The mortality rate of Small and medium enterprises which make up 95% of the economy is very high and these Small and medium enterprises serve as source of employment generation; innovation, competition, and economic dynamism in the development of Nigerian Economy. Tax policy is one of the factors that constitute the Small businesses' economic environment. Therefore, the objective of this study impact analysis of tax policy and the performance of small and medium scale enterprises in Nigerian economy is to investigate impact of tax policy on the performance of small and medium scale enterprises in Nigerian economy. Descriptive survey research design was adopted. The population for this study is comprised of sixty eight (68) SMEs currently operating in Kogi State and Abuja. They have 726 personnel comprised of fifty six (56) managers and 671 accountants. The sample for the study consisted of two hundred and fiftyeight (258) respondents, (20 managers and 238 accountants from the two states. Yaro Yamani formula for sampling technique was used to select the two hundred and fifty-eight (258) respondents, representing 36% of the population. Out the two hundred and fifty-eight (258) copies of the questionnaire were printed and distributed, sixty eight were not returned while One hundred and ninety (190) copies of the questionnaire were retrieved, representing a seventy four (74%) per cent return, out of which one hundred and forty six were wrongly filled giving the total of one hundred and forty four (144) copies of the valid questionnaire. Descriptive statistics was used to analyse the data collected and to obtain the mean assessment for each scale item. The research hypotheses for this study were tested using z-test statistics to establish p < 0.05 significant differences. The analysis revealed that there is no significant difference in the mean opinion scores of managers and accountants on the best tax policy that encourages tax compliance by SMEs in Nigeria. It was also revealed that there is no significant difference in the mean opinion scores of managers and accountants of the implications of tax policy on SMEs growth. The paper therefore recommended that the for Small and Medium Enterprises to get better equipped, have enough funds and survive in a competitive market, the rate of tax levied on the small business should be lower; The rate of tax incentives and exemptions which serve as catalysts and bait for attracting investors should be highly increased by the three tiers of government in Nigeria; Government should promulgate a policy that will help to avoid illegal taxes, such as community levy, boys or youth levy and as well as association or union levy; Any policy that will push for enough funds and other activities that will lead to Small and Medium Enterprises growth is good for promulgation and there should be consistency in tax policy that will cushion the effects of factors that militate against the expansion of SMEs in relation to their ability to pay taxes by government.
Coronavirus pandemic has enormous impacts on the entire socio-economic structure of countries worldwide. It accounts for the epileptic service delivery of many enterprises globally. The pandemic has massive consequences that have to reshape the present and future landscape of the tourism industry. Thus, this paper critically examines the impact of nCOV on the aviation, cruise-shipping, and hospitality components of the tourism industry. It investigates why the tourism industry is the first and the most hit sector by Covid-19. In light of these, the paper provides an in-depth discussion on how Covid-19 affects jobs, man-hours, revenue, income, and livelihood of workers, as well as owners of the tourism industry. Discussions were also channelled on how the impacts of the pandemic on the tourism industry affect global GDP and foreign exchange earnings of countries whose economy relays significantly on tourism. The study concluded that with the prolonged lockdown, the tourism industry would continue to experience a large slide down. The paper posits that urgent policy remediation is necessary to revamp the sector and rescue it from imminent collapse and extinct.
Purpose/objective: the study is a multiple-perspective analysis adopted to examine the impact of the COVID-19 pandemic on the workers, organisations and people in terms of losses and gains. The paper is, therefore, an attempt to present a balance argumentative view of the implications of COVID-19 pandemic on the society, public organizations, and the private sector, community and family settings. Existing scholarships located in journals and other outlets tend to count the pains caused by the pandemic without looking at some gains like the strengthening of family and community ties and relationships, religious revolution, revival and awakening (affirmation of right spiritual values); increase in scientific and social researches and publications; more academics papers by faculty; the boosting of online education economy, awakening the need to prioritize governmental budgeting to address key areas like the health sector. Design/Methodology/Approach: the paper adopts a descriptive research design involving content analysis. A multiple-perspective analysis (MPA) which avoids a one-sided analysis, was adopted in the study. Findings: the findings reveal that society, individuals, the public and private sectors can profit from the public health crisis caused by COVID-19 despite the obvious negatives implications of the pandemic. Originality/Contributions: the study is original for providing a paradigm shift from the one-sided prevailing debate of analyzing the economic, manpower losses, and social pains of the COVID-19 pandemic. The study has, therefore contributed to knowledge by filling the existing gap-in-literature. The study has theoretical, policy and empirical implications and relevance.
This study examined the various options for maximizing internal revenue generation in the Nigerian local governments. It took critical and hard look on the various sources of internal revenue in the local governments, problems of exploiting the various sources for revenue generation, and the reason why most of the sources remain untapped or under-tapped by the local government in Nigeria. The study suggested feasible and pragmatic ways to maximize internal revenue generation in the local governments. It observed that prior to 1976 Local Government Reform; most local governments were able to maximize their internal revenue generation and discharged their primary responsibilities with little or no financial assistance from the higher tier governments. However, with the introduction of statutory allocations to the local governments following the 1976 Reform, most of the local governments abandoned the hitherto viable internal revenue sources in preference to the revenue from statutory allocation. This unwholesome attitude of most local governments, among others, was identified as the bane of internal revenue generation at this level of government. The paper concludes, by stating that unless the local governments look inwards to maximize their internal revenue sources it cannot be financially self-reliant. The implication of this is that it cannot enjoy reasonable degree of autonomy as a third tier of government if it continues to be heavily dependent on the financial assistance from both the federal and the state governments, to be able to function effectively. The reason is because as the saying goes, "he who pays the piper dictates the tune."
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