An Evaluation of Transport Sector Taxation and Its Impact on Business Performance: A Case Study of Abuja Bus Service
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Background of the Study
Taxation in the transport sector is an essential revenue source for governments but can significantly influence the performance and sustainability of businesses. In Nigeria, transport companies face multiple taxes, including value-added tax (VAT), vehicle licensing fees, and corporate income tax, which can affect operational efficiency and profitability (Eze, 2023).
The Abuja Bus Service, a key player in the public transportation sector, operates under stringent tax obligations, which impact its financial performance. This study evaluates the effect of taxation policies on the business performance of Abuja Bus Service, examining tax burdens, compliance costs, and profitability trends.
Statement of the Problem
High taxation levels can pose significant challenges for transportation companies, leading to increased operational costs and reduced profitability. For the Abuja Bus Service, balancing tax compliance with financial performance remains a critical issue (Ojo & Adebayo, 2024).
While taxation is necessary for public revenue generation, excessive tax burdens may discourage business growth and sustainability. This study addresses the gap in understanding the specific impact of transport sector taxation on business performance in Nigeria.
Objectives of the Study
- To assess the impact of taxation on the financial performance of Abuja Bus Service.
- To identify challenges associated with tax compliance in the transport sector.
- To propose strategies for optimizing tax policies to enhance business performance.
Research Questions
- How does taxation impact the financial performance of Abuja Bus Service?
- What challenges does Abuja Bus Service face in complying with tax policies?
- What strategies can optimize tax policies to support business performance in the transport sector?
Research Hypotheses
- Taxation significantly impacts the financial performance of Abuja Bus Service.
- Tax compliance challenges affect the operational efficiency of Abuja Bus Service.
- Optimized tax policies can enhance the performance of transportation businesses.
Scope and Limitations of the Study
The study focuses on the taxation policies and financial performance of Abuja Bus Service from 2023 to 2025. Limitations include the availability of tax-related data and changes in government tax policies.
Definitions of Terms
- Taxation: The imposition of financial charges or levies by the government on individuals or businesses.
- Business Performance: A measure of a company’s financial health, operational efficiency, and profitability.
- Tax Compliance: The adherence of businesses to tax laws and regulations.
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