Effect of tax evade on business.

[hastral45]

It is a common practice to most business owners to always looking for ways to pay their taxes levied on them. They do this by conniving with government tax officials by bribing them.
This practice is bad because, anywhere such is doing, there won't be developments in that country. These taxes are not pocketed by the government for their personal use, rather it is used to finance capital projects in the country.
Therefore, everybody including both individuals and businesses should pay their right taxes in time.

 

[Shortie]

Agreed. It is amazing how many businesses and people who are in business will do what they can to try and evade their taxes not realizing that it will eventually affect the Country and not the people to who you are paying the taxes. I do feel that more needs to be done to ensure that those who do tax evade are caught and dealt with so that it doesn't leave such big problems for the country in the long run.

 

[uptrendfinancialsignal]

It is not good to be big trucks because it is very dangerous and it is unlawful as well.

 

[enehemie]

I say while evading tax allow businessman to keep most of their earning its a bad thing cause it can brink them into trouble with goverment and law enforcer. So Its better to pay tax overral even if in some case the money are detourned by corrupt government.

 

[Springtime]

Evading tax is a legal offence here. Bribing officials is also a serious crime. What most companies do here is not to evade tax but to think of legal ways to minimize their tax. They usually hire consultants to give them advice on this matter.

 

[Shavkat]

We had a family business before. The family decided to close it down because of tax. The clients cannot afford the high prices of items due to this tax being imposed by the local government.

 

[hastral45]

We had a family business before. The family decided to close it down because of tax. The clients cannot afford the high prices of items due to this tax being imposed by the local government.

That is the problem with the government officials. Taxes should not be fixed in nature but pay as you earn. Tax should be imposed when a business makes profit. In some situations, baby companies are given tax holidays for them to develop well before they would be charged. Like in my country, many businesses had to closed down because of the adverse impact of the taxes.

 

[deucher]

Tax evasion can have serious negative consequences for a company, including fines, legal action, reputational damage, and loss of investor confidence.

 

[eldavis]

If you have the money why not just pay them than bribing them. I have seen cases where in the end most of them are arrested. It would be better not to spoil your image.

 

[Shavkat]

That is the problem with the government officials. Taxes should not be fixed in nature but pay as you earn. Tax should be imposed when a business makes profit. In some situations, baby companies are given tax holidays for them to develop well before they would be charged. Like in my country, many businesses had to closed down because of the adverse impact of the taxes.

Indeed. Some local officials are so into this. The worst thing is that they are using people's money from the funds of taxes. They seem to be true in imposing the increase rate of the taxes.

 

[IB D]

This is a kind of unwholesome business practice that can spoil your reputation and even lead to the government closing your business. Instead of evading tax, find a way to negotiate it if it is too much.

 

[Abdul01]

It is a common practice to most business owners to always looking for ways to pay their taxes levied on them. They do this by conniving with government tax officials by bribing them.
This practice is bad because, anywhere such is doing, there won't be developments in that country. These taxes are not pocketed by the government for their personal use, rather it is used to finance capital projects in the country.
Therefore, everybody including both individuals and businesses should pay their right taxes in time.

Evading tax payment is not a good thing at all in fact it is an offence punishable by law, apart from this it also gives the company bad reputation to be seen evading tax which won't contribute to the growth of the company and may cause customer loss.

 

[timewo]

Most online businesses have very low revenues due to lack of orders, especially if the business owner is working at home. So though some government employees running an extortion racket are making fake allegations, the business is not taxable.

 

[Passiveearner]

When businesses fail to pay taxes, the economic structure may suffer a lot. This also results in government not being able to spend money as they never generate revenues in the first place.