Tax Management is the process of managing taxation obligations to ensure compliance with statutory requirements, optimize cash flow, and support the financial objectives of a business. It involves understanding and administering taxes across multiple jurisdictions in order to identify opportunities for saving on tax payments, while still adhering to relevant regulations. Tax Management requires skillful analysis and planning, as well as coordination across different departments. A successful tax management plan should take into account current economic conditions, tax law changes, and best practices of similar organizations. With careful planning, businesses can optimize their taxable income, protect assets from potential risks, and drive profitable operations.