Impact of taxation on small and medium scale businesses in nigeria pdf

With the signing into law, the finance act 2019 is expected to set the tone for nigeria s fiscal policy for 2020. The impact of accounting system on the performance of small. Another problem in taxing small and medium sized enterprises is tax evasion. Under the scheme, all banks in nigeria are required to set aside 10 per cent of their profit before tax annually for equity investments in small and medium scale industries. Government policy and performance of small and medium. As affirmed, currently about 87% of the businesses in nigeria operate as small and medium enterprises. Furthermore, the finance act seeks to provide a boost to small and medium scale enterprises by reducing their tax burden. 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. Problems of establishing small business enterprise in nigeria. Smes account for the majority of businesses worldwide and are important contributors to job creation and global economic development. Impact of taxation on small and medium scale business in nigeria with abstract, chapter 15, references and questionnaire. This is a research work on the impact of taxation on smallscale business in a developing economy.

Also, the effect of taxes on small and medium scale businesses in oron local government area. It also looked at the impact of multiple taxation on investment decision of smes operators. A case study of ekene dili chukwu nigeria limited enugu. The role of small and large businesses in economic development by kelly edmiston i ncreasingly, economic development experts are abandoning traditional approaches to economic development that rely on recruiting large enterprises with tax breaks, financial incentives, and other inducements. Impact of multiple taxation on small and medium scale. One of the main challenges confronting small scale business promoters is the issue of tax. The study was carried out to find out the impact of taxes on small and medium scale business enterprises in nigeria. To find out if tax payers are aware of all their tax obligations and policies. Primary data was collected on valuables contributing to tax influence and their effect of the growth of smes. Accounting system has significant impact on the performance of small and medium scale enterprises in nigeria. Government policies that affects small and medium scale enterprises smes by. The purpose of this study research is to know the impact of taxes on small scale businesses in akwa ibom state. 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.

Time series data from central bank of nigeria cbn report on the activities of microfinance institutions. According to the survey, 95% of the formal manufacturing activity is held by smes and 70% of industrial jobs. This research will also identify those areas that affect small scale enterprises in oron local government area of akwa ibom state. How the new finance bill will impact your business. Abstracta business whether small or big, simple of complex, private or public is created to provide competitive prices. By virtue of its size, improved economic management and strong economic growth in nigeria would generate. Pdf effects of multiple taxation on the performance of.

The study only torches on the challenges tax policies in nigeria and how it can affect self employed business men and women, traders, and other forms of sole proprietorship businesses. 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. 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. Impact of small scale business enterprises in nigeria economic development. Effect of multiple taxation on the performance of small and. Accounting system has no significant impact on the performance of small and medium scale enterprises in nigeria. Aug 21, 2017 this makes it highly important for businesses to be informed on various ways these policies affect their sales, profitability and overall objectives. This study is on the effect of multiple taxation on the performance of small and medium scale enterprises. 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. Effects of multiple taxation on the performance of small and medium scale business enterprises in benue state, international journal of academic research in business and social sciences, human resource management academic research society, international journal of academic research in business and social sciences, vol. Factors affecting the performance of small and medium. The development of small scale enterprises not only contributes significantly to imposed standard, they also bring. Factors affecting the performance of small and medium enterprises in the jua kali sector in nakuru town, kenya. Issues, challenges and prospects of small and medium scale.

In this paper, the impact of two current policies in ukraine on sme taxation is analyzed. 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. These two definitions did not clearly differentiate micro, small and medium scale businesses. According to arnold and mclntyre 2002, tax is a compulsory levy imposed by. Smes not only contribute extensively to improved living standards, they also bring considerable local. Today, i will be introducing you to the top ten 10 highly lucrative or profitable small scale business anyone can start here in nigeria. Impact analysis of tax policy and the performance of small. Thandile gubevu and darrell beghin, for facilitating the overall project exercise and the useful comments on the draft report that helped shape the format of. The small scale business entrepreneurs serve as commercial nerve center of nigeria, are confronted with diverse problems which often leads to liquidation of their business. Since the adoption of the economic reform programme in 1986, there has been a decisive shift from grandiose, capital intensive and large scale. 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. Get free research paper on the impact of government policy on the growth of small and medium scale business in nigeria project topics and materials in nigeria. Pdf taxation plays important role in the development of every economy as well as the growth of small and medium enterprises smes.

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. Apr 25, 2018 impact of taxation on small and medium scale businesses in nigeria, entrepreneurship project topics and materials, project topics and pdf. This study is on the effects of multiple taxation on the performance of small and medium scale enterprises smes. The role of small and large businesses in economic development. What finance act 2019 means to businesses, economy. This research focuses mainly on the impact of nigerian tax policies on the economy and small businesses in nigeria. Asian journal of business and management sciences issn. Aug 15, 2016 this research focuses mainly on the impact of the taxation on small and medium scale businesses in akwa ibom state to tax policies on the economy and small scale businesses in oron local government area. Medium enterprises in akwa ibom state, nigeria ebitu, ezekiel tom, ph. The effect of tax payment on the performance of smes. What are the effects of taxation in small business enterprise. Effects of multiple taxation on the performance of small. The study looked at the impact of tax influence on smes sector growth in kenya.

The most frequent upper limit designating an sme in nigeria is 5250 employees. A lack of management skills and expertise is a major. However, while the development may mean money for the government from increased tax revenue, and growth of the small businesses, it would in the shortterm affect negatively the purchasing power of most nigerians. Download complete research project materials on impact of taxation on small and medium scale businesses in nigeria project materials ms word documentation only 52 pages 15 chapters impact of taxation on small and medium scale businesses in nigeria. To assess the impact of taxation on small and medium scale business enterprises in nigeria. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed. Small and medium enterprises sme play an important role in production sector of many developed countries. Small and medium scale enterprises smes in nigeria the marketing interface. Particularly in developing countries the problems of taxing small businesses are welldocumented, but at a smaller scale, problems of tax evasion of small businesses may also be disproportionate in developed economies. Effects of multiple taxation on the performance of small and. The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. Impact of taxation on the operation of small and medium.

The purpose of the study was to evaluate the impact of taxes on small scale business enterprises in nigeria. Factors that effect taxation of small and medium sized. The development of small scale enterprises smes in nigeria is an essential element in the growth strategy. Taxation of small and medium enterprises by a thesis. Impact of taxation on small and medium scale businesses in.

Small and medium sized enterprises smes are important for their contribution to employment, innovation, economic growth and diversity. Making up about 97% of the entire economy, they serve as a. Factors that affect tax comp liance among small and medium. Ideally, taxes should be neutral with regard to the business decisions of smes, including decisions related to their creation, form and growth. Therefore, the objective of this study impact analysis of tax policy and the performance of small and medium scale enterprises in nigerian economy is. The area of study was ekene dili chukwu nigeria limited enugu. Pdf the effect of tax payment on the performance of smes. This paper studies the effect of globalization on small and medium enterprises smes performance in nigeria. The impact of accounting system on the performance of. Relationship between tax policy, growth of smes and the nigerian.

Small and medium enterprises smes play a major role in most economies, particularly in developing countries. Also, the cit for medium scale businesses with a turnover of between. The study adopts an ex postfacto type of descriptive research design. Top ten 10 most profitable small scale businesses in nigeria. D department of marketing, university of calabar, nigeria. This sector employs approximately 50% of the working force contributing up to 50% to its industrial output. The higher is the share of small and medium businesses in the economy, the higher productivity can be potentially realized with the sme sector. Impact of multiple taxation on competitiveness in nigeria nihal pitigala and mombert hoppe march 2011 introduction nigeria is africas most populous country and second largest economy after south africa. They represent about 90% of businesses and more than 50% of employment worldwide. Although, government policies may come in different forms, this short article will only address the implications of fiscal and monetary policy to small and medium enterprises smes.

The study examined the impact of three marketing strategies product quality, marketing communication and relationship marketing on the performance of selected small and medium scale enterprises in akwa. 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. Small and medium industries equity investment scheme smieis smieis was the idea of the bankers committee. 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. Small and medium enterprises smes form the core of majority of the worlds. Impact of taxation on small and medium scale business in. It is noteworthy that most of the small businesses in nigeria are sole proprietorship and partnerships. Information gathered from the study could be used by managers of small and medium scale enterprises for.

After nigerias independence in 1960, much emphasis has been laid on the growth of small and medium scale industries as a means of reducing the incidence of poverty and unemployment in the country. Abstract this is a research work on the impact of taxation on small scale business in a developing economy. Tax is a charge levied on the citizens by a country or state. Effects of multiple taxation on the performance of small and medium scale business enterprises in benue state. Small and medium scale enterprises financing and development. Government policies that affects small and medium scale enterprises smes. Small and medium enterprises play a very important role in development of the nigerian economy. Download undergraduate projects topics and materials accounting, economics, education. Effect of multiple taxation on the performance of small. Factors affecting the performance of small and medium enterprises in the jua kali sector in. Pdf effect of globalization on small and medium enterprises. Gordon keith the impact of the federal tax system on small business has been a matter of increasing interest and concern to many persons durinj the last few years. 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 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.

Conceptual framework poverty, unemployment, and high crime rates in nigeria have been of great concerns to the. 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. Effect of multiple taxation on smallmedium enterprises in nigeria. Tax assessment can adversely affect many parts of the economy, including impacts on firm creation and on the advancement of little and medium sized undertakings smes. Taxation of small and medium enterprises semantic scholar. Impact of small scale business enterprises in nigeria. Small businesses wont pay companies income tax if your business s annual turnover is less than. Pdf the study examined the effects of multiple taxation on the growth of small and medium enterprises smes in nigeria.

Impact of multiple taxation on africa trade policy notes. Government policies that affects small and medium scale. The impact of information communication technology ict. Development of small and medium enterprises is heavily influenced by the level of taxation. Therefore, the objective of this study impact analysis of tax policy and the performance of small and medium scale enterprises in nigerian economy is to investigate impact of tax policy on the performance of small and medium scale enterprises in nigerian economy. This study, small and medium scale enterprises smes in nigeria. This study is on the quantitative impact of small and medium scale enterprises smes on nigeria s economic growth performance for the sample period 1993 to 2011. Descriptive statistics was used to study the data collected for this work through a wellstructured questionnaire.

The development of small and medium scale business enterprises is greatly affected by the level of taxation, its administration and compliance. This is approved for students in accountancy, business, computer science, economics, engineering, arts. 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. Impact of multiple taxation on small and medium scale businesses in nigeria, largest undergraduate projects repository, research works and materials. In cameroon, the center for assistance to small and medium scale enterprises capme defined sme as a company that is wholly owned and managed by the cameroonian, owned capital of at least 52 percent in the business, has a turn over equal to or less than 1,000 million cf a, total investment not. 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. Get free research paper on impact of multiple taxation on small and medium scale businesses in nigeria project topics and materials in nigeria. Pdf impact analysis of tax policy and the performance of small. Nigeria will thus be one of the few early adopters of globally relevant tools for tracking and harnessing tax revenue from economic activities that occur within our fiscal community.

Impact of taxation on small and medium scale businesses in nigeria, entrepreneurship project topics and materials, project topics and pdf. Impact of taxation on the operation of small and medium scale. It is aimed at ascertaining the extent to which ekene dili chukwu taxation. Building up a domain helpful for smes development while guaranteeing charge c. I can assure that i am either presently doing one of these businesses or involved with a friend who is involved in them. Primary data was collected on valuables contributing to tax influence and their effect of the growth. A total of 50 respondents were considered out of the entire population in the iten town. The bankers committee at its 246th meeting held on 21st. Over the years, small and medium scale enterprises smes have been an avenue of. This study examines the impact of microfinance institutions in financing small scale enterprises for economic growth in nigeria. Small and medium enterprises smes form the core of majority of the worlds economies.