The rule of law is internationally recognized as a foundational element in guaranteeing peace, justice, human rights, effective democracy, and sustainable development. Around the world, however, the rule of law continues to weaken. This 2023 edition of the World Justice Project (WJP) Rule of Law Index shows that over 6 billion people now live in countries where the rule of law is declining. Amid widespread institutional stagnation, a majority of countries continue to experience rule of law backsliding characterized by executive overreach, diminished human rights, and justice systems that are failing to meet people’s needs.

You aspire to a successful career?
Make sure to understand Tax

👉 Let me help you with my framework:
Timely compliance
Appropriate deductions
Xpert consultation
Entity structure
Strategic planning

Here is how it articulates (feel free to bookmark it for yourself):

T – Timely Compliance:
Timely tax filing and payment can avoid penalties and interest
– Develop a tax calendar to track deadlines
– Prepare and file tax returns promptly
– Ensure timely payment of tax liabilities

A – Appropriate Deductions:
Claiming all appropriate deductions can reduce tax liability
– Identify all potential tax deductions
– Maintain proper documentation for deductions
– Claim all applicable deductions in tax returns

X – eXpert Consultation:
Professional advice can result in significant tax savings
– Engage a tax consultant for complex issues
– Implement advice on tax planning strategies
– Keep up to date with tax law changes via expert guidance

E – Entity Structure:
The right business entity can optimize tax obligations
– Evaluate tax implications of different business structures
– Consult with a tax advisor to choose the right entity
– Review and update entity structure as needed

S – Strategic Planning:
Proactive tax planning can optimize tax efficiency
– Develop a strategic tax plan
– Implement tax-efficient investment strategies
– Monitor changes in tax laws and adjust the plan as needed

Source: Nicolas Boucher, LinkedIn
www.nicolasboucher.online