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Do tax affect business negatively or positively?
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[QUOTE="Deleted member 51169, post: 159327"] In managing a business there many factors that possess as threat to their existence. One of such factors is [B]TAX. [/B]Tax in most third world countries are used as instrument against perceived government enemies, while waivers are given to allies. Firstly, according to Investopedia "Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional or national". It has been argued that it is basically a source of revenue, which governments uses to aid development. Before we delve into how it could mar a business venture, let's take a look at the different types of Taxes we have: There are two types of taxes namely, [B]direct taxes and indirect taxes[/B]. ... You pay some of them directly, like the cringed income tax, corporate tax, and wealth tax etc while you pay some of the taxes indirectly, like sales tax, service tax, and value added tax etc.(policybazar 2019). As posited in the topic, what is your taken on taxes? Should tax be discontinued especially for embryo business and low income earners? With the rate of embezzlement and looting by public officials and its use as weapon, should tax not be abrogated? PS: Tax should be waived for any business that has not reach minimum threshold of $100,000.00 [/QUOTE]
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