Last updated on December 5th, 2023 at 07:28 am
Your Startup Can Grow With Tax Planning Training
With a new unicorn getting listed in the country almost every day, many young professionals have become inspired to turn entrepreneurs. India has a favorable startup ecosystem with a lot of support from the investing community. However, for a healthy growth trajectory, it’s important to have a well-laid-out financial plan. When it comes to financial planning, a very critical aspect is the tax planning of the business. Entrepreneurs with a banking and finance career past may find it easy to manage these aspects, but others might need to undergo tax planning training.
Aspects of tax planning
New-age entrepreneurs have to keep in mind a lot of factors while planning their taxes. Some of these are listed below:
Business structure: Most startups nowadays aspire to have business centers in global marketplaces. It is critical to structure the business in accordance with taxation laws relating to party transactions, cross-border activities, avoiding double taxation, obtaining advantageous tax rates, etc. For cross-border activities, a KYC and AML certification comes in handy.
Cash flow: There are several strategies to organize your transactions to manage taxes effectively. Incorrect accounting and transaction planning lead to higher taxes being paid and may also result in cash accounts being depleted by the time the tax payments are due. On the other hand, an excellent tax strategy will anticipate your future tax requirements, so that you have financial reserves to pay taxes on time.
Fines and court cases: Tax preparation is essential since it is the first line of defense against tax-related lawsuit claims. It will assist you in streamlining the present tax status and keeping everything in compliance with tax rules. As a result, the startup's compliance rating improves.
Funding: Investors always prefer a tax-compliant and healthy startup. Therefore, tax planning is beneficial as it brings in investment. A KYC and AML certification can help you in money laundering checks.
Useful insights on startup tax planning
As an entrepreneur, one aspires to both generate value, as well as revenue. To do this, you can plan:
– Strategies to cut capital gains tax, reduce future estate tax, and boost asset protection from creditors and litigation.
– A strategic approach to reducing your exposure, which will, in turn, be cost-effective.
– Shareholding patterns to enhance tax efficiency.
Tax planning training courses
The courses given below can help you manage the different factors of financial planning:
FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)
This course helps you understand significant aspects such as how to implement FATCA correctly and efficiently, what are the FATCA obligations for non-US institutions, etc.
REGULATORY (CROSS GEOGRAPHICAL) REPORTING
This course entails various regulatory reporting requirements. It can help you understand the various reporting requirements when dealing with stock exchanges of different countries and the norms set forth by the respective regulators.
ANTI-MONEY LAUNDERING
One of the most important compliance requirements for businesses is anti-money laundering. This course helps you understand and identify:
- Money laundering techniques/indicators and how AML fits into financial institutions' compliance universe.
- The role of technology as an enabler in AML.
- The challenges presented by rapid-scale digitization
REGULATION AND COMPLIANCE
This course covers:
- Financial reporting fundamentals IFRS, fundamental principles, and revenue recognition 1, 7, 12, 16, 17, 24, 36, 38, and 39
- International accounting standards
- An overview of US GAAP
Imarticus Learning is a technology-driven training institute with extensive experience in altering professions in finance, analytics and artificial intelligence, business analysis, and core technology. Our tax planning training courses have been curated keeping in mind your professional growth opportunities. These programs will help you reach the pinnacle of your aspired career. We have centers in many cities around the country, including Mumbai, Pune, Chennai, Bengaluru, Delhi, Gurugram. You can also connect with us over chat support.
