Taxes are compulsory monetary remittances to state revenue , levied by the government on workers ’ income and business profits, or added to the cost of some goods , services , and transactions . As business owners, it is important you know the tax laws of your country and abide by them . There are so many reasons you should endeavour to pay your taxes :
You would be in good books with the government ; you can bid for government contracts and grants . Also, potential investors and financial institutions such as banks , want to see that you are disciplined enough to be invested in . What else would connote discipline than to pay out a substantial amount of your business profits to the government you complain about , eh ?