Benefits You Get From Business Taxes
There are so many advantages of paying taxes especially to the government and the people. In this case no country can operate smoothly without the help of a government. In this case government gets money from paying taxes. Taxation provides most of the money that is used in development and interest of the people. It will be very difficult for government to operate without money. When we pay taxes the government is able to make good plans. It’s through taxation that the government gets to pay the civil servants and also foreign debts. The taxes businesses pay are able to fund the military and security forces too. This keeps a country safe. The government needs a lot of money to cater for so many expenses like road construction.
Taxation can protect your business from high tax. In this case you can deduct your loss if your business is making little money or not making money at all. A new business is able to enjoy that benefit. When you provide a receipt book of the sold items you will protect your business from high tax. In this case you may have a big business and still make little income. This happens in most cases if a business is new. This will help your business grow at its own rate. Losses won’t keep you at a risk of closing down your business. You will do your business without the fear of high taxation because your business will be taxed according to the income.
Business taxes help in promoting social and economic equality in the society. For example people who get the help from the government don’t pay equal tax with wealthy tax payers. In this case wealthy tax payers taxes help in funding programs that help lower income citizens. The program is also important to the middle class citizens. People come together hence promoting unity. People who are not financially stable benefit a lot from this program. Infants and parents benefit a lot from free programs in public hospitals. In this case free vaccines offered help reduce diseases in children.
Some taxes only applies to some specific products. This can help in discouraging consumption. For example cigarettes and alcohol have high taxes. This will discourage users and help moderate consumption. In this case this is very important to human health. In this case it will help in environmental conservation when cigarette will be taken in moderation. In this case you will reduce the risk of lung diseases. This will lead to a healthy community. When you stay healthy you will not spend much money in hospital bills. In this case good health helps in economic growth. In this case premature deaths will decrease because of the good health. Business taxing will give you the above benfits.