AN INVESTIGATION INTO THE IMPACT OF MULTIPLE TAXATION ON THE ACHIEVEMENT OF SMALL AND MEDIUM SCALE ENTERPRISE

Abstract: This study focuses on investigating the effects of multiple taxation on the performance of small and medium-sized enterprises. Throughout the years, small and medium size firms (SMEs) have emerged as a significant driver of job creation and the empowerment of Nigerian residents. These enterprises have played a pivotal role in generating around 50% of all employment opportunities in Nigeria, while also contributing to the development of local capital. Nevertheless, the fatality rate of these little enterprises is exceedingly elevated. Tax-related difficulties, including multiple taxation and significant tax burdens, are identified as contributing causes to these premature close-ups. This study aims to investigate the impact of multiple taxation on the survival of small and medium-sized enterprises (SMEs). The study used a survey research design, encompassing a population size of 91 individuals. The sample size was determined by the researchers to be 74, and data collection was conducted via a self-administered questionnaire. The data underwent quantitative analysis using basic percentage calculations, and the study hypotheses were evaluated by the application of ANOVA. The results of the study indicate that the imposition of many taxes has a detrimental impact on the ability of small and medium-sized enterprises (SMEs) to sustain themselves. Furthermore, the analysis demonstrates a substantial association between the size of SMEs and their capacity to meet tax obligations. The research thus suggests that it is advisable for the government to establish consistent tax policies that are conducive to the growth of small and medium-sized enterprises (SMEs) in Nigeria. Additionally, the government should take into account the scale of SMEs when devising tax policies.