Hello people! We have had the business idea of the century. We are sure we are going to make a very nice profit on a long term basis! It will even be sustainable! But a friends of mine already budgetted for business tax in the first years. Is this correct? I don't believe so, but would like your advice.
You don't say where in the world you are based, but in my part of the world this sure does not apply. I suggest you consult your friendly business lawyer. Or at a pinch - an accountant. They will be able to tell you whether you are liable to pay business tax on a starting business. If not, for how many years or to what level of profit you may qualify for the tax holiday.
