THE EFFECT OF MULTIPLE TAXATION ON SMALL SCALE ENTERPRISES IN AKWA IBOM STATE – Complete Project Material


ABSTRACT

Some investors for
prefer to keep their money in the bank rather than invest in small scale
enterprise, (SSES) due to high cost of running small scale business in Akwa
Ibom. The cost primarily concern, multiple – taxation, enormous tax burden,
levies and charges. This study examine the effect of multiple taxation on the
investment in small scale enterprise. The study used survey design with
population of 3334. Questionnaire was used to collect data. Simple
percentage/frequency were used to analyze the data and the research hypotheses
were tested with simple regression with SPSS production. It was found that
multiple taxation has negative effect on SSEs. The researcher recommends that
government should develop a tax policy that considers the enhancement of SSEs
capital allowance when imposing taxes. Government should also consider a tax
policy that encourages investment in SSEs by consolidating all taxes in one
slot and letter disseminate to various government purses rather having many
closely related but different taxes at the same time

 

TABLE OF CONTENTS

 

Title Page             –        –        –        –        –        –        –        –        –        i

Declaration –        –        –        –        –        –        –        –        –        –        ii

Certification         –        –        –        –        –        –        –        –        –        iii

Dedication            –        –        –        –        –        –        –        –        –        iv

Acknowledgement         –        –        –        –        –        –        –        –        –        v

Abstract      –        –        –        –        –        –        –        –        –        –        vi

Table of Content            –        –        –        –        –        –        –        –        vii

 

CHAPTER
ONE: INTRODUCTION

1.1           
Background of the Study        –        –        –        –        –        –        –        1

1.2     Statement of the Problem        –        –        –        –        –        –        –        5

1.3     Objective of the Study   –        –        –        –        –        –        –        7

1.4     Research Question         –        –        –        –        –        –        –        –        8

1.5     Research Hypotheses     –        –        –        –        –        –        –        8

1.6     Significance of the Study         –        –        –        –        –        –        –        9

1.7     Scope of the Study        –        –        –        –        –        –        –        –        9

1.8     Limitation of the Study  –        –        –        –        –        –        –        10

1.9     Organization of Study   –        –        –        –        –        –        –        10

1.10   Operational Definition of Terms       –        –        –        –        –        11

CHAPTER TWO: LITERATURE REVIEW

2.1     Conceptual Framework –        –        –        –        –        –        –        12

2.1.1  Overview of Nigerian Tax System    –        –        –        –        –        12

2.1.2  Concept of Taxation –    –        –        –        –        –        –        –        13

2.1.3  Concept of Tax Multiplicity    –        –        –        –        –        –        16

2.1.4
Global Experience of Multiple Tax Practices        –        –        –        –        20

2.1.5
Nigeria Experience of Multiple Taxation    –        –        –        –        21

2.1.6 Factors
Responsible for Multiple Taxation in Nigeria   –        –        22

2.1.7 Relevance of SSE to the Growth and
Development of National

Economy    –        –        –        –        –        –        –        –        –        23

2.1.8  Tax Accountability by Government  –        –        –        –        –        27

2.1.9  Tax Compliance of SMES       –        –        –        –        –        –        29

2.1.10
Effects of Taxes (Multiple Taxation) on Small Scale Enterprises – 30

2.1.11
Small and Medium Scale Enterprises in Nigeria: A Brief Review   32

2.1.12         Economic Advantages of SMES      –        –        –        –        –        35

2.1.13        
Problems of Small and Medium Scale Enterprises in Nigeria –        36

2.1.14         How do SMES View Tax Policies?  –        –        –        –        –        37

2.1.15         Polices that will Encourage SMEs Growth –        –        –        –        38

2.2     Theoretical Framework  –        –        –        –        –        –        –        40

2.2.1  Theory of Public Expenditure –        –        –        –        –        –        40

2.2.2  The Law of Increasing Activities       –        –        –        –        –        40

2.2.3  Displacement Theory     –        –        –        –        –        –        –        41

2.3     Empirical Review          –        –        –        –        –        –        –        –        41

CHAPTER
THREE: RESEARCH METHODOLOGY

3.1     Introduction         –        –        –        –        –        –        –        –        –        45

3.2     Research Design   –        –        –        –        –        –        –        –        45

3.3     Research Area      –        –        –        –        –        –        –        –        45

3.4     Sources of Data    –        –        –        –        –        –        –        –        45

3.5     Methods of Data Collection    –        –        –        –        –        –        46

3.6     Population  –        –        –        –        –        –        –        –        –        46

3.7     Sample Size and Technique of Determination      –        –        –        46

3.8     Techniques of Data Analysis   –        –        –        –        –        –        49

CHAPTER
FOUR: DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS

4.1           
          Data
Analysis      –        –        –        –        –        –        –        –        50

4.2           
          Socio-economic
Characteristics of the Respondents      –        –        52

CHAPTER FIVE: SUMMARY, CONCLUSION
AND RECOMMENDATIONS

5.1     Summary of Findings    –        –        –        –        –        –        –        72

5.2     Conclusion –        –        –        –        –        –        –        –        –        73

5.3     Recommendations         –        –        –        –        –        –        –        –        74

5.4     Suggestions for Further Research     –        –        –        –        –        76

References  –        –        –        –        –        –        –        –        –        77

Appendix   –        –        –        –        –        –        –        –        –        81

LIST OF TABLES

Table 4.1:  Distribution
of Questionnaire Administered and Retrieved     50

Table: 4.2   Distributed and Returned
Questionnaire    –        –        –        51

Table 4.3:   Percentage Age Range of
Respondents       –        –        –        52

Table 4.4:   Percentage Highest Level
of Education of Respondents –        52

Table 4.5:   Percentage Number of Years
you have started the Business   53

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE
STUDY

Taxation can simply be seen as a
compulsory transfer or payment of money from private individuals, institutions
or groups to the government.

It may be levied upon wealth or income in the form of surcharge on
prices. Taxes therefore are a proportion of the produce of land and labour of a
country placed at the disposal of the government, Multiple taxation on the
other hand, is the imposition of different types of taxes that could have come
under one major tax form on the people by the government.’

At times some
of the taxes are christened levies. However, within the context of this work,
all compulsory payment made by individuals and institutions to the government
are regarded as tax.

.

Taxes generally provide basis for
government revenue, which help them in carrying out their functions. This is
why Ojo. (1996) defined tax as a means by which government appropriate part of
private sector’s income and expenditure as its revenue for the purpose of
meeting r


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