Examining the Challenges of Double Taxation Among SMEs in Otukpo LGA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Small and Medium Enterprises (SMEs) play a vital role in the economic development of Otukpo LGA. However, SMEs often face significant challenges related to double taxation, where they are subjected to multiple tax obligations by different tiers of government. This can result in financial strain on these businesses, potentially hindering their growth and sustainability. This study aims to examine the extent of double taxation faced by SMEs in Otukpo LGA and explore the challenges associated with navigating complex tax systems.
Statement of the Problem
SMEs in Otukpo LGA are often burdened by multiple layers of taxation, leading to increased operational costs and reduced profitability. The issue of double taxation, where businesses are taxed by both local and state governments on the same income, creates an environment of tax confusion and discourages entrepreneurial activity. This study will examine the challenges SMEs face due to double taxation and its impact on their growth.
Aim and Objectives of the Study
Aim: To assess the challenges of double taxation faced by SMEs in Otukpo LGA.
Objectives:
-
To identify the types of taxes that contribute to double taxation among SMEs in Otukpo LGA.
-
To examine the impact of double taxation on the financial performance and sustainability of SMEs in Otukpo LGA.
-
To propose recommendations for resolving double taxation challenges for SMEs in Otukpo LGA.
Research Questions
-
What types of taxes contribute to double taxation among SMEs in Otukpo LGA?
-
How does double taxation affect the financial performance and sustainability of SMEs in Otukpo LGA?
-
What strategies can be implemented to reduce or eliminate double taxation challenges for SMEs in Otukpo LGA?
Research Hypothesis
-
H₀: Double taxation does not significantly affect the financial performance of SMEs in Otukpo LGA.
-
H₀: There is no significant relationship between double taxation and the sustainability of SMEs in Otukpo LGA.
-
H₀: Strategies to reduce double taxation will not significantly improve the financial performance of SMEs in Otukpo LGA.
Significance of the Study
This study will provide valuable insights into the challenges of double taxation faced by SMEs in Otukpo LGA, offering recommendations for policy changes that can support the growth and sustainability of these businesses.
Scope and Limitation of the Study
The study will focus on double taxation issues among SMEs in Otukpo LGA. Limitations may include difficulties in accessing data on the specific tax burdens faced by SMEs and the complexity of distinguishing between different types of taxation.
Definition of Terms
-
Double Taxation: The imposition of tax by two or more tax authorities on the same income or transaction.
-
SMEs (Small and Medium Enterprises): Businesses that are independently owned and operated, and are small in size, often contributing significantly to local economies.
-
Tax Burden: The financial cost imposed on businesses through taxation.
Related Project Materials
An appraisal of the effects of project-based learning on STEM student retention in Kuje LGA, FCT Abuja
Background of the Study
Project-based learning (PBL) has increasingly been recognized as an innovative instructional appro...
THE ROLE OF THE STATE IN ADDRESSING UNEMPLOYMENT IN NIGERIA: AN ASSESSMENT OF NATIONAL DIRECTORATE OF EMPLOYMENT (NDE) IN GOMBE LOCAL GOVERNMENT AREA OF GOMBE STATE
ABSTRACT
Unemployment’s problem affects youths from a broad spectrum of socio-economic backgrounds, both educated and less educated...
The impact of technology adoption on labor productivity in Nigeria: An evaluation of ICT initiatives in Kano State
Background of the Study :
Technology adoption, particularly in the realm of information and communication technology (ICT), has the poten...
An assessment of policy challenges in implementing bilingual education in Igbo regions
Background of the Study
Bilingual education has emerged as a critical strategy for preserving indigenous languages while e...
An appraisal of moral education’s role in shaping students’ understanding of law and order in Ilorin East LGA, Kwara State
Background of the Study
Moral education serves as a cornerstone in shaping students’ understanding of law and order, particularly i...
A Study on the Effect of Interest Rates on Savings Behavior in Nigeria
Background of the Study
Interest rates are a fundamental aspect of financial decision-making, influencing both borrowing a...
CRITICAL APPRAISAL OF TA’AZIR PUNISHMENTS UNDER THE KATSINA STATE SHARI’A PENAL CODE LAW, 2001
ABSTRACT
The topic “Critical Appraisal of Ta’azir Punishments under the Katsina State Shari’a Penal Code Law, 2001&rdqu...
An appraisal of debit fee optimization on enhancing customer satisfaction in banking: a case study of United Bank for Africa
Background of the Study
Customer satisfaction in banking is closely linked to the transparency and fairness of fee structur...
AN APPRAISAL OF THE LEGAL REGIME FOR THE PROTECTION OF CIVILIANS AND CIVILIAN OBJECTS IN ARMED CONFLICTS
ABSTRACT
Conflicts are inevitable in our society today. Modern armed conflicts have civilians as majority of casualties despite of course...
Design of an IoT‐Based Smart Smartwatch‐Based Health Monitoring System for University Athletes in Yola North LGA, Adamawa State
Background of the study
University athletes in Yola North LGA demand high-performance levels and continuous health monitor...
