Question

Write two paragraphs on Taxes and Entrepreneurship...

Having lower taxes on entrepreneurs means more job creations.

tax reform to combine individual tax reformwith corporate tax reform

Answer 1

Answer:-

A tax is a kind of fee charged by the Government of a country on the services, income, goods,export imports ,etc. Tax system varies from country to country. The tax collected by government is the source of revenue for the government. Government utilize this revenue for the defence, education, infrastructure and health care of the country. Taxes falls under the various categories like direct tax,indirect tax. Direct tax is levy on the income/salary, dividend, capital gains from investment of a person.For example, Income tax, Wealth tax. Indirect tax is levy on the prices of goods and services, for example, Value added tax, goods & services tax (GST), Custom duty, Excise duty,etc. There are some common types of taxes which falls under the category of direct tax and indirect tax like wealth tax, income tax ,sales tax, corporate tax,property tax,estate tax etc.

ENTREPRENEURSHIP

Entrepreneurship is a process in which an individual starts one's own business with limited resources. The individual who runs the business is called an Entrepreneur. The business start by an entrepreneur carries a new product or service which is not existing in market.An entrepreneur creates opportunities of employment.Entrepreneurship is an activity which is purposeful and organize the resources and production in a systematic manner so there can be delivery of value to the customers,a good return to investors and maximum profits for the business to avoid risks and uncertainties.It has a lawful objective.It is a innovative and creative process.If there is lack of entrepreneurship,resources will remain resources, they won't create any matter.

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