• Format: ms-word (doc)
  • Pages: 65
  • Chapter 1 to 5
  • With abstract reference and questionnaire
  • Preview abstract and chapter 1 below

 5,000

EFFECTS OF MULTIPLE TAXATIONS ON BUSINESS SURVIVAL IN NIGERIA

Taxation is one of the major fiscal policies the government of anynation such as Nigeria can use to achieve economic stability and in the financing of capital expenditure. Various taxes are levied upon the income, wealth or gain of an individual, family and business firm by the government for the purpose or benefits of the general public.
Tax by a simple definition is a financial charge or other levy imposted upon a tax payer which could be an individual or a legal entity from the point of view of the student researcher by a state such that failure to pay is punishable by law. Thus, taxation cannot be regarded as a voluntary payment or donation but an enforced contribution exacted pursuant to legislative authority. In modern taxation system such as Nigeria, taxes are levied, in money which could be use for myriads of functions or purpose such ay a expenditure on public order, protection of lives and property, economic infrastructure  cures such as roads, public works,   social  engineering  and  the  operation  of  government itself (Carrol, et al 2000).
The taxes collected by the government no doubt emanate from varying sources ranging from personal income tax, company income tax, capital gain tax, property tax, education, tax, task but to list a few.
The Nigerian government in attempt to raise revenue and enhance the economic development of Nigeria has subjected many firms to multiple taxations which they are mandated or made compulsory to pay irrespective of the sector the business firms operate or else take the wrath of the law A survey carried out by the Manufacturers Association of Nigerian (MAN1) and (Centre for International Private Enterprise ICIPE) identified multiple taxation as the bane of private sector business growth in Nigeria (Anyamvu, 2012).      The survey established the relationship between multiple taxations in the pilot state across the three tiers of government and re-affirmed its negative effects to private sector growth and businesses in Nigeria.
According to the survey, it was established that multiple taxation could lead to divestment as well as jeopardize foreign direct investment coming into Nigeria, while adversely affecting the Competitions of
existing businesses and their survival, Moreover it was also established that currently most businesses in Nigeria consider the tax environment as unfriendly and disincentive to business, stressing that it engenders loss of man hour to both the government and private businesses.
According to Osagie (2012) tax environment inNigeria especially the policy on multiple taxation increases the cost of doing business in the country. As a matter of fact, some business including manufacturing companies have shut down production while in some cases, have relocated their factories to other West African countries which are considered to be more investment friendly. Against this back drop, this project examines the effects of multiple taxation on business survival in Nigeria.

GET THE COMPLETE PROJECT»

Do you need help? Talk to us right now: (+234) 08060082010, 08107932631 (Call/WhatsApp). Email: [email protected].

IF YOU CAN'T FIND YOUR TOPIC, CLICK HERE TO HIRE A WRITER»

Disclaimer: This PDF Material Content is Developed by the copyright owner to Serve as a RESEARCH GUIDE for Students to Conduct Academic Research.

You are allowed to use the original PDF Research Material Guide you will receive in the following ways:

1. As a source for additional understanding of the project topic.

2. As a source for ideas for you own academic research work (if properly referenced).

3. For PROPER paraphrasing ( see your school definition of plagiarism and acceptable paraphrase).

4. Direct citing ( if referenced properly).

Thank you so much for your respect for the authors copyright.

Do you need help? Talk to us right now: (+234) 08060082010, 08107932631 (Call/WhatsApp). Email: [email protected].

//
Welcome! My name is Damaris I am online and ready to help you via WhatsApp chat. Let me know if you need my assistance.