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 assessment of healthcare service quality in public hospitals in Edo State
Background of the Study
Healthcare service quality is a crucial indicator of overall health system performance, impacting patient outcome...
A CRITICAL REVIEW OF TOTAL QUALITY MANAGEMENT AND IMPACT ON CUSTOMER RETENTION AND SATISFACTION
BACKGROUND TO THE STUDY
Total quality management is a company-wide management concept that focuses on continually improv...
A Study of the Challenges of ERP Implementation in Nigerian Businesses: A Case Study of Firms in Nasarawa State
Background of the Study
Enterprise Resource Planning (ERP) systems integrate core business processes into a unified system, enhancing ope...
The Role of Films in Addressing the Challenges of Internally Displaced Persons in Ngala Local Government Area, Borno State
Chapter One: Introduction
1.1 Background of the Study
ABSTRACT This study investigated the impact of external debt on economic growth in selected Sub-Sahara African Countries using time serie...
Background of the Study Antibiotic resistance (ABR) is one of the most pressing public health threats globally, as the o...
Background of the Study Teamwork is a fundamental element in healthcare delivery, particularly in emergency settings whe...
Background to the study Addiction to the internet has been a significant contributor to many problems over the years, pa...
Background of the Study Border closure policies are often employed by governments as a strategic measur...
Background of the Study Sokoto State, located in the northwestern part of Nigeria, is known for its cultural heritage an...
IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH IN SELECTED SUBSAHARA AFRICAN COUNTRIES
An Appraisal of Antibiotic Resistance Trends in Bacterial Infections in Gombe State
The Impact of Teamwork Among Emergency Nurses on the Quality of Patient Care in Kaduna State
THE IMPACT OF SHYNESS AND BODY DYSMORPHIA ON INTERNET ADDICTION
An Investigation of the Impact of Border Closure Policies on Regional Peace: A Case Study of Illela Local Government Area, Sokoto State
An Investigation into the Impact of Water Sports Tourism on Local Communities in Sokoto State
