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[AudraMiller]

Of course when it comes to the legal requirements of any country, your businesses are required to pay taxes and this will generally be in the form of a percentage of their profit. However when it comes to new businesses do you think that it should be mandatory that they should pay taxes considering the fact that they are still starting off and as a result this deduction in their profit could greatly impact the successfulness of the business in the future. I know that there are some countries that actually do not tax small businesses in the start of the operation. What is the stance that your country has on this?

 

[ELSA-ELI]

My country has one of the ridiculous law on tax for a new investor in industries like telecom, mining, agriculture and food processing to mention but a few where you have to be waved off tax for five years as you are more or less in a prospectus period. We had a situation where Verdenta an Indian Company was boosting of making millions of dollars in one of the mines they had bought in Zambia on the international Expo. Thank goodness they were captured and their head was deported as on the local scene they were complaining that the company was not doing well.

But its obvious for certain tax a business has to pay such as subscription to carbon emissions and all licensure tax.

 

[Razor1911]

For any business, you have to comply with the laws and regulations of the country and paying taxes comes under this. Obviously it's criminal not to disclose your earning to the income department. There arw certain criteria for filing tax and sometimes you will get refund too if you get any rebate.

 

[AudraMiller]

My country has one of the ridiculous law on tax for a new investor in industries like telecom, mining, agriculture and food processing to mention but a few where you have to be waved off tax for five years as you are more or less in a prospectus period. We had a situation where Verdenta an Indian Company was boosting of making millions of dollars in one of the mines they had bought in Zambia on the international Expo. Thank goodness they were captured and their head was deported as on the local scene they were complaining that the company was not doing well.

But its obvious for certain tax a business has to pay such as subscription to carbon emissions and all licensure tax.

These taxes are a must and it makes sense. I know that when it comes to taxes like carbon emissions, these will be dependent rather on the amount of carbon you are emitting. I think there is a maximum that you can emit without being charged tax and all emissions from that point onward are taxed.

 

[ELSA-ELI]

So in theory a company should not pay tax when it is just starting as it is not generating revenue hence should be waved off tax provided the country legislature ensure the interests of the country comes first?

 

[Wisdom01]

In my country it doesn't concern the government if its a new business or not ,they have made it compulsory for all business to pay tax

 

[achawaskey]

Although I don't really know if do tax new business, but I think they are taxed through registrations and purchases of yearly stickers. At times the tax are added to the product as Value Added Tax.

 

[HMMY1]

Although I don't really know if do tax new business, but I think they are taxed through registrations and purchases of yearly stickers. At times the tax are added to the product as Value Added Tax.

Of course when you start a new business,Because according to the law it is necessary to register your business And that's why you have to pay tax In this way, a large part of your profit goes to tax.

 

[LutherKing]

Every business is taxed in form of sales tax and federal excise duty which sums upto 30% tax for the businesses so yes every business pays tax

 

[Razor1911]

Not every businees is taxed. There are many businesses which are exepted from tax. It depends upon the law of the land, but many countries provide rebates for some business to encourage the growth of the business.

Every business is taxed in form of sales tax and federal excise duty which sums upto 30% tax for the businesses so yes every business pays tax

 

[Wisdom01]

Although I don't really know if do tax new business, but I think they are taxed through registrations and purchases of yearly stickers. At times the tax are added to the product as Value Added Tax.

I think the value added tax is been added to the product and not the business exactly ,because once the product are taxed it inceases the price of the product

 

[Razor1911]

I think the value added tax is been added to the product and not the business exactly ,because once the product are taxed it inceases the price of the product

The tax you are telling is different. When you buy a product the tax is always included. It is the tax that the company paid while manufacturing the product to govt. It is called indirect tax. And What you will pay is from the profit you earn. That is a direct tax.

 

[anil02]

Of course when it comes to the legal requirements of any country, your businesses are required to pay taxes and this will generally be in the form of a percentage of their profit. However when it comes to new businesses do you think that it should be mandatory that they should pay taxes considering the fact that they are still starting off and as a result this deduction in their profit could greatly impact the successfulness of the business in the future. I know that there are some countries that actually do not tax small businesses in the start of the operation. What is the stance that your country has on this?

In India we have to pay taxes on trading and also on earning. Here some Industry can get rebeate in paying indirect taxes. Here in some state have tax free zones but it is only for manufacturing business.

 

[AudraMiller]

In India we have to pay taxes on trading and also on earning. Here some Industry can get rebeate in paying indirect taxes. Here in some state have tax free zones but it is only for manufacturing business.

Why would the manufacturing businesses be within a tax free zone? This makes no sense to me, and the reason that i am saying this is that large businesses like this would often be a major income source for governments in terms of their taxes.

 

[anil02]

Why would the manufacturing businesses be within a tax free zone? This makes no sense to me, and the reason that i am saying this is that large businesses like this would often be a major income source for governments in terms of their taxes.

It is too promote industrialisation in some area. In India Himachal Pradesh is state, where if some one start industry they will get many rebates. Before few day India government announce that if some install manufacturing unit of semi-conductor government will give 70 million $ cash incentive

 

[Razor1911]

Why would the manufacturing businesses be within a tax free zone? This makes no sense to me, and the reason that i am saying this is that large businesses like this would often be a major income source for governments in terms of their taxes.

Actually that depends on the product of the business. Some products are exempted from paying tax. Though the companies still have to pay indirect tax while purchasing the raw materials, only the consumer will get benefit from such rebates and exemption.

 

[Ofonime]

Actually that depends on the product of the business. Some products are exempted from paying tax. Though the companies still have to pay indirect tax while purchasing the raw materials, only the consumer will get benefit from such rebates and exemption.

Yes I agree with you that its all depend on the product and services the firm offer,and you need to consider the goverment policy of your country,if you own a big firm be ready to pay tax the goverment uses those money to develop your country

 

[AudraMiller]

Actually that depends on the product of the business. Some products are exempted from paying tax. Though the companies still have to pay indirect tax while purchasing the raw materials, only the consumer will get benefit from such rebates and exemption.

For products that are tax free to teh consumer, i think that a provision should be made for the manufacturers in order to try and make the raw materials tax free as well, other it is cutting into their profit a lot or they are charging large prices for the products because of the tax they are already paying.

 

[Razor1911]

For products that are tax free to teh consumer, i think that a provision should be made for the manufacturers in order to try and make the raw materials tax free as well, other it is cutting into their profit a lot or they are charging large prices for the products because of the tax they are already paying.

That is not possible. It is because the companies deals with large amount of raw materials. Hence, if they exempt raw material from tax, that will eventually lower the revenue of the govt. Tax free is hypothetical, better govt should give rebate to make the producers happy.

 

[AudraMiller]

That is not possible. It is because the companies deals with large amount of raw materials. Hence, if they exempt raw material from tax, that will eventually lower the revenue of the govt. Tax free is hypothetical, better govt should give rebate to make the producers happy.

I get what you are saying at it will have a massive hit on the government revenue from these taxes. I think that despite the consumer not paying taxes for such products, teh tax paid for by the manufacturer is worked into teh sales potential in order for them to ensure that they still make a profit.