THE Internal Revenue Commission’s two-month tax amnesty which will end on Dec 31 is a threat to registered companies, especially SME groups, and a tax joyride for unregistered companies.
There is no escape route for registered companies when it comes to taxes. They are under IRC’s watchful microscope as it has all their details.
The officers concerned should visit or invite companies not paying taxes and discuss issues affecting their daily operations and help them find an alternative way to recoup overdue taxes, rather than issuing a threat.
The amnesty should be an invitation period for companies to discuss issues affecting the payment of taxes, rather than an action to recoup.
There are many nationals running businesses and paying taxes, but most of us do not benefit from these taxes.
The amnesty is unfair to registered SME groups struggling to grow their business while unregistered companies operate under no pressure from IRC.
There are some businesses, such as security firms, struggling with hourly rates as low as K2.90.
They cannot meet the employee’s wages of K3.50 per hour and the daily operations.
The tax amnesty is a threat to small businesses like them.