The effect of multiple taxation on business survival in Eket Local Government Area, Akwa Ibom State
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Background of the Study
Multiple taxation refers to the imposition of various tax types on business operations, which can significantly affect their survival and growth. In Eket Local Government Area, small and medium enterprises often face a complex tax environment that compromises financial stability. Increased tax burdens may reduce profit margins and limit the ability to reinvest in business growth (Ibrahim, 2023). The interplay of federal, state, and local taxes creates challenges for business owners who must navigate multiple regulatory frameworks. Although evolving taxation policies are intended to boost government revenue, they may also lead to unintended negative impacts on the business environment (Obi, 2024). Understanding these effects is critical for informing policy reforms. Businesses in Eket have reported difficulties in managing cumulative tax liabilities, resulting in reduced competitiveness (Eze, 2025).
Statement of the Problem
Businesses in Eket Local Government Area are increasingly challenged by the burden of multiple taxation, which has led to decreased profitability and operational sustainability. The complex tax regime imposes significant financial strain on business owners, making it difficult for them to invest in growth initiatives. The adverse effects of cumulative tax obligations have created uncertainties regarding business survival (Adamu, 2023). This study aims to investigate the specific tax-related challenges faced by businesses in Eket and identify the underlying factors contributing to diminished competitiveness and survival.
Objectives of the Study:
To evaluate the impact of multiple taxation on business profitability.
To assess how tax burdens affect business survival and growth.
To recommend strategies for mitigating adverse tax effects on businesses.
Research Questions:
How does multiple taxation influence business profitability in Eket?
What challenges do business owners face due to cumulative tax obligations?
What policy measures can mitigate the negative effects of multiple taxation on business survival?
Research Hypotheses:
H1: Multiple taxation significantly reduces business profitability.
H2: Cumulative tax obligations negatively impact business survival.
H3: Implementation of tax relief measures improves business sustainability.
Significance of the Study
This study is significant as it sheds light on the detrimental effects of multiple taxation on business survival in Eket. The findings will inform tax policy reforms and guide business owners in developing strategies to cope with tax burdens. The research offers vital insights for policymakers and economic stakeholders, contributing to more equitable tax systems (Udo, 2024).
Scope and Limitations of the Study:
This study is limited to the examination of multiple taxation and its effects on business survival in Eket Local Government Area. It focuses solely on tax-related factors without incorporating other external influences.
Definitions of Terms:
Multiple Taxation: The imposition of various tax types on a single business entity.
Business Survival: The ability of a business to sustain operations and profitability over time.
Eket Local Government Area: The administrative region in Akwa Ibom State where the study is conducted.
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