Herewith some suggestions on making taxes easy for small business.

· Give small business a tax holiday of about two years after start-up. · Simplify tax legislation. · Tax small business only on "cash generated by operations", up to a certain threshold. · Profit less working capital (debtors and inventory on hand) plus depreciation equals cash generated by operations, which in turn becomes taxable income. · Exempt small business from employee; value added or general sales tax up to certain thresholds. (Already in place in some countries). · Taxable income thresholds could be, 0 to $200 000; $201 000 to $500 000(for small business), depending on the definition of a small business in the respective country. · As soon as the taxable income exceeds $ 500 000, a higher progressive rate applies. Taxes on "cash" income could also fall away at this level.

My suggestions are in no way exhaustive. More substantive research is needed. If we accept that we live in a global village, taxes will also have to be harmonised and standardised, between the different countries. What International Accounting Standards have done for accounting; can be suggested for taxation also.

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