There is no significant relationship to show that finance. This is approved for students in accountancy, business, computer science, economics, engineering, arts. Impact of taxation on small and medium scale businesses in. Today, i will be introducing you to the top ten 10 highly lucrative or profitable small scale business anyone can start here in nigeria. In a middleincome country like ghana, the role of smes is critical. Taxation of small and medium enterprises by a thesis. Pdf impact of tax on small businesses edwin oyaro academia. Factors that affect tax comp liance among small and. To assess the impact of taxation on small and medium scale business enterprises in nigeria. The impact of microfinance on small scale business in nigeria ashamu, sikiru o.
In the 1990 budget, the federal government of nigeria defined small scale enterprises for purposes of commercial bank loans as those with an annual turnover. Gordon keith the impact of the federal tax system on small business has been a matter of increasing interest and concern to many persons. Pdf effects of multiple taxation on the performance of. Government policy and performance of small and medium. Effect of multiple taxation on the performance of small. The study aimed at assessing the performance of business enterprises in nigeria, finding out if tax payers are aware of all their tax obligations, policies and.
The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. The impact of taxation on small business semantic scholar. Top ten 10 most profitable small scale businesses in nigeria. Taxation in nigeria understanding nigerian tax system. The amendments are staged across five broad thematic areas to. Effect of multiple taxation on smallmedium enterprises in nigeria dr. The performance and importance of smes going forward are bound to be even bigger and more immanent with a detectable impact on the rising world commercialism order. Over the years, small and medium scale enterprises have been an avenue of job. It also looked at the impact of multiple taxation on investment decision of smes operators. The performance and importance of smes going forward are bound to be even bigger and more immanent with a detectable impact on the rising world commercialism. This study is on the effects of multiple taxation on the performance of small and medium scale enterprises smes. Problems and prospects, was undertaken to find out if the sme subsector in nigeria has performed its critical role of driving the. The impact of taxation on small and medium scale business in nigeria abstract the study was carried out to find out the impact of taxes on small and medium scale business enterprises in.
International journal of small business and entrepreneurship research vol. Small and medium scale enterprises have undoubtedly improved. Taxation should not impose a disproportionately heavy burden on smes. Effects of multiple taxation on the performance of small. Apr 07, 2017 in nigeria a considerable fraction of the businesses are sole traders operating small scale business, locally owned and managed by individuals or families and often with very few employees working at a single location nigeria development bank report, 1988.
Taxation plays important role in the development of every economy as well as the growth of small and medium enterprises smes. Taxation of small and medium enterprises semantic scholar. Pdf the effect of tax payment on the performance of smes. Businesses in whatever form, size or sector are required by law to comply with all relevant legislation including taxation. This study is on the quantitative impact of small and medium scale enterprises smes on nigerias economic growth performance for the sample period 1993 to 2011. Impact of taxation on the operation of small and medium. To assess the impact of taxation on small and medium. Introduction small and medium scale enterprises smes are generally regarded as the engine of.
Chapter 3 examines the costs of taxation according to welfare and. This article will discuss fast growing small scale. Download complete project materials on impact of taxation on the operation of small and medium scale business from chapter one to five with references and abstract. Impact of multiple taxation on small and medium scale. Tax assessment can adversely affect many parts of the economy, including impacts on firm creation and on the advancement of little and mediumsized undertakings smes. Economy, nigerian, small and medium scale enterprises, tax policy. To determine the tax policy used to administer tax on smallscale business. According to bolton 1971 committee defined small and medium scale enterprise as a firm. Problems and prospects, was undertaken to find out if the sme subsector in nigeria has performed its critical role of driving the countrys industrial transformation and development as it has done in other developed countries. Smes have to recognize what their resources are and they need to know how to utilize them, flex them into an advantage for their business.
Making up about 97% of the entire economy, they serve as a source of employment generation, innovation, competition, economic dynamism which ultimately lead to poverty alleviation and national growth. There is evidence to show that workers implement management policies in small scale business. Also, the effect of taxes on small and medium scale businesses in oron. It is imperative that the nigerian tax legislation is updated frequently to respond to the challenges of todays business. In this paper, the impact of two current policies in ukraine on sme taxation. For taxation to make the desired impact on the economic development of nigeria as the major source of government revenue. Most smes do not progress well due to various constraints, one of them being poor accounting records. Effects of multiple taxation on the performance of small and medium scale business enterprises in benue state. Also, the effect of taxes on small and medium scale businesses in oron local government area. The realities of taxation of taxation in the informal sector in enugu state.
Over the years, small and medium scale enterprises smes have been an. The most frequent upper limit designating an sme in nigeria is 5250 employees. The purpose of the study was to evaluate the impact of taxes on small scale business enterprises in nigeria. Effect of multiple taxation on smallmedium enterprises in nigeria. Effect of multiple taxation on the performance of small and. The view has also been expressed by at least one investment banker that high personal income taxes have not necessarily made it more difficult for new small.
The study was carried out to find out the impact of taxes on small and medium scale business enterprises in nigeria. Impact of taxation on small and medium scale business in nigeria abstract small and medium enterprises play a very important role in development of the nigerian economy. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed. Abstract this is a research work on the impact of taxation on small scale business in a developing economy. Impact of taxation on small and medium scale businesses in nigeria, entrepreneurship project topics and materials, project topics and pdf. Download undergraduate projects topics and materials accounting, economics, education. The purpose of this study research is to know the impact of taxes on small scale businesses in akwa ibom state. Over the years, small and medium scale enterprises smes have been an avenue of job creation and the empowerment of nigerian citizens, providing about 50% of all jobs in nigeria and also for local capital formation. This article will discuss fast growing small scale business ideas to invest in nigeria, investment opportunities for nigerians living in diaspora. Small and medium scale enterprises, sme operators, portharcourt city, nigeria. Small and medium enterprises play a very important role in development of the nigerian economy.
The study was carried out to find out the impact of taxes on small and medium scale business. Tax payment is a voluntarily contribution imposed by the government on personal income earners, companies, investors, exporters, importers etc. The study aimed at assessing the performance of business enterprises in nigeria, finding out if tax payers are aware of all their tax obligations, policies and problems affecting them as well as their businesses. In this work, chapter 2 will define small and medium enterprises, describe their functions and the evaluate importance of the sme sector in economies in transition as well as discuss the impact of. Starting a business isnt a luxury but a necessity for anyone whose aim in life is to make good. Impact analysis of tax policy and the performance of small. Relationship between tax policy, growth of smes and the nigerian. Taxation can have important effects on many parts of the economy, including impacts on firm creation and on the development of small and mediumsized enterprises smes. Implication of multiple taxation on the performance of. In nigeria a considerable fraction of the businesses are sole traders operating small scale business, locally owned and managed by individuals or families and often with very few. Tax policy is one of the factors that constitute the small businesses economic environment. The business environment this can be improved by systematic and careful. Issues, challenges and prospects of small and medium scale. Over the years, small and medium scale enterprises have been an avenue of job creation and the empowerment of nigeria s citizen, providing about 50% of all jobs in nigeria and also for local capital formation.
Small scale enterprises form the core of majority of the worlds. Developing an environment conducive to sme growth whilst ensuring tax compliance is a challenge all countries face. A study carried out by the federal office of statistics shows that in nigeria, small and medium enterprises make up 97% of the economy ariyo, 2005. Small, medium and microenterprises smmes contribute 36. The study aimed at assessing the performance of business enterprises in nigeria, finding out if tax payers are aware of all their tax obligations, policies and problems affecting them as well as their. Implication of multiple taxation on the performance of small scale enterprises.
Government influence on small business enterprises 2. The realities of taxation of taxation in the informal. Gordon keith the impact of the federal tax system on small business has been a matter of in creasing interest and concern to many persons durinj the last few years. This study is on the effect of multiple taxation on the performance of small and medium scale enterprises. Descriptive statistics was used to study the data collected for this work through a wellstructured questionnaire. The effects of multiple taxation on small and medium scale businesses are outlined in order for drastic measures to be taken to tackle these challenges and meet the prospects of the general public so that revenue from tax policy to the government can be increased. Over the years, small and medium scale enterprises have been an avenue of job creation and the empowerment of nigerias citizen, providing about 50% of all jobs in nigeria and also for local capital formation. This paper discusses the importance of creating taxation systems which promote sme tax compliance. Impact of multiple taxation on small and medium scale businesses in nigeria, free undergraduate project topics, research materials, education project topics, economics project. This research work tries to establish if any relationship exists between. In nigeria the importance of small business as a creator of jobs, particularly for those with a low skills level, is widely recognized. It sees smes as firms with less than 50 employees and at least half the output is sold. Get free research paper on the effect of naira devaluation on small and medium scale enterprises in nigeria project topics and materials in nigeria. In this work, chapter 2 will define small and medium enterprises, describe their functions and the evaluate importance of the sme sector in economies in transition as well as discuss the impact of taxation system on small and medium enterprises development.
Small and medium enterprises smes form the core of majority of the worlds economies. This research has been conducted at dar es salaam region to investigate the impact of accounting records on small and medium enterprises s mes performance in tanzania. What are the effects of taxation in small business enterprise. Get free research paper on impact of multiple taxation on small and medium scale businesses in nigeria project topics and materials in nigeria. Impact of multiple taxation on small and medium scale businesses in nigeria, largest undergraduate projects repository, research works and materials. Pdf the study examined the effects of multiple taxation on the growth of small and medium enterprises smes in nigeria. This research is based the effects of multiple taxation on smallmedium enterprises in nigeria focused on finding the changes. To find out if tax payers are aware of all their tax obligations and policies. Introduction small and medium scale enterprises smes are generally regarded as the engine of economic growth and equitable development in developing economies. Aug 15, 2016 the purpose of this study research is to know the impact of taxes on small scale businesses in akwa ibom state. Nigeria defines small and medium enterprises as one whose total fixed assets excluding land plus cost of investment do not exceed ten million naira in constant 1985 price. This research will also identify those areas that affect small scale enterprises in oron local government area of akwa ibom state.
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