ABSTRACT
Taxation ordinarily is the imposition of levies on the individuals and corporate bodies in a given state. It is said to be an imposition because of its compulsory nature which of course has received government backing. It is one of the variable instruments of government fiscal policy as it changes with regards to changes in administration. Taxes are broadly grouped into two categories via direct and indirect taxes while the former is a tax levied on goods and services whose final burden are transferred to the consumer. Tax is intended to reveal how the manufacturing sectors will be corrected by the various taxation policy of the government bearing in mind that government desire is to achieve reasonable success of high economic growth with less difficulties the study generally as rated that the annual remover of a manufacturing concern and its ability to make profit pay dividend and plough back part of its profit, pay diverse affected and that such problem like low level of productivity, foreign exchange, low level of capital formation, infrastructural problem and poor research will be encountered. The company bears the entire tax burden as the products elasticity of demand becomes perfectly elasticity of (i.e the company lost as a result of high price on lost as a result of high price on lost as a products, the resource becomes, inelastic. Be that as it to negatively effect. The objective of this study were achieved through the use of personal interview to select management staff different departments from the company on the basis of the conclusion and the understated recommendation were drawn and effectiveness of tax reducing the effect on manufacturing firms especially locally mented when ‘‘Beta Glass Plc, Ughelli.
TABLE OF CONTENT
Title – – – – – – – – – – – – i
Approval – – – – – – – – – – – ii
Dedication – – – – – – – – – – – iii
Acknowledgements – – – – – – – – – iv
Abstract – – – – – – – – – – – v
Table of Content – – – – – – – – – – vi
CHAPTER ONE: INTRODUCTION
Background of the Study- – – – – – – – 1
Statement of the Problem – – – – – – – 3
Purpose of the Study – – – – – – – – 3
Significant of the Study – – – – – – – – 4
Research Question – – – – – – – – 5
Scope of the Study – – – – – – – – 5
Limitation of the study – – – – – – – – 6
Definition of the term – – – – – – – – 6
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction – – – – – – – – – 9
2.2 Meaning and Nature of Taxation – – – – – – 10
2.3 Imposition of Income Tax of Company History Background – 15
2.4 The Objectives of Taxation – – – – – – – 16
2.5 Problems Encouraged By the Manufacturing Sector – – – 18
2.6 Effect of Taxation on the Economy with Emphasis on the
Manufacturing Sector – – – – – – – – 22
2.7 Burden of Taxation With Regards To Manufacturing Companies – 24
2.8 Summary of the Literature Review – – – – – – 29
CHAPTER THREE Research Methodology
3.1 Introduction – – – – – – – – – 30
3.2 Design of the Study – – – – – – – – 30
3.3 Area of the Study – – – – – – – – 31
3.4 Populations of the Study – – – – – – – 31
3.5 Sample and Sampling Techniques – – – – – – 32
3.6 Instrumentation – – – – – – – – – 33
3.7 Description of the Instrument – – – – – – – 34
3.8 Validation of the Instrument – – – – – – – 35
3.9 Reliability of the Instrument – – – – – – – 35
3.10 Questionnaire Administration and Retrieval – – – – 36
3.11 Techniques of Data Analysis – – – – – – – 36
CHAPTER FOUR Data Presentation and Analysis
4.1 Introduction – – – – – – – – – 37
4.2 Data presentation – – – – – – – – 37
4.3 Data Analysis – – – – – – – – – 41
CHAPTER FIVE Summary of Findings Conclusion and Recommendations
5.1 Summary of finding – – – – – – – – 48
5.2 Conclusion – – – – – – – – – – 49
5.3 Recommendation – – – – – – – – 49
Reference – – – – – – – – – – – 51
Letter of Introduction – – – – – – – – – 52
Questionnaire – – – – – – – – – – 53
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
The role of manufacturing sector cannot over emphasize. It plays considerable role both economic and social development o any nation. The import on any instituted policy on the manufacturing sectors will consequently displays immense effects on the development rate and social life of the people.
Various governments in Nigeria have various times devised measures to encourage and develop the manufacturing sectors. Precisely, in Abacha’s administration, during his 1998 budgets the head of the state recognized and promised to find MAXIM, and NERFUND, these are bodies responsible to provide loans for small scale industries and also it is a measure for encouragement. This is in consonance with the objective of creating employment through technological and home manufacturing goods. Another motive is discourage our independence on imported goods to improve the balance of payment position, this was why the federal military government, in the 70’s (during “oil boom”) introduced the granting of tax holidays and incentives to manufacturing industries during the early years of commencement of operation.
The company income tax degree, 1979n also provides for incentives for incentives for such companies. These incentive range from granted of capital allowance of allowable capital expenditure to granting of loss relief.
The government also grants certain concession to manufacturing industries in the areas of importation of spare parts and raw materials a result of that government measures many manufacturing companies sponge up. This help job creation and rapid economic development in the country.
