ProjectClue.com We're Ready, Call Us

(+234) 07030248044

IMPACT OF MULTIPLE TAXATIONS ON BUSINESS SURVIVAL IN NIGERIA

ACCOUNTING UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

191 people found this post useful


The article on this topic (impact of multiple taxations on business survival in Nigeria) is an extract from literature review of the project material. The complete project work would be made available when you subscribe for the complete project material.

 

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.2. CONCEPTUAL REVIEW

Taxation is one of the major fiscal policies the government of any nation 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 imposed 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 in Nigeria 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 »

OTHER SIMILAR ACCOUNTING PROJECTS AND MATERIALS

AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Secondary data, Data Analysis,Abstract  ::   541 engagements

CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »

A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   443 engagements

ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   220 engagements

HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »

APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   289 engagements

2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »

ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 69 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   238 engagements

ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »

ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 86 ::   Attributes: Questionnaire, Data Analysis  ::   176 engagements

THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »

What are looking for today?

WHAT OUR CUSTOMERS ARE SAYING:
  • 1. Da Boss from Unilag said " projectclue.com is a blessing to Nigerian students. My job was delivered not only on time, they deliver high quality job. You guys exceeded my expectations".
    Rating: Very Good
  • 2. Denis Okalu from College of Education said "Great delivery. Una dey try wella!!!".
    Rating: Excellent
  • 3. Dave Bona from FUTA said "I had a wonderful experience using ProjectClue, they delivered not only on time, but the content had good qualty. I recommend ProjectClue for any project research work.".
    Rating: Very Good