Assessing the Impact of Double Taxation on Business Sustainability in Gashua LGA
- Project Research
- 1-5 Chapters
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- NGN 5000
Background of the Study
Double taxation refers to the taxation of the same income, assets, or financial transactions by multiple tax authorities, which is a common issue for businesses in many regions, including Gashua LGA. In this local government area, businesses often face tax obligations from both the local and state governments, leading to increased operational costs. This study seeks to examine how double taxation impacts the sustainability of businesses in Gashua LGA. Understanding the financial strain caused by double taxation can offer insights into potential reforms that can support business growth and development in the region.
Statement of the Problem
Businesses in Gashua LGA are confronted with the challenge of double taxation, which leads to increased financial burdens and, in some cases, reduced business sustainability. The inefficiency in tax policy implementation, coupled with the overlapping tax jurisdictions, hampers the ability of local businesses to remain competitive. This study will explore how double taxation affects business sustainability, considering financial performance, growth potential, and long-term viability.
Aim and Objectives of the Study
Aim: To assess the impact of double taxation on business sustainability in Gashua LGA.
Objectives:
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To identify the tax obligations that contribute to double taxation among businesses in Gashua LGA.
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To examine the financial impact of double taxation on the sustainability of businesses in Gashua LGA.
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To propose recommendations to mitigate the effects of double taxation on business sustainability in Gashua LGA.
Research Questions
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What are the main tax obligations that contribute to double taxation among businesses in Gashua LGA?
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How does double taxation affect the financial sustainability of businesses in Gashua LGA?
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What measures can be implemented to reduce the negative impact of double taxation on business sustainability in Gashua LGA?
Research Hypothesis
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H₀: Double taxation does not significantly affect the financial sustainability of businesses in Gashua LGA.
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H₀: The presence of double taxation does not significantly reduce the growth potential of businesses in Gashua LGA.
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H₀: Proposed measures to mitigate double taxation will not significantly improve business sustainability in Gashua LGA.
Significance of the Study
This study will contribute to a better understanding of the challenges businesses face due to double taxation in Gashua LGA. The findings will inform policymakers and local business owners about potential reforms to improve the business environment and foster sustainability.
Scope and Limitation of the Study
The study will focus on the impact of double taxation on business sustainability in Gashua LGA. Limitations include the availability of financial data from businesses and the complexity of identifying the full scope of tax obligations faced by businesses.
Definition of Terms
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Double Taxation: The imposition of tax by multiple tax authorities on the same income, transaction, or asset.
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Business Sustainability: The ability of a business to maintain its operations, profitability, and growth over time.
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Tax Obligations: The financial responsibilities that businesses are required to fulfill under tax law.
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