An examination of the economic effects of multiple taxation on traders in Owerri North Local Government Area, Imo State.
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Background of the study:
Multiple taxation in Owerri North has become a contentious issue, impacting traders’ profitability and overall economic performance. Traders in the area are often subject to various forms of taxes imposed by different levels of government, which can lead to financial strain and reduced competitiveness (Chukwuemeka, 2023; Nwankwo, 2024). This complex tax environment not only diminishes disposable income but also complicates business operations and planning. Recent research indicates that excessive taxation can discourage entrepreneurial activity and impede local economic growth (Ekwueme, 2024). In this context, the study examines how multiple taxation affects traders by analyzing tax structures, compliance burdens, and their overall impact on business sustainability. By drawing on empirical data and theoretical frameworks, the research aims to elucidate the economic consequences of multiple taxation on traders in Owerri North, while proposing measures for tax reform that could enhance the trading environment and promote sustainable economic development.
Statement of the problem:
Traders in Owerri North face the challenge of multiple taxation, which erodes their profits and hinders business growth. The multiplicity of tax obligations creates a complex compliance environment that increases operational costs and discourages entrepreneurial ventures. This situation undermines the competitiveness of local traders, ultimately affecting the broader economic stability of the region. There is a pressing need to investigate the extent of these effects and propose policy interventions that can streamline the taxation process and alleviate the burden on traders.
Objectives of the study:
1. To assess the economic impact of multiple taxation on traders.
2. To identify the challenges and costs associated with multiple tax obligations.
3. To recommend policy measures aimed at tax reform and improved business sustainability.
Research questions:
1. What are the economic effects of multiple taxation on traders in Owerri North?
2. What challenges do traders face in complying with various tax requirements?
3. How can tax policies be reformed to reduce the burden on traders?
Research Hypotheses:
1. Multiple taxation significantly reduces the net income of traders.
2. Complex tax systems hinder the operational efficiency of local traders.
3. Tax reforms can improve the economic outcomes for traders in Owerri North.
Significance of the study:
This study is significant as it provides an in-depth analysis of the economic burden of multiple taxation on traders, offering insights for policymakers to design a more streamlined and supportive tax framework that promotes local business growth and economic resilience.
Scope and limitations of the study:
The study is limited to the examination of the economic effects of multiple taxation on traders in Owerri North Local Government Area, Imo State and does not cover other taxation forms or regions.
Definitions of terms:
• Multiple taxation: The imposition of more than one tax on the same income or transaction by different governmental agencies.
• Traders: Individuals engaged in commercial activities involving the exchange of goods and services.
• Tax reform: Changes made to the tax system aimed at improving efficiency, fairness, and economic performance.
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