Does tax really cost proportionately more than fuel?
According to new research by Creditsafe, a business information company, SMEs are spending an average of 15.7% of their total expenditure costs in fulfilling tax obligations.
Tax ranks third in the league table of total business expenditure for SMEs, with wages accounting for almost a third (29%) of total expenditure and investment in stock and materials running at 17.5%. Fuel costs now account for 10% of overall costs. This does seem to put the cost of fuel into perspective!
Date: 16th January, 2009
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