Proposed tax unfair to loss-making businesses

What you need to know:

  • As we have argued before, it’s unfair to penalise businesses that make losses.
  • Such taxation ends up hurting businesses and makes ours a hostile environment for trading.

The High Court ruling declaring the proposed “minimum tax” illegal is a major relief for loss-making businesses that risked suffering double jeopardy in case the levy was implemented. On paper, the policy sought to eliminate tax cheating, given that some businesses have learnt tricks of reporting perennial losses, hence avoid paying levies.

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