THE CHALLENGES ASSOCIATED WITH THE TAX ACCOUNTING FOR START-UP BUSINESSES
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- NGN 3000
Abstract: THE CHALLENGES ASSOCIATED WITH THE TAX ACCOUNTING FOR START-UP BUSINESSES
This study explores the challenges associated with tax accounting for start-up businesses in Ogun. The objectives are to identify the key tax accounting challenges faced by start-ups, assess the impact of these challenges on business growth, and evaluate strategies for improving tax compliance and management. Using a survey design, data was collected from 200 start-up founders, derived using Taro Yamane's formula. A case study of a successful start-up in Ogun provided comprehensive insights. The reliability coefficient score was 0.86. Findings show that start-ups face significant challenges, including complex tax regulations, limited resources for tax management, and difficulties in understanding tax obligations. Recommendations include simplifying tax laws for start-ups, providing more support and training for new businesses, and developing tools and resources to aid in tax management.
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