Maru says high taxes killing small businesses

 HIGH taxes are indirectly killing small entrepreneurs.

Because of this, Trade and Commerce Minister Richard Maru urged the tax review committee to help the grassroots by lessening their tax burdens.

Maru told a big crowd at Banz town in Jiwaka last Thursday at the launch of the Jiwaka Indigenous Business Council that businesses earning of less than K5 million profits annually should be tax exempt.

“To promote business activities and address the high unemployment rate, the government must lower corporate taxes and encourage more businesses to be set up,” he said.

 Meanwhile, it was revealed that many businesses in Jiwaka were operating illegally by not paying sales taxes.

John Munnul, owner of Kosem Coffee Ltd, a leading coffee exporter in the province, urged business houses to register with the Investment Promotion Authority to become legitimate.

Munnul told a big crowd in Banz town last Thursday that many business houses in the province were operating illegally.

“Almost all the businesses houses are not paying taxes,”he said.

Munnul told the people they must do business in an honest way and give back what is due to the government.

“As far as the office of the Investment Promotion Authority is concerned, there are only 420 registered companies in the province and most of them are tax evaiders,” he said.

Mannul said the private-public partnership policy was good for the private sector it they would get appropriate assistance from the government if it carried out their activities in the right way.