My aim here is to make you aware of the reasons why you should willingly pay your taxes and engage in one form of corporate social responsibility or the other as an entrepreneur and the whole lot of benefits you will derive just by doing that. You know, people will naturally not want to spend their money especially where they are not sure of getting any reward. But, willingly paying your taxes as well as engaging in one form of corporate social responsibilities or the other are part of things which promote success in business.
First of all, you have to understand what tax and corporate social responsibilities are before you can appreciate what we will be telling you here. Forget about what you think about them or what most academicians have said about them – theirs are mainly for academic purposes and often they use their high sounding grammar to “water down” the “business meaning” of things.
Taxes are the contributions in financial terms to the governments by it’s citizens for the proper running of that nation. They are what you pay your government for the provisions of basic amenities, infrastructural developments and for the maintenance of law and the order within the nation as well as protecting the nation from an external aggression.
Forget about the notion you might have had about government and taxes. Without taxes, no government can operate; and where there is no government, there will be anarchy and eventually nobody. Your responsibility is to pay your taxes and government’s responsibility is to utilize the tax payers’ money judiciously. Concentrate only in doing your bit and allow government to sort itself out. Our suggestion is that you should use all the legal available means to reduce your tax liabilities as low as possible as governments strive to use all their legal weapons to increase the taxes. That is why you need professionals in your team or the services of consultants.
Benefits of paying your taxes amongst others include:
your being able to run your business confidently,
your ability to do business with the government,
your being in the forefront to receive incentive from the government,
your being able to have deals with big corporations,
your being gingered to putting up a good system for your business,
your definitely looking out for means of increasing your profitability and
your employing professionals that will help you man your business.
CRS – Corporate Social Responsibilities is a belief that businesses are accountable to community in which they operate- that businesses should take into account the social, ethical, and environmental effects of their activities on their staff and the community around them.
And businesses are indispensable in sustainable development of any nation. Without active contribution from the private sector, there can be little enduring social or environmental progress.
Benefits of engaging in Corporate Social Responsibilities amongst others include:
your presence will be well felt in your community
it builds and strengthens your brand
it develops consumer and employee loyalty
it attracts “spiritual money” to your business
your employees feel a sense of pride belonging to an organization that is committed to the society.