Tax Planning for Internet of Things Redefines Business Strategies
The article discusses how companies can plan for taxes when dealing with new technologies like the Internet of Things. By using a method called tax business planning, companies can manage tax risks effectively. This approach helps in choosing the right tax strategies for new products and services that may not have specific tax laws yet. Instead of focusing on existing tax laws, companies should focus on managing tax risks in a changing world. This method can help in making better tax decisions for the Internet of Things.