The Effects of Multiple Taxation on Investment in Small and Medium Scale Enterprises in Enugu State, Nigeria

Okolo, U. Ebere and Okpalaojiego, Eunice C. and Okolo, Chimobi V. (2016) The Effects of Multiple Taxation on Investment in Small and Medium Scale Enterprises in Enugu State, Nigeria. International Journal of Economics and Management, 10 (1). pp. 378-385. ISSN 1307-6892

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Abstract

Abstract—Some investors prefer to keep their money in the bank rather than invest in Small and Medium Enterprise (SME) due to the high cost of running small and medium scale enterprise in Enugu State. This cost primarily concerns multiple-taxation, enormous tax burdens, levies and charges. This study examines the effect of multiple-taxation on the investments in SMEs. The study used survey design with SME population of 80. Questionnaire was used to collect data. Simple percentages/frequencies were used to analyze the data and the research hypotheses were tested with ANOVA. It was found that multiple taxation has negative effect on SMEs investment. Furthermore, the relationship between SMEs investment and its ability to pay tax is significant. The researcher recommends that government should develop a tax policy that considers the enhancement of SMEs’ capital allowance when imposing taxes. Government should also consider a tax policy that encourages investment in SMEs by consolidating all taxes in one slot and latter disseminate to various government purses rather than having many closely related but different taxes at the same time. Keywords—Investments, multiple taxation, small and medium enterprises.

Item Type: Article
Subjects: L Education > L Education (General)
Divisions: Faculty of Arts > Faculty of Law > Faculty of Management and Social Sciences > Faculty of Education
Depositing User: mrs chioma hannah
Date Deposited: 26 Jul 2021 14:48
Last Modified: 26 Jul 2021 14:48
URI: http://eprints.gouni.edu.ng/id/eprint/3026

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