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EFFECT OF DOUBLE AND MULTIPLE TAXATION ON SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA: A CASE STUDY OF CADBURY

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 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 70 ::   Attributes: Questionnaire, Data Analysis,abstract, table of content, references ::   118 people found this useful

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1.0 INTRODUCTION

1.1 BACKGROUND OF STUDY

Any state has exclusive competence in the field of taxation, under which it is unrestrained to establish and collect taxes in the territory of the sovereign. Tax sovereignty allows each country the freedom to establish a tax system which they established on its territory, to define taxes that make up the system, specify the subjects of taxation, to determine the tax base, imposing size quotas, setting time limits for payment, to grant tax exemptions to establish tax penalties, to establish remedies and procedure tax dispute resolution, etc. (Condor, 2009) International double taxation a tax report implies the existence of a strange elements. That is, because the topic subject to taxation (natural or legal) is a non-resident, would mean that he should be taxed on the territory of another State in accordance with the rules for the taxation of his State of residence. Apply directly to the same tax and taxable materials for the same period of time by the public authorities of different countries, the phenomenon of international double taxation for tax purposes. The phenomenon of double taxation occurs, not because of the different structures of the tax systems, but due to the distinct concepts that underlie the imposition. (Buziernescu, 2009) In general, where the phenomenon (legal or economic double taxation) appear, are determined by the fact that Governments apply taxes on the income of those territories by the subjects of taxation, local and foreign, and furthermore subject to taxes and income from its own citizens abroad. The majority of individuals and legal entities engaging in obtaining income or own real property in several countries, the free circulation of capital and became a reality for the majority of economic agents and not only. (Radulescu, 2011). It appears so, naturally, the question of establishing the public authority competent to carry out the imposition of income and wealth, respectively held by natural or legal persons of a State in the territory of another State. Since the imposition of taxes is a duty of each State, and the settlement and collection is the competence of the legislature of that State can be reached from the situation as certain income is subject to taxation in the country of origin, as the destination of the income in question. The same can happen with a particular wealth: to claim tax on her and the State in whose territory the property is subject to taxation as the residing owner of the property in question (or whose citizen they are). For example, selling a property situated in another Member State may be liable to tax in that State, but also in the State of residence of the subject of taxation. This means, basically, a double taxation of the same taxable materials belonging to the same topic, for the same period of time, which is obviously biased. Resolution of this problem can be done only by an agreement made between the interested States to establish for each category of income and wealth that is competent to levy tax. The development of foreign trade in value of the materials and international economic cooperation, among other measures required and to find appropriate means in order to avoid double taxation of operations with revenue made of outbound, which ensure their normal development and flourishing reciprocal partners in promoting and improving international cooperation in further. Since double and multiple taxation affects the efficiency and competitiveness of exports of goods, external, international elimination of double taxation in order to represent a necessity to ensure an improvement of the economic relations at the international level. Why international elimination of double taxation is a concern of all States and amid its legal abolition is the development of international tax conventions called Conventions for the avoidance of double taxation. Double and multiple taxation tax may constitute an obstacle to optimal allocation of capital investments and productive activities and precisely why it is believed that removing them is a fundamental economic policy side and the tax of Governments

1.2 STATEMENT OF PROBLEM

Although there was a general perception that tax is an important source of fund for development of the economy and provision of social services, the problems faced are in the area of negative relationship between taxes and the business’ ability to sustain itself and to expand, SMEs are faced with the problem of high tax rates, double and multiple taxation, complex tax regulations and lack of proper enlightenment or education about tax related issues. Not minding other challenges that SMEs are facing in other developing countries like Nigeria; inadequate capital, poor technical and managerial skills, environmental effects and the government regulations which is most affecting the operation of SMEs in Nigeria especially this issue of multiple taxation which is a worm eating deeply and the large chunk of revenues generated by these SMEs for their growth and survival. These have led to increase in record of dearth of Small and Medium Scale Enterprise (SMEs)

1.3 AIM AND OBJECTIVES OF THE STUDY

The main aim of the research work is to determine the effect of double and multiple taxations on small and medium scale enterprises in Nigeria. Other specific objectives of the study are:

  1. to determine the relationship between the influence of double and multiple taxation on small and medium scale enterprises in Nigeria
  2. to determine the extent to which double and multiple taxation has affected Cadbury Nigeria plc
  3. to determine the effect of double and multiple taxation on the profitability of SMEs
  4. to determine the causes of double and multiple taxation in Nigeria
  5. to proffer solution to the above problem

1.4 RESEARCH QUESTIONS

The study came up with research questions so as to ascertain the above stated objectives of the study. The research questions for the study are:

  1. What is the relationship between the influence of double and multiple taxations on small and medium scale enterprises in Nigeria?
  2. To what extent to have double and multiple taxations affected Cadbury Nigeria plc?
  3. What is the effect of double and multiple taxation on the profitability of SMEs?
  4. What are the causes of double and multiple taxations in Nigeria?

1.5 STATEMENT OF RESEARCH HYPOTHESIS

H0: there is no significant relationship between the influence of double and multiple taxations on small and medium scale enterprises in Nigeria

H1: there is significant relationship between the influence of double and multiple taxations on small and medium scale enterprises in Nigeria

1.6 SIGNIFICANCE OF STUDY

The study on the effect of double and multiple taxations on small and medium scale enterprises in Nigeria will be of immense benefit to Cadbury Nigeria plc in the sense that the study will determine the effect of double and multiple taxation on the profitability level in Cadbury Nigeria plc. The study will serve as a repository of information to other researchers that desire to carry out similar research on the above topic. Finally the study will contribute to the body of existing literature and knowledge in this field of study and provide a basis for further research

1.7 SCOPE OF STUDY

The study on the effect of double and multiple taxations on small and medium scale enterprises will focus on Cadbury Nigeria plc because it is closer to the researchers and it is also a big tax paying organization. The study will cover areas like double and multiple taxations, the relationship between the influence of double and multiple taxations on the small and medium scale enterprises in Nigeria.

1.8 LIMITATION OF STUDY

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work

1.9 DEFINITION OF TERMS

Taxation: Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax on small and medium scale enterprises

Multiple taxation: Multiple taxation occurs when a single amount of money is taxed more than once, often by two or more different authorities in a way that may be unfair or illegal

Vat: value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale

 


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Paper Information

Format:ms word
Chapter:1-5
Pages:70
Attribute:Questionnaire, Data Analysis,abstract, table of content, references
Price:₦3,000
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