2.1. REVIEW OF RELATED LITERATURE
Taxation is one of the major fiscal policies the government of any nation such as Nigeria can use to achieve economic stability and in the financing of capital expenditure. Various taxes are levied upon the income, wealth or gain of an individual, family and business firm by the government for the purpose or benefits of the general public.
Tax by a simple definition is a financial charge or other levy imposted upon a tax payer which could be an individual or a legal entity from the point of view of the student researcher by a state such that failure to pay is punishable by law. Thus, taxation cannot be regarded as a voluntary payment or donation but an enforced contribution exacted pursuant to legislative authority. In modern taxation system such as Nigeria, taxes are levied, in money which could be use for myriads of functions or purpose such ay a expenditure on public order, protection of lives and property, economic infrastructure cures such as roads, public works, social engineering and the operation of government itself (Carrol, et al 2000).
The taxes collected by the government no doubt emanate from varying sources ranging from personal income tax, company income tax, capital gain tax, property tax, education, tax, task but to list a few.
The Nigerian government in attempt to raise revenue and enhance the economic development of Nigeria has subjected many firms to multiple taxations which they are mandated or made compulsory to pay irrespective of the sector the business firms operate or else take the wrath of the law A survey carried out by the Manufacturers Association of Nigerian (MAN1) and (Centre for International Private Enterprise ICIPE) identified multiple taxation as the bane of private sector business growth in Nigeria (Anyamvu, 2012). The survey established the relationship between multiple taxations in the pilot state across the three tiers of government and re-affirmed its negative effects to private sector growth and businesses in Nigeria.
According to the survey, it was established that multiple taxation could lead to divestment as well as jeopardize foreign direct investment coming into Nigeria, while adversely affecting the Competitions of
existing businesses and their survival, Moreover it was also established that currently most businesses in Nigeria consider the tax environment as unfriendly and disincentive to business, stressing that it engenders loss of man hour to both the government and private businesses.
According to Osagie (2012) tax environment inNigeria especially the policy on multiple taxation increases the cost of doing business in the country. As a matter of fact, some business including manufacturing companies have shut down production while in some cases, have relocated their factories to other West African countries which are considered to be more investment friendly. Against this back drop, this project examines the effects of multiple taxation on business survival in Nigeria.
OTHER SIMILAR SME/ENTREPRENEURSHIP PROJECTS AND MATERIALS
A CRITICAL ANALYSIS OF THE ROLE OF BANK OF INDUSTRY TOWARDS THE DEVELOPMENT OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY The study of the role of government agencies towards the development of small scale enterprises is quite interesting. These enterprise have a...Continue reading »
AN APPRAISAL OF MATERIAL MANAGEMENT CONCEPT AS A STRATEGY FOR ACHIEVING HIGHER PRODUCTIVITY IN NIGERIAN BOTTLING COMPANY
CHAPTER ONE INTRODUCTION 1.1 Background of the Study The Need for Appraisal of Material Management Concepts as a strategy for achieving higher productivity and to make up with the growing complexi...Continue reading »
AN ANALYSIS OF THE IMPACT OF NAPEP ON ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA (A CASE STUDY OF ABIA STATE)
CHAPTER ONE INTRODUCTION 1.1. Background of the Study Poverty and unemployment represent the biggest challenges to government in Nigeria. Unemployment rate continue to rise alarmingly, poverty has...Continue reading »
AN ANALYTICAL STUDY OF CREDIT FACILITIES TO SMALL SCALE FARMERS IN NIGERIA (A STUDY OF SMALL-SCALE FARMERS IN OHAOFIA LOCAL GOVERNMENT AREA OF ABIA STATE)
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY Agriculture according to Longman Dictionary of Contemporary English (New Edition) is the science or practice of farming. Agriculture has a ke...Continue reading »
EFFECT OF CAPITAL ALLOWANCES ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (A CASE STUDY OF SELECTED CONSTRUCTION COMPANIES IN NIGERIA)
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Historically, Nigeria’s experience of taxation predates the colonial period. The Hausas of Northern Nigeria were paying taxes, though in...Continue reading »
ENTREPRENEURIAL EDUCATION AS A TOOL FOR REDUCING UNEMPLOYMENT IN NIGERIA
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Entrepreneurial education is the incorporation into the student syllabus steps involved in starting a new business based on a recognized business...Continue reading »
What are looking for today?
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
31,559 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
20,075 people found this useful
PARTY SYSTEM AND NIGERIA POLITICAL DEVELOPMENT
16,531 people found this useful
FACTORS AFFECTING LANGUAGE CHOICE IN A MULTILINGUAL SOCIETY
16,128 people found this useful
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
15,849 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
15,785 people found this useful