Taxes affecting small business owners

Japheth Nyamuhanga who buys sleepers' at wholesale at a Isebania border-shop. [Caleb Kingwara, Standard]

Global tax industry practice shows that all and any taxes fall into about three categories based on what you earn, buy and own.

In the case of corporate income taxes, small businesses should expect to be levied accordingly on business profits – which are revenues (what a business makes in sales) minus costs (the cost of doing business).