Paying taxes has a lot of benefits especially to the government and the people. A country cannot operate well without the government. In this case government gets money from paying taxes. Taxation provides most of the money that is used in development and interest of the people. The government cannot operate smoothly without money. Paying of taxes helps the government make good plans. It’s through taxation that the government gets to pay the civil servants and also foreign debts. In this case taxes are able to fund the military and the security forces as well. This will enhance safety of your country. Government expenses like construction of roads will need a lot of money to be catered for.
Taxation can help your business not be taxed high. For example you can deduct your loss if your business is not making money or when your business is making less money. This benefits a lot a new business. When you provide a receipt book of the sold items you will protect your business from high tax. You may have a big business and make low income. This happens in most cases if a business is new. In this case your business will grow at its own rate. You will not have to close your business due to losses. Your business will be taxed according to your income, so you will do your business without the fear of tax.
Business taxes help promote economic and social equality in the society. For instance wealthy tax payers pay different tax with the middle class people who rely on the government for help. When wealthy tax payers pay taxes, they help pay for the programs that help the citizens with lower incomes. The middle class citizens also benefit from this programs. This brings people together and promotes unity. Inthis case people who are not financially stable get a lot of help from this program. Infants and parents get a lot of advantages from free programs in public hospitals. When children are given vaccine the risk of contracting diseases becomes minimal
There are taxes that applies only to specific products. This can help in discouraging consumption. For instance cigarettes and alcohol have higher taxes. This will discourage users and help moderate consumption. In this case this is very important to human health. When cigarette is taken in moderation it will help conserve the environment. In this case you will reduce the risk of lung diseases. In this case it will promote community health. Staying healthy will help you save the money you could use in hospital bills. In this case good health helps in economic growth. In this case premature deaths will decrease because of the good health. This are some of the benefits you will get to enjoy from business taxing.