Small business is free of tax

[Folaham]

Unless you need an official receipt in selling your merchandise there is no need to pay taxes for a small business. This is applicable to home based business where the place of business is not rented. Small items such as food stuff, clothing and personal accessories do not need to register with the government agency because it is considered an informal business - temporary in nature and dealing with small transactions only. This is a good incentive for entrepreneurs who need to gain experience in selling.

Using home space to sell off stuff will not attract tax but the moment a shop space is opened, the local government revenue collector will start coming to demand for various payments.
I have witnessed in Kaduna state where shops were locked and shop owners asked to report to local government for clearance and payment of tax they claim the shop owners are owing

 

[Ogbest]

No business is free from taxes been it a small scale business or large business, they are mandated to pay taxes, you must always pay your taxes as a business owner, it is your legal duty as a citizen of a particular country

Exactly what I have ever wanted to say, no business, no matter how small it is is free of tax. But left for me, I will say it will be a good idea to allow small business not to be involved in anything tax

 

[iCesarkevin]

Small business owners are encouraged to register with the Bureau of Internal Revenue (BIR) not because the government merely wants to collect taxes but for them to be accounted for and be included in its programs for the sector

 

[singlej007]

Not in my country, small business is not free of task in my country, even if you are doing business without shop or without any roof on your head you must pay tax, even when I was doing mini importation I pay tax on my goods.

 

[Bilal0087]

Unless you need an official receipt in selling your merchandise there is no need to pay taxes for a small business. This is applicable to home based business where the place of business is not rented. Small items such as food stuff, clothing and personal accessories do not need to register with the government agency because it is considered an informal business - temporary in nature and dealing with small transactions only. This is a good incentive for entrepreneurs who need to gain experience in selling.

Here in my country Pakistan, there are thousands of small scale home based businesses which are deprived of tax because they are unable to pay taxes by their earnings, while all the heavy and big Business have to pay tax for the development of country.

 

[tyrim88]

small business does not need to pay tax,especially when the tounover is very small.The type of structure depend on where the individual is operating from,if its from home then no tax is required,except when you want to go in for a formal busness transaction,that is when some official verification would be required,else taxation is not required.But if an outlet has been created and the busness runs from such location,then the authorities would have you come for documentation and formalisation and when these process hes been concluded,you would find out that you have paid in your tax.

 

[iori23]

It also depends on the size of the business and the number of employees, the tax will be based on it, but if you are the only one, maybe it is free tax, it also depends on the country of your government. but it is better to just let your government know so that you will not be overlooked.

 

[Adesuwa]

Small business ia a free of tax due to the fact that they face to much stress like the retailer and others because they don't buy goods in buck it just small goods they do buy.
so due to that it's free of tax.

 

[Bholozy]

No business is free from tax it's just the difference in the amount paid by the big companies and small businesses. Although some countries make laws to protect the small and medium enterprises and this law help to reduce their task drastically so it can aid their survival

 

[Caali]

Most small businesses do not pay taxes at all and those that do, pay a relatively small percentage of their gross income as tax. But I can understand the point that even small percentages of small dollars can seem large when compared to much larger companies.

 

[Veetos12]

Unless you need an official receipt in selling your merchandise there is no need to pay taxes for a small business. This is applicable to home based business where the place of business is not rented. Small items such as food stuff, clothing and personal accessories do not need to register with the government agency because it is considered an informal business - temporary in nature and dealing with small transactions only. This is a good incentive for entrepreneurs who need to gain experience in selling.

If your business has employees, you’ll be responsible for paying state employment taxes. These vary by state, but often include workers’ compensation insurance, unemployment insurance taxes, and temporary disability insurance.

 

[Nurudeen]

Maybe I should say it's based on each though. In my own country registering for small business isn't that necessary but it's very important if you think you need to get government grant to expand your business. Because nobody will give you loan or grant if you don't have corporate affairs commission certificate as a business owner whether big or small business in my country

 

[WhiteHouse]

It depends what "small" means and also which country you are. If you are shipping your products from overseas, tax will still affect you when you are clearing your goods. So one way or other you are still been taxed.

 

[EMMANUEL]

No they as well pay tax, sales tax. If you sell goods and services and you are based in a state with a sales tax, you may be required to collect sales taxes on your transactions. While the customers pay the sales taxes, you can be subject to penalties for failing to collect the taxes and pay them to the state.

 

[Hasan Raza]

Truly, you are correct private ventures are excluded from charge paying. As far that private company doesn't perceive by government Because they don't enrolled to under an administration, that is the reason they liberated from charge installment in my country

 

[Ibrahim1]

As for me yes small business are really free from tax and it's because they didn't register there business but the moment they registered you can't escape the tax because they will demand for the tax and they don't even care about maybe you having sales on it or not in my country

 

[Usman Sattar]

Taxes can be stressful for a small business owner. You likely wear many hats, and the last thing you want to do is give more of your hard-earned business income to the government. Thankfully, there are many tax savings strategies to reduce your taxable liability as a business owner. If you need ways to reduce your taxable income this year, consider some of the following methods below.

 

[Spicywilfred]

If you are running a home base business. Or rather online business there's no need to pay for taxes, taxes is normally paid by shop owners most of the time

 

[Victor001]

Well its still right to still register your small business, government loans or funds see this as an important requirement, sometimes the need for expansion.

 

[Setho]

Everybody in a country benefits from the projects that are being realized as a result of paid taxes and as such they should be paid. The only difference is that this particular set of people should not be taxed in a high amount that would make their business to crumble.