Determinants of Tax Evasion Among SMEs in Yola North LGA
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Background of the Study
Tax evasion is a global challenge that undermines government revenue, limiting resources available for public services and infrastructure development. Small and Medium Enterprises (SMEs), as significant contributors to the economy, often face tax-related issues, ranging from inadequate understanding of tax laws to deliberate evasion. In developing economies like Nigeria, SMEs play a critical role in job creation and economic growth. However, tax compliance among these businesses remains low, with evasion becoming a common practice.
In Yola North LGA, SMEs form the backbone of the local economy, engaging in diverse activities such as trade, manufacturing, and services. Despite their importance, many SMEs evade taxes due to high tax rates, inadequate government support, and a lack of transparency in tax administration. Understanding the determinants of tax evasion among SMEs in Yola North LGA is crucial for developing policies that encourage compliance and foster economic growth. This study seeks to investigate the factors influencing tax evasion among SMEs in Yola North LGA and propose actionable solutions.
Statement of the Problem
Tax evasion among SMEs in Yola North LGA has reached concerning levels, limiting the local government’s ability to generate revenue and support development initiatives. High tax rates, poor enforcement, and limited awareness are some of the factors contributing to this challenge. Without addressing these determinants, the LGA risks losing significant revenue and stalling its economic growth.
Aim and Objectives of the Study
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To identify the factors influencing tax evasion among SMEs in Yola North LGA.
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To examine the relationship between these factors and the prevalence of tax evasion.
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To suggest measures for improving tax compliance among SMEs.
Research Questions
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What are the key determinants of tax evasion among SMEs in Yola North LGA?
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How do these determinants influence the prevalence of tax evasion in the area?
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What measures can be implemented to reduce tax evasion among SMEs?
Research Hypotheses
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There is no significant relationship between high tax rates and tax evasion among SMEs in Yola North LGA.
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Government support does not significantly influence tax compliance among SMEs.
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Awareness of tax laws does not significantly affect tax evasion among SMEs.
Significance of the Study
This study provides insights into the factors driving tax evasion among SMEs in Yola North LGA. The findings will assist policymakers and tax authorities in developing targeted interventions to improve compliance and enhance revenue collection.
Scope and Limitation of the Study
The study focuses on SMEs in Yola North LGA, examining the determinants of tax evasion and proposing strategies to address the issue. Limitations include potential respondent bias and challenges in obtaining accurate data.
Definition of Terms
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Tax Evasion: The illegal act of avoiding tax obligations through misrepresentation or non-disclosure.
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Small and Medium Enterprises (SMEs): Businesses with limited capital investment and workforce, operating in various sectors.
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Tax Compliance: Adherence to tax laws and regulations.
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