Every country has tax as a source of revenue, which should be paid by every citizen so that the respective government can fulfill its duties and work accordingly. Every citizen pays tax according to his or her income source and amount. There are provisions out there issued by every government which leads to reduction of taxes in case of exceptional circumstances. But, still people all over the world have found out ways for tax avoidance, which is an unacceptable thing. Tax helps the true rights and benefits to reach the common mass; however avoiding tax payment is like making yourself devoid of all these benefits.
Avoiding paying the rightful tax is something that can cause you penalties. You would be more willing to pay the right amount of tax you owe to the government, if you go through following notable points:
- Paying tax is not a burden
Tax is not an external burden on you, but instead it is an obligation rather a duty that you must follow willingly. There have been cases out there when many richer and the bigger firms have avoided tax payment and all of this have come out in an adverse unexpected fashion. Ultimately, this not only led to heavy payment of penalties but also led to closing down of such firms, which led the owners to go into heavy losses. If you would take paying tax is a burden, you will always look for refuge which can take you into the darker zone.
- A duty to pay back
No matter if you run any organization at your town or a large scale business, you have some duty towards the country you reside in. You have a part devoted of your income to this country because you use the resources government provides you. In order to keep the healthy flow of your business going, you should not avoid paying taxes as it can turn your income into a total negative aspect. As you have duty towards your family, similarly paying tax is a duty towards your country.
- You drown yourself into bigger problems
Avoiding paying taxes can take you into a bigger penalty section which can even turn out that you have to pay additional costs in case the government finds out. This would not only cause a monetary difficult but can also defame you. If any certain issues arise in the courts you are also liable to pay for the lawyer as well as the overhead caused in all such cases. In spite of paying all these penalties, every citizen must consider this as his rightful duty to pay the entire valid tax amount within time.
Keeping in mind all the penalties or the adverse effects you can go through, one must never adopt for tax avoidance illegally as it would only worsen the situation and instead of saving your valuable resources, chances persist that you will drown all these resources forever. Paying taxes on time would also make your firm a recognized one in the area.