THE EFFECT OF TAXATION ON MANUFACTURING FIRMS (A CASE STUDY OF IKEJI PLASTIC COMPANY LIMITED ONITSHA). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
From original conception, taxation may be regarded as an assessment imposed by the government to meet the express of government structures.
The aim of this research is to find out how taxation effect, the manufacturing firms with reference to Ikeji plastic company limited Onitsha. The research seeks to find out if these effect are positively oriented or negatively oriented.
The study is carried out as step towards giving answer to these problems. In attempt to solve the research questions, questionnaires were used to guide the study the collected data and stated questions were later analyzed and tested using arithmetic percentages. The influences and deducation drawn from these analyzes and tested reveals certain facts.
It was discovered that the effect of taxation on the manufacturing firms was both positive and negative. In as much as those interviewed held the view that the tax their company pay is too much, they also agree the they enjoy some benefit from paying such taxes.
From the findings, the researcher therefore recommends that government should find a way of checking and balancing tax payment so as not to discourage tax payment on the part of the payers.
1.1 STATEMENT OF THE PROBLEMS AND PURPOSE OF THE STUDY
It is really a statement of fact that a manufacturing industries fail to reach their objective as a result of their inability to meet up with their tax payment.
The study was set up to find the problems that tax have created on manufacturing industries. The researcher also intends to find out the effects of tax on manufacturing companies especially on profit.
The effects of tax on the firms line of business. The study aims at helping manufacturing industries to realize how important taxation is the purpose of the study is to investigate among other things the followings;
v The effect of indirect tax on manufacturing industries in their ability to procure equipments and also raw materials.
v The effort government has done to ensure maximum efficiency in production and no dissatisfaction on the part of the manufacturing industries with respect to taxes.
1.2 RATIONAL OF THE STUDY
The rational of the study is, to identify and explain how effort government has done to ensure maximum efficiency to words in production and no dissatisfaction on the part of the manufacturing industries with respect to tax.