THE EFFECTS OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANIZATION
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 65 pages | 1-5 chapters | Amount: ₦5,000 | 11 orders. | Marked useful: 8,575 times
Delivery: Within 24 hoursTHE EFFECTS OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANIZATION
ABSTRACT
Lucidly written and properly organized, this term paper/project work “THE EFFECT OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANISATION” affords the public, corporate bodies and individual opportunities to view and understand the importance and benefits of the effects of corporate tax on the profitability on business organization.
The first chapter provides relevant introduction that is the origin of corporate taxation in Nigeria.
However, the second chapter provides practical framework x-raying the effect of tax on company’s profitability, tax avoidance and tax evasion and revenue which government generate from tax.
Lastly, chapter three provides the summary, conclusion and recommendations.
The reader must realize that it is through the tax that Federal Government of Nigeria generate revenue to financing its expenditure and provision of infrastructural facilities and services, knowing fully well that reading it in detail will be greatly helpful to readers.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of contents
CHAPTER ONE
1.0 Introduction
1.1 Objective of the study
1.2 Scope of the study
1.3 Definition of terms
CHAPTER TWO
2.0 Literature Review
2.1 Effects of tax on the company’s profitability
2.2 Effect in detail
2.3 Discourage company’s saving
2.4 Double taxation payment
2.5 Increase in prices of goods and commodities
2.6 Tax avoidance and tax evasion
2.7 Revenue which government generate from tax
CHAPTER THREE
3.0 Summary, Conclusion and Recommendation
3.1 Summary of Findings
3.2 Conclusion
3.3 Recommendation
Bibliography
CHAPTER ONE
3.0 INTRODUCTION
This topic “effect of corporate tax on the profitability of business organizations” reveals both the positive and negative ways in which tax payment has affected the profit structure of business organizations.
Meanwhile, it will do us good to briefly discuss the origin of corporate taxation in Nigeria. The universality of taxation account for its description as a popular way of raising revenue by Turner and Hunt (Okoye 1998:7). In that light, Benjamin Franklin is quoted to have argued that in this world, nothing certain but death and taxes. In Nigeria in context, income tax was first introduced in Nigeria in 1904 by Lord Luggard who enacted the first income tax statute when he was the high Commissioner for Northern Nigeria. The colonial government in Nigeria like in all other colonized government in Nigeria introduced various taxes in Nigeria in order to tap the financial resources for their operations from the people. In that situation, government taxation want an extension of the network of exploitation of the colonized people.
The post colonial states unavoidably inherited and sustained taxation as one of the government sources of revenue. The first tax on companies was known as the profit tax. This important step involves the taxation of companies at different rate from individuals and union corporate business was followed during the second world war by the introduction of a system of capital.
The corporate tax as we know was introduction in 1965 in Britain. The recent development of this tax is attributed to the fact that until well after the second world war, the corporate form of business was practically non-existing in Nigeria. Being recent it has therefore not received as much as attention from the populace as personal income tax has.
However, with the growth of the economy, the corporate sectors has expanded considerably, bringing more sharply into focus the problem of taxing corporate income, and at exploiting a potentially source of revenue.
Over one thousand (1000) companies were subjected to company’s income tax. In 1963, compared with only about three hundred and fifty (350) in 1960. Now, comparing these figures with the great number of corporate now in existence, presently, we have about three thousand companies, which
This material content is developed to serve as a GUIDE for students to conduct academic research
Delivery: Within 24 hours
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
A CRITICAL ANALYSIS OF THE IMPORTANCE OF AUDITING IN THE AUTHENTICATION OF FINANCIAL STATEMENT OF BU...
CHAPTER ONE INTRODUCTION 1.1 Background of the study The viability of every organisation depends on the implementation of efficient internal audits, w...More »
Item Type: Project Material | 54 pages | 17 engagements |
- 2.
EFFECT OF UNETHICAL ACCOUNTING PRACTICES ON FINANCIAL REPORTING QUALITY OF MANUFACTURING FIRMS IN NI...
CHAPTER ONE INTRODUCTION 1.1 Background of the study Over the past decade, there has been a significant global concern regarding the persistent use...More »
Item Type: Project Material | 54 pages | 1,838 engagements |
- 3.
OFFICE POLITICS AND STAFF PRODUCTIVITY IN PUBLIC ORGANIZATION: A STUDY OF USSA LGA TARABA STATE FROM...
OFFICE POLITICS AND STAFF PRODUCTIVITY IN PUBLIC ORGANIZATION: A STUDY OF USSA LGA TARABA STATE FROM 2013 2017 CHAPTER ONE INTRODUCTION 1.1 Backgro...More »
Item Type: Project Material | 54 pages | 914 engagements |
- 4.
ANALYSIS OF AUDIT PROCEDURES IN CAMEROON'S PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The administration and oversight of public sector funds has been a persistent worry for the gener...More »
Item Type: Project Material | 54 pages | 943 engagements |
- 5.
ANALYSING THE IMPACT OF LEGAL AUDIT REQUIREMENTS ON AUDITOR PERFORMANCE IN CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study The extensive body of literature on behaviourist management control and information asymmetry spa...More »
Item Type: Project Material | 54 pages | 3,825 engagements |
- 6.
AN EXAMINATION OF EFFECTIVE AUDIT SYSTEM AS A PREREQUISITE FOR IMPROVING CORPORATE ACCOUNTABILITY (A...
CHAPTER ONE INTRODUCTION 1.1 Background of the study Society supports the survival and expansion of economic enterprises by furnishing them with fi...More »
Item Type: Project Material | 54 pages | 1,053 engagements |