Interestingly, accounting provides information that facilitates these functions. Also, the strengths and weakness of the Taxes must be filed by April 15 of every year, and failure to file or pay taxes can subject you or your company to penalties including fines, interest and even possible jail time.
The study will be useful to financial managers in Guinness Breweries, Onitsha especially in formulating policies that will enhance efficiency in decision making for the organization and increase the profitability level of the organization.
(Hermanson et al, 1992: 824).
For most companies and businesses, paying tax is a necessary evil and the aim is to reduce the amount of taxes owed as much as possible. Their inability to effectively manage taxation brings about negative effects on the financing, investment and dividend decisions of the business.
ADVERT SPACE !! For most companies and businesses, paying tax is a necessary evil and the aim is to reduce the amount of taxes owed as much as possible.
The two primary objectives of every business are profitability and solvency. Interestingly, accounting provides information that facilitates these functions. In considering problems associated with income tax of developing economies, problems statements like the following arises: The main aim of the study will be to critically examine the effects of taxation on business decision, using Guinness Breweries, Onitsha as a case study. Businesses can also take depreciation on certain property, so this can impact how and when new items are purchased. CHAPTER ONE Financial obligation: it is the expected activities pertaining to the monetary accumulation, earnings and transactions records of companies. The brewery was the first outside of Ireland and Great Britain. It involves using diagrams to help articulate and work through the decision problem, from initial recognition of the need through to communication of the decision and the thinking behind it. Every profit oriented organization is faced with three (3) major business decisions to make every day as far as finance is concerned. business need to be identified and necessary corrective measures applied. Other breweries have been opened over time – Benin City brewery in 1974 and Ogba brewery in 1982. Thus, the impact of tax on investment and business decisions usually comes down to how to reduce taxes as mu… Businesses make numerous decisions daily. Thus, the lack of fund pose as a limitation to this work; also, time factor is included because the issue of combining lecture with research is not an easy task. Business: Also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers or to other businesses. CTRL + SPACE for auto-complete. Just like expenses, tax liabilities incurred by an organization over a period of time affects its business decisions. The study will also be useful to other manufacturing companies having taxation difficulties. To examine the effect of taxation on business decisions of Guinness Breweries, Onitsha. Company income tax: This Tax is payable for each year of assessment of the profits of any company at a rate of 30%.
based on modern information technology. Taxation: This refers to the levying of compulsory contributions by public authorities having tax jurisdiction, to defray the cost of their activities. ADVERT SPACE !!!
If tax liabilities are efficiently managed, more revenue generated by the organization will be invested in other areas of the business to speed up growth and expand the business.
According to Roche 2015: 5), Corporate taxation is of great concern on investors' decisions and hence in economic growth and employment. Considering how tax can affect the success of an organization, it is therefore important for financial managers and accountants to apply efficient legal tax avoidance techniques. Tax which is a form of liability is a broad area in management, and financial account, and it is handled with care as the financial position of every business organization will definitely be affected based on how tax matters are managed. Hermanson, Roger H. James Don Edwards, & Michael W. Maher. Profitability is the ability of a business to make profit, while solvency is the ability of a business to pay debts as they come due. While that profit is not a fixed number that the business must have but it is generally a controlling factor if the business is to continue. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window).
Taxation policy: therefore, is the general plan of action on the pattern of arriving at a taxable amount that is considerable both to the management and shareholders or investors of the companies. These decisions are greatly influenced by assets, liabilities, expenditures and the capital structure of an organization. Hi: There is a significant relationship between Taxation and business decision of Guinness Breweries. the impact of tax on business decision usually comes down to how to reduce taxes as much as possible on income earned. Profitability is the ability of a business to make profit, while solvency is the ability of a business to pay debts as they come due. The ability of an organization to effectively and efficiently employ various techniques to avoid and reduce tax burden is imperative. The two primary objectives of every business are profitability and solvency. (Coelho, Isaias, and Harris, 2001). Does government policy on company income tax affect the revenue of corporations in developing countries? TAXATION UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS, HUMAN RESOURCE MANAGEMENT PROJECTS AND MATERIALS », HOW TO WRITE AN UNDERGRADUATE PROJECT FOR GRADUATING STUDENTS, HOW TO FIND FINAL YEAR RESEARCH TOPICS AND MATERIALS IN NIGERIA, TECHNIQUES FOR CHOOSING GOOD UNDERGRADUATE PROJECT TOPICS, RESEARCH CLUE ON HOW TO ACCESS UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS IN NIGERIA, UNDERSTANDING REFERENCING STYLE WHEN DEVELOPING PROJECT TOPICS, UNDERSTANDING THE LEVEL OF SIGNIFICANCE DURING DATA ANALYSIS. To appraise tax avoidance techniques adopted by Guinness Breweries, Onitsha. First each and every tax required of a business is just another business expense. Prior to the 2017 tax overhaul bill, companies couldn't write off more than $1 million in executive compensation to one individual unless it was performance-based. ABSTRACTThis study investigates the relationship between socio-economic status and children’s educational life chances using the peasant farmers of... Modish project is an organization aimed at facilitating students with their various research thesis materials, and also provide them with effective solutions in other academic concerns.Rely on us for a stress-free research project work, A-class academic materials, and easy guides through the course of your academic programme. This is true for both developed and developing countries. 39,488 people found this useful, THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION individual and corporation within Nigeria is taxed on income incurred.
The two primary objectives of every business are profitability and solvency. Every individual and corporation within Nigeria is taxed on income incurred. Since taxation is a liability businesses have to incur, businesses are faced with the option of managing their tax liabilities in such a way their tax burden is reduced. Just like expenses, tax liabilities incurred by an organization over a period of time affects its business decisions. Accounting Principles. Guinness Nigeria produces the following brands – Foreign Extra Stout (1962), Guinness Extra Smooth (2005) Malta Guinness (1990), Harp Lager Beer (1974), Gordon’s Spark (2001), Smirnoff Ice (2006), Satzenbrau (2006). Tax liabilities pose two issues for a business. ABSTRACTLand titles registration and property investment are two processes which are very important in real estate development. Just like expenses, tax liabilities incurred by an organization over a period of time affects its business decisions. Policy: can be referred to as prudent conduct, sagacity or general plan of action to be adopted by an organization. These decisions are greatly influenced by assets, liabilities, expenditures and the capital structure of an organization.
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