Meeting tax obligations is very important. As a young entrepreneur, it is important because:
- It helps the government create a good business atmosphere for business to thrive.
- It authenticates the business.
- It grants the entrepreneur the opportunity to enjoy government grants and other business benefits initiated by the government.
- It helps to generate revenue for the government which they use to build basic amenities for all.
What is tax obligation?
Tax obligation is known to be evidence of indebtedness that are payable by a taxable individual or entity as part of the credible obligation.
Taxes are known to be mandatory contributions that are actually levied on individuals or corporations by a government entity. They help the government generate revenues.
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