THE EFFECT OF TAXATION ON MICRO-ENTERPRISES IN KURA LGA
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Background of the Study
Micro-enterprises are critical to the economic development of many localities in Nigeria, particularly in regions such as Kura LGA. These small businesses play a vital role in providing employment, generating income, and fostering local economic growth. However, the impact of taxation on micro-enterprises is often a topic of debate. While taxes are crucial for the revenue generation of local governments, they can also impose financial burdens on small businesses that are still in the process of growth and stabilization. This study will examine the effect of taxation on the performance and sustainability of micro-enterprises in Kura LGA, focusing on how taxation influences business operations, profitability, and growth.
Statement of the Problem
In Kura LGA, micro-enterprises face several challenges, including limited access to capital, inadequate infrastructure, and high operating costs. The role of taxation in either alleviating or exacerbating these challenges remains unclear. Taxation can serve as a source of revenue for local governments but may also strain the financial stability of micro-enterprises if not properly structured. This study aims to investigate the effect of taxation on the performance of micro-enterprises in Kura LGA and understand the relationship between tax policies and business sustainability in the region.
Aim and Objectives of the Study
Aim: To assess the effect of taxation on the performance and sustainability of micro-enterprises in Kura LGA.
Objectives:
- To analyze how taxation affects the profitability of micro-enterprises in Kura LGA.
- To examine the challenges faced by micro-enterprises in Kura LGA regarding taxation.
- To explore potential tax policy reforms that could improve the sustainability of micro-enterprises in Kura LGA.
Research Questions
- How does taxation affect the profitability of micro-enterprises in Kura LGA?
- What challenges do micro-enterprises in Kura LGA face in complying with tax policies?
- What tax policy reforms can support the growth and sustainability of micro-enterprises in Kura LGA?
Research Hypothesis
- H₀: Taxation does not significantly affect the profitability of micro-enterprises in Kura LGA.
- H₀: The challenges faced by micro-enterprises in Kura LGA in relation to taxation are not significantly related to their business sustainability.
- H₀: Tax policy reforms will not significantly improve the sustainability of micro-enterprises in Kura LGA.
Significance of the Study
This study will provide valuable insights into the impact of taxation on micro-enterprises in Kura LGA. The findings will be important for local government authorities, policymakers, and business owners, helping them understand the challenges faced by small businesses and the potential for tax reforms to improve their sustainability and growth.
Scope and Limitation of the Study
The study will focus on micro-enterprises in Kura LGA, with a particular focus on the impact of taxation. Limitations may include the availability of data from micro-enterprise owners and their willingness to disclose financial information, as well as challenges related to sample size and geographic coverage.
Definition of Terms
- Micro-Enterprises: Small businesses that typically have fewer employees and limited capital, often operating within a specific local market.
- Taxation: The system of collecting taxes from individuals and businesses to fund government services and development programs.
- Profitability: The ability of a business to generate a profit relative to its expenses and revenue.
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