ABSTRACT
This research work was carried out to examine the effect of taxation on manufacturing firms. The specific objective of this study aims to is examine the effect of direct taxes on the annual turnover of manufacturing concern and their ability to make profit, dividend and plough back part of their profit, find out the effects of indirect taxes on the manufacturing concerns in their ability to procure machinery and equipment and also raw-materials, investigate the effect of taxes on the annual turnover of manufacturing concerns and their ability to make profit and assess the effort by the government to ensure capacity utilization and efficiency in production. A sample size of 30 was adopted. The findings of the study reveals that direct taxes affect the annual turnover of manufacturing company ability to make profit, dividend and plough back part of their profit. Also, indirect taxes on the manufacturing affect their ability to procure machinery and equipment and also raw-materials. Furthermore, taxes influence the annual turnover of manufacturing concerns and their ability to make profit. Lastly, the effort by the government to ensure capacity utilization and efficiency in production influence the industry. The study thereby conclude that more tax incentives should be granted to companies as a way of fostering and encouraging the operators of the sector so as the reverse the current trends. Also, the Nigeria tax system should be reformed both in terms of legal and administrative processes in orderto make tax administrative machinery dynamic and in line with global best practices.
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