shows that tax planning performs several strategic functions: optimization of cash flows, support of investment decisions, risk management, and enhancement of competitive advantages. A key element of integration with IFRS is the concept of temporary differences, which generate deferred tax assets and liabilities. These differences allow enterprises to manage the timing of tax payments and improve financial planning efficiency. Special attention is given to aggressive tax planning and the OECD BEPS initiative, which aims to prevent base erosion and profit shifting. As a result, enterprises are increasingly shifting toward transparent and compliance-oriented tax strategies. The study also highlights the growing role of digital technologies in tax planning, including ERP systems and tax analytics tools. Tax planning is an integral part of enterprise business strategy, ensuring alignment between tax obligations and IFRS requirements. Its integration with IAS 12 contributes to financial stability, risk reduction, and long-term competitiveness of enterprises.