This is assuming no reaction from people to this tax going into effect. And that's of course stupid. This is trivial to game and for that reason it will rapidly turn into a money pit for the tax agency.
After all, it's real easy for entrepreneurs to be unsuccessful. You get some nonzero valuation by having a friend bid or give some investment and thereby set the valuation, and then you go bankrupt.
The money comes from investors, goes to the tax agency, and comes back again. (Or maybe it doesn’t if it’s just a credit towards future taxes?)
This scheme depends on winning the trust of investors and then defrauding them. Sure, it can be done, but there are other ways. The simplest would be paying yourself a higher salary.
Presumably, investors are aware of the risks and are willing to take them.
After all, it's real easy for entrepreneurs to be unsuccessful. You get some nonzero valuation by having a friend bid or give some investment and thereby set the valuation, and then you go bankrupt.