As business owners, it is important you know the tax laws of your country and abide by them. Apart from what you stand to gain by complying with the tax laws, there are fines that can be imposed on your business for defaulting in taxes. Value Added Tax (VAT), is what consumers pay to the government on any bought taxable product or service. Taxes should be taken seriously so it doesn’t come back to bite you in the face. I know it can be challenging giving the government a huge chunk of the profit your business makes but taxes are bitter pills everyone must swallow.

Source: The Guardian March 05, 2018 04:07 UTC