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Name: Reylance S. Lacerna Course/Year/Section: BS Infotech 4-C

Instructor: Bernadith A. Radaza Subject: Entrepreneurial Mind

Topic: Taxation and Business Laws

A solid knowledge of business and tax regulations is necessary for running a

successful business. Taxation is the act of obtaining money from citizens and businesses
through taxes in order to support government services and initiatives, whereas
business laws are the rules that govern the establishment, operation, and closure of
firms. Any firm that wants to continue operating legally and profitably must be aware of
and abide by these regulations.

As it contributes to the funding of the government services and initiatives that

businesses depend on to succeed, taxation is a crucial component of managing a
successful corporation. Taxation is a crucial component in ensuring that businesses
have the resources they need to succeed, from infrastructure projects like roads and
bridges that are required for businesses to transport goods and services to social
programs like education and healthcare that are necessary for businesses to recruit and
retain employees. Enterprises must abide by business laws in order to function legally
and successfully, as they set the foundation for how businesses should conduct
themselves. They offer advice on matters including how to establish a business, how to
register a firm, how to safeguard intellectual property, and how to close down a
business. Business laws also offer guidance on issues like consumer protection laws,
employment laws, and environmental laws, all of which are crucial for companies to
comprehend and follow in order to stay compliant and successful.

A successful business must incorporate both taxation and business laws because
they provide the necessary framework for operations. Businesses would not be able to
support the government services and programs they depend on without taxes, and
without business laws, they wouldn't have the direction they require to establish, run,
and dissolve their companies in a lawful and effective manner.

Doc. Code: SLSU-QF-MR02

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Date: 16 November 2017 https://www.youtube.com/c/SouthernLeyteStateUniversity