THE EFFECTS OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANIZATION
ABSTRACT
This study effect of corporate tax on the profitability of business organizations shows the result of corporate tax on company’s profit. It allows the public and corporate bodies to view and understand the importance and benefits of paying tax out of their profit. Income tax was first introduced in 1904 by Lord Lugard when he was the high commissioner for Northern Nigeria. Taxation was defined by many people such as Agyes, A.K 1983, Amaechina, P.U. 1995 e.t.c. The information for the study was collected using both primary (questionnaire) and secondary data (internet). A population of 200 was assumed and a sample of 133 was gotten using Yaro Yamines formular. All the responses gotten was analysed using tables and percentages. it was found out that there is no free flow of information about corporate tax. However, public enlightenment should be organized by the government so as to explain the need for companies to pay tax promptly and adequately, emphasizing on the benefits they stand to get.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
Background of the Study 2
Statement of the Problems 6
Objective of study 7
Research Question 8
Significance of the study 9
Scope of the study 10
Limitation of the study 11
Definition of Terms. 11
CHAPTER TWO
LITERATURE REVIEW
Effects of Tax on Company’s profit 13
Effects in details 14
Double Taxation Argument 15
Discouragement of Company’s Investment 17
Increase in Price of Shares and Commodities 18
Tax avoidance and evasion 18
Revenue which Government Generate from Tax 23
Payment of Unnecessary fees to Influence some of the corrupt Relevant Tax authorities. 29
CHAPTER THREE
RESEARCH DESIGN AND METHODS
Research Design 31
Area of Study 31
Population Size 31
Sample size 32
Research Instrument 35
Validity and Reliability of Research Instrument 35
Source of Data 36
Method of Investigation 37
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
4.1 Presentation and analysis of result 38
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
Findings 47
Conclusion 49
Recommendations 49
Appendix
LIST OF TABLES
Table 3.1Population Distribution Table33
Table 4.1 Perception of staff on the benefit of corporate
taxation. 39
Table 4.2 Perception of staff as regards to the relationship between unwillingness of corporate organization and ignorance of corporate tax benefits. 41
Table 4.3 Perception of staff to the negative way corporate tax influence their profit. 43
Table 4.4 Perception of staff on the attainment of First Bank of Nigeria PLC. objectives. 45
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