planification PONS
Tax planning often has the purpose – and effect – of reducing the company's taxable income. Also, in countries where there is a "disconnect" between accounting and taxation, such as the United States, planning can lead to the appearance of a significant gap between taxable income and accounting profit, likely to be perceived by financial partners of the company as signaling weak performance.planification fiscale Unlike France, where a connection between accounting and taxation prevails, some States have chosen to distinguish between the rules for determining taxable income and accounting income. The United States is, without doubt, the country where this logic is most advanced – since accounting was born from stock market law, it has remained distant from tax law. Such a "disconnection" now seems to be engraved in the American legal system, the Supreme Court having confirmed it in a decision Thor Power Tool v. commissionerof 1979, based on the differences in purpose of tax and accounting rules. According to the jurisdiction, the accounting rules aim to “protect” management, shareholders, creditors and other interested parties by providing them with useful financial information, which justifies a prudent evaluation of the firm's profits; tax standards, on the other hand, aim to allow fair collection of tax revenue, incompatible with a possible “underestimation” of income. Under these conditions, tax and accounting rules cannot be confused. Consequently, the taxable income can deviate significantly from the accounting result – especially since the standards governing their establishment present significant differences. 17Initially criticized by managers and accountants because of the management costs it caused, the “disconnection” between accounting and taxation now seems accepted, even defended by them; also Desai (2005) judges that in view of the cost resulting from such a "disconnection" for the company, this evolution reveals that managers have probably come to appreciate the opportunity left to them to present their profits in two different ways to capital markets and tax authorities.