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
ABSTRACT
Small and Medium Enterprises play a very important role in development of the Nigerian Economy. 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.
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Tax policy is one of the factors that constitute the Small businesses’ economic environment. This research work tries to establish if any relationship exists between the growth of Small businesses and the tax policy environment in which they operate in Nigeria. Questionnaires were distributed to Small businesses in Abeokuta, Nigeria.
It was found out that from most Small businesses surveyed; they were faced with the problem of high tax rates multiple taxation, complex tax regulations and lack of proper enlightenment or education about tax related issues like proportional tax and tax holiday.
Although there was a general perception that tax is an important source of fund for development of the economy and provision of social services, the study revealed a significant negative relationship between taxes and the business’ ability to sustain itself and to expand.
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In order to obtain a vibrant and flourishing SME sector, the tax policy needs to be appropriate such that it will neither be an encumbrance to the Small businesses nor discourage voluntary compliance. A suggested solution is by increasing tax incentives through reducing tax rates and increasing tax authorities’ support services towards small and medium enterprises.
Contents
CERTIFICATION.. ii
DECLARATION.. iii
DEDICATION.. iv
ACKNOWLEDGEMENTS. v
TABLE OF CONTENTS. vi
LIST OF TABLES. ix
ABSTRACT.. xi
CHAPTER ONE.. 1
INTRODUCTION.. 1
1.1Background of the Study. 1
1.2 Statement of Research Problem.. 3
1.3 Research Aim and Objectives. 3
1.4 Research Questions. 4
1.5 Research Hypotheses. 4
1.6 Significance of the Study. 5
1.7 Limitation of the Study. 5
1.8 Scope of the Study. 5
1.9 Outline of Chapters. 5
1.10 Operationalization. 7
1.11 Definition of Terms. 8
CHAPTER TWO.. 9
LITERATURE REVIEW… 9
2.1 Introduction. 9
2.2 Conceptual Review.. 9
2.2.1 Taxation. 9
2.2.1.1 Role of taxation in the economy. 12
2.2.1.2 Small scale business: 13
2.2.1.3 Problems faced by small scale business. 14
2.2.2Economic advantage of SMEs in Nigeria. 15
2.2.3 Reducing Tax burden for SMES as well as inreasing revenue. 16
2.2.4 Performance. 18
2.3 Theoretical framework. 21
2.3.1 Benefit theory. 21
2.3.2 the cost of servieTheory. 22
2.3.3 Ability to pay theory. 25
2.3.3.1 Porportional Tax. 26
2.3.4 Tax Holiday. 27
2.4 Empirical framework. 28
2.5 Gap in literature. 30
CHAPTER THREE.. 31
RESEARCH METHODOLOGY.. 31
3.1 Introduction. 31
3.2 Research Method. 31
3.3 Research Design. 32
3.4 Population of Study. 32
3.5 Sampling Technique/ Procedure. 33
3.6 Research Sample Frame. 33
3.7 Sources of Data and Procedure for Data Collection. 33
3.8 Research Instruments. 33
3.9 Validity of Research Instruments. 34
3.10 Reliability of the Research Instrument 34
3.11 Ethical Issues for Consideration. 35
CHAPTER FOUR.. 36
4.1Introduction. 36
4.2Presentation of Data. 36
4.3Data Analysis and Interpretation. 36
4.3.1 Analysis of Demographic Data. 36
4.3.2 Test of Questionnaire. 40
4.5 Discussion of Results. 53
CHAPTER FIVE.. 54
5.1 Introduction. 54
5.2 Summary. 54
5.3 Summary of Findings. 55
5.3.1 Theoretical Findings. 55
5.3.2 Empirical Findings. 55
5.4 Conclusion. 56
5.5 Recommendations. 56
5.6 De-limitation. 56
5.7 Suggestion for Further Study. 57
5.8 Contribution to Knowledge. 57
REFERENCES. 58
Appendix II. 65
CHAPTER ONE
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INTRODUCTION Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
1.1 Background of the Study
The development of small and medium scale business enterprises is greatly affected by the level of taxation, its administration and compliance; The higher the task risk of the greater the efforts to fulfill taxation requirements as well as to check how those requirements are met, the lower the initiatives for small and medium scale businesses to work hard. Thus, maintaining the tricky balance between tax rate, compliance cost, tax administration and economic growth should be a major goal of every tax policy.
The relationship between taxation and the level of growth of small and medium scale enterprises has been a debatable issue over the years. The perceived relationship can be either positive or negative depending on the type of tax policy adopted by the government.
However, it is generally agreed that high task rate can lead to decrease in business activities since it dampens the incentives to invest while low tax rate, on the other hand, tends to increase growth of business activities as profits are increased which lead to further investment as well a expansion of business.
A high marginal tax rate lowers an investor’s willingness to invest by lowering the returns on his investment (palacio and Harischandra, 2008). In the same vein, a reduced amount of business activities has a number of negative consequences including decreased productivity of workers and reduced output, employment and ultimately, living standard of the people.
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