IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 9 NO. 4 2023
DOI: https://doi.org/10.56201/jafm.v9.no4.2023.pg84.100

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Effect of Multiple Taxation on Performance of SMEs in Bayelsa State, Nigeria

Ihenyen Joel Confidence (PhD), Ayodeji Temitope Olusayo, Benson Tariere Naomi Jonny

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Abstract

The goal of this research is to find out how Bayelsa State's SMEs are affected by the state's numerous taxes. There are numerous taxes, levies, and charges that make up the bulk of the cost. An investigation into the impact of different taxes on small business investment is the subject of this study. A survey with a sample of 100 small and medium-sized businesses served as the basis for this investigation. A questionnaire was used to gather information. The data was analysed using simple percentages and frequencies, and the study hypotheses were tested using ANOVA. According to the study, an SME's investments are harmed by various taxes. Furthermore, there is a strong link between the amount of investment made by small businesses and their ability to pay taxes. When imposing taxes on small and medium-sized enterprises (SMEs), the government should consider increasing their capital allowances. When designing tax policies, the government should consider the size of businesses in Bayelsa State, as well as provide uniform tax rules.

keywords:

Investments, Multiple Taxations, Small and Medium Enterprises

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References:

Adams, A. (2001). Public Sector Accounting and Finance Made Simple, Lagos:
Corporate Publishers Ventures.

Adebisi, J.F. and Gbegi, D.O. (2013). Effect of multiple taxations on small and medium
scale business enterprise performance. (A study of West African ceramics Ajaokuta,
Kogi State.

Asika, N. (1991). Research Methodology in the Behavioral Sciences Lagos: Longman
Nigeria PLC. 28P.

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