Modified value addes tax in Nigeria: some issues for consideration

Abiola, AG

doi:10.4314/gjss.v5i1.22798

Cited by 3 publications

(3 citation statements)

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“…Usmana (2017) noted that among the problems confronting SMEs, the issue of multiple taxes served as a worm that has deeply reduced the investment potential of the sector and invariably affects the chunk of revenue generated. Abiola (2012) corroborated this, as its study explained that the major factor causing the abrupt folding up of SMEs in Nigeria is the illegal taxes that take a large portion of their earnings.…”

Section: Introductionmentioning

confidence: 68%

Effect of Multiple Taxation on the Financial Performance of Small and Medium Enterprises (SMEs) in Ekiti State, Nigeria

Adewara

Dagunduro

Busayo

2023

JEFAS

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The performance and growth of business enterprises, especially small and medium enterprises (SMEs), have been hindered by a multiplicity of taxes causing the untimely liquidation of most businesses. In this regard, this study examined the effect of multiple taxations on the financial performance of SMEs in Ekiti State, Nigeria. The study used a survey research method and analyzed it with correlation coupled with multiple regression analysis. The population comprises all registered and functional SMEs located in Ado Ekiti, Nigeria, and have been in existence for over 5 years with valid proof of tax payment. The results found that multiple tax burdens and multiple tax administrations exhibited a significant negative relationship with the financial performance of SMEs in Ekiti State, Nigeria, while the ability to pay tax revealed a significant positive relationship. From the aforementioned results, it was concluded that multiple taxes served as a worm that deeply reduced the investment potential of SMEs and invariably affected the chunk of revenue generated by the sector in the state. It was therefore suggested that the Joint Tax Board in the state and other institutions responsible for multiple tax management should awaken to their functions and harmonize all government revenue to prevent the occurrence of multiple taxes from causing a burden and hindering the survival of SMEs in the state.

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Section: Introductionmentioning

confidence: 68%

Effect of Multiple Taxation on the Financial Performance of Small and Medium Enterprises (SMEs) in Ekiti State, Nigeria

Adewara

Dagunduro

Busayo

2023

JEFAS

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“…But the formula was changed to 35: 40: 25 for federal, state and local governments respectively in 1996. At present, the formula is 15, 50 and 35 percent to the federal, states and local governments respectively (Abiola, 2012). VAT revenue has demonstrated some measure of buoyancy and has been one of the major factors in the improved performance of non-oil revenue.…”

Section: Conceptual Clarification 211 Indirect Taxesmentioning

confidence: 99%

Indirect Tax and Inclusive Growth in Nigeria

George-Anokwuru

2023

EJEFR

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This study carefully investigated the effect of indirect tax on inclusive growth in Nigeria from 1994-2019. To achieve the above objective, secondary data on the human development index, value-added tax, as well as customs and excise duties were sourced from the statistical bulletin of Nigeria’s apex bank. Co-integration and ECM techniques were used as the main analytical tools. The regression result revealed that value-added tax has a positive and insignificant relationship with inclusive growth (human development index) in Nigeria during the period of study. At the same time, customs and excise duties have a negative and significant relationship with inclusive growth (human development index) in Nigeria during the studied period. Based on the findings, the study recommended that revenue from the various forms of indirect tax – value-added tax and customs and excise duties should be invested in social and community services - health, education, etc., economic services - agriculture, construction, transport and communication among others that will help the various sectors of the economy to function very well thereby improving the quality of life of people as measured by human development index. Government should boost indirect tax revenue. To achieve this, the government should identify and eradicate all administrative loopholes for indirect tax revenue to contribute meaningfully to the improvement of the quality of life of the inhabitants of Nigeria. JEL: H20; H21; H71 Article visualizations:<img src="/-counters-/soc/0026/a.php" alt="Hit counter" />

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“…Very popular and recent trend was used as green or eco-friendly inhibitor, is one of best practical method to protect/reducing corrosion attack [1][2][3][4][5]. More researchers have been reported for synthetic organics [6][7][8][9][10], polymer [11][12][13][14][15][16][17], heterocyclic compounds [18][19][20][21][22][23][24][25] plants extract [26][27][28][29][30][31][32][33][34][35] and various parts like leaf, flowers, seeds, fruits [36][37][38][39] as corrosion inhibitor for mild steel, aluminium, carbon steel, zinc, copper and alloys in various medium. The present work is designed as a contribution to the growing interest on environmentally benign corrosion inhibitory study to cheap, environmentally safe, less toxic and easily available substance and simple procedure [40][41][42][43][44][45]…”

Section: Introductionmentioning

confidence: 99%

Gloriosa superba Linn. Extract as Eco-friendly Inhibitor for Mild Steel in Acid Medium: A Comparative Study

Sivakumar¹,

Srikanth²

2018

Asian J. Chem.

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The comparative studies of various parts of the plant Gloriosa superba Linn. extract (leaves, flowers, stems, tubers) were carried out to investigate the corrosion protection efficiency on the corrosion of mild steel in 1 N HCl medium by using mass loss method, polarization measurements and electrochemical impedance spectroscopy at room temperature. Polarization measurements showed that the studied extract acts as mixed type inhibitor with significant reduction of cathodic and anodic current densities. Organic moieties present in the extract are found responsible for effective performance of inhibitor which is well supported by FTIR studies. On comparison, optimum inhibition efficiency was found in Gloriosa superba Linn. stem extracts with 99.80 % at 15 ppm concentration. The nature of protective film formed on the mild steel surface has been confirmed by SEM analysis. The surface coverage values fits well to the Temkin adsorption isotherm.

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Modified value addes tax in Nigeria: some issues for consideration

Cited by 3 publications

References 0 publications

Effect of Multiple Taxation on the Financial Performance of Small and Medium Enterprises (SMEs) in Ekiti State, Nigeria

Effect of Multiple Taxation on the Financial Performance of Small and Medium Enterprises (SMEs) in Ekiti State, Nigeria

Indirect Tax and Inclusive Growth in Nigeria

Gloriosa superba Linn. Extract as Eco-friendly Inhibitor for Mild Steel in Acid Medium: A Comparative Study

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