THE IMPACT OF TAX AUDITS ON BUSINESS OPERATIONS
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: Available
- Recommended for : Student Researchers
- NGN 5000
Abstract: THE IMPACT OF TAX AUDITS ON BUSINESS OPERATIONS
This study investigates the impact of tax audits on business operations in Lagos. The objectives are: to examine the operational disruptions caused by tax audits, evaluate the financial implications of tax audits, and assess the strategies businesses use to manage audit processes. A survey design was employed, with data collected from 300 business executives, derived using Taro Yamane's formula for an accurate sample size. A case study of a prominent manufacturing company in Lagos provided detailed insights. The reliability coefficient score of the survey instrument was 0.87, indicating high reliability. Findings reveal that tax audits often lead to significant operational disruptions, including resource diversion and time consumption. Financially, businesses face increased costs due to penalties and compliance efforts. Strategies such as proactive tax planning and maintaining accurate financial records were found to mitigate these impacts. Recommendations include improving the efficiency of audit processes by tax authorities and providing clearer guidelines to businesses for better audit preparedness.
Related Project Materials
AN ANALYSIS OF THE USE OF TESTIMONY AS A MEANS OF PROOF IN NIGERIA
ABSTRACT
It is natural and common in human society to have between individuals a kind of dispute that may probably arise. Islamic Law had...
AN ASSESSMENT OF INNOVATIONS IN VOCATIONAL TRAINING FOR CAREERS IN DATA SCIENCE AND ANALYTICS
ABSTRACT: Innovations in vocational training for careers in data science and analytics are essential in preparing a skilled workforce for the...
An Assessment of Electoral Violence and Women’s Political Aspirations: A Study of Gusau Local Government, Zamfara State
Chapter One: Introduction
1.1 Background of the Study
Electoral violence has been a significant...
An appraisal of the impact of continuous professional development on early childhood education teacher performance in Gwale Local Government Area, Kano State
Background of the Study:
Continuous professional development (CPD) is recognized as a vital mechanism for enhancing teacher...
An appraisal of interactive brand experiences on customer loyalty: A case study of a fashion label in Kano, Nigeria.
Background of the study
Interactive brand experiences have become pivotal in fostering customer loyalty, particularly...
THE IMPACT OF HEALTH INSURANCE SCHEME ON THE AGED CITIZENS OF NIGERIA
Background Of The Study
Health services are deemed unsatisfactory and inadequate in addressing the publ...
Comparative Study of Gamified and Traditional Learning Approaches in Secondary Schools in Katsina Local Government Area, Katsina State
Background of the study
The evolution of education has brought about diverse approaches to teaching and learning. Tradition...
An appraisal of international public health governance in managing pandemics: A study of WHO responses in Abuja
Background of the Study:
International public health governance has taken center stage in the management of pandemics, with the World Hea...
An Investigation of Statistical Relationships Between Pesticide Exposure and Chronic Respiratory Diseases in Borno State
Background of the Study
Pesticides are widely used in agricultural and industrial settings, but their long-term health effects, particula...
An Evaluation of the Role of Anti-Corruption Campaigns in Promoting Accountability in Borgu LGA, Niger State: A Case Study of Grassroots Mobilization
Background of the Study
Anti-corruption campaigns have become integral to the fight for political accountability in Nige...
