This paper presents the system of profit taxation in the Republic of Croatia and the impact of the profit tax on the state budget revenues. Considering that in profit taxation there is a strong possibility of tax planning, the difference between tax planning as the expected behavior of taxpayers and unexpected, aggressive tax planning is also explained. The paper presents the observed accessible mechanisms of regulations, accounting standards, specific financial instruments or entities, which corporate taxpayers, depending on their intentions, can use for planning their tax liability. Globalization, the development of information technology and digitization, the emergence of multinational companies, the existence of developed international legal norms, have had a significant impact on the development of tax planning, from the expected and acceptable to aggressive tax planning, with the unexpected result of shifting of profits from the area where they are generated to the area with a more favorable taxation regime. The problem of profit shifting is a global problem, and this paper outlines the measures proposed by the OECD, with the support of the G20 and the European Commission, to prevent aggressive tax planning and profit shifting, known as the BEPS measures, and in particular the measures that the European Commission has already adopted. In this paper, banks are distinguished as a specific, numerically small, category of corporate taxpayers. An analysis of tax liabilities of banks operating on the Croatian territory in the period from 2007 to 2016 is performed, from which it can be seen that banks participate significantly in the overall tax liability. Certain available tax planning mechanisms that are more tailored to the banking system than to other corporate taxpayers are also presented.