Business entities, even at the stage of formulating a business plan, perform an approximate analysis of costs and revenues, as well as examine ways to reduce tax liabilities in order to obtain greater profits. There is always a risk at all stages of activity of business entities, regardless of the sphere of their functioning. The difference may lie only in its degree in this case. Risk is generated by objective existing uncertainty, conflict, lack of information at the time of evaluation, management decision-making, ambiguity of forecasts, changes in the environment and in the system itself, evolution and transformation processes, lack of time for scientific substantiation of economic and financial values and support for appropriate decision-making. The enterprise, working in the dynamic external environment, faces a large number of economic, financial, tax and other types of risks, generating threats to its stable functioning and development. The optimization of its tax security is one of the main directions of increasing the level of economic security of the enterprise. It consists in identifying and analyzing all possible tax risks and reducing the negative impact on economic activity. The latter necessitates the formation and implementation of a balanced tax policy of the enterprise, which plays one of the key positions in the management system. So that changes in external factors would not significantly affect the economic activities of the enterprise. Appearance of modern methods of tax risks reduction is connected with changes in trends in taxation, taxpayers' behavior, increase of tax culture etc. The article outlines the directions of tax risks minimization as an element of tax policy of business entities. In our opinion, it is advisable: to calculate the tax burden on the financial condition of enterprises; to identify and assess tax risks using the map, matrix and table ranking of tax risks; to analyze carefully the contracts and make the source documents, which has a direct impact on the tax consequences.