Costly tax, out of reach incentives choke small business

The country's tax policy and structure is disadvantageous to micro, small and medium enterprises (MSMEs). [iStockphoto]

Costly compliance to tax laws and out-of-reach incentives offered by the government are choking small enterprises out of business, a new study reveals.

These barriers have also denied county governments the much-needed revenue as traders would collude to pay less than the required amount which is pocketed by the county revenue officers.