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What are the different types of taxes I should be aware of while starting a business?

April 26, 2017different starting a business taxes types

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What are the different types of taxes I should be aware of while starting a business?

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Keep in mind that you may need to pay value-added tax (VAT), which is almost always compulsory for businesses to charge clients. Income tax is to be paid if you are the direct/shareholder/employee of a limited company. However, if you are an entrepreneur, you could benefit from certain exemptions. If you employ staff, you will need to pay wage tax. If you have a private company with limited liability, you will pay corporation tax as well.