Tax Reforms and Tax Burden of Listed Consumer Goods Firms in Nigeria
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 04
Abstract
The lack of clarity in tax laws, coupled with frequent amendments and revisions, has given rise to uncertainty, hindering strategic planning and impeding long-term investment decisions. As a consequence, the publicly traded consumer goods firms in Nigeria face the formidable task of not only understanding and complying with the intricate tax structures but also striving to maintain competitiveness in an environment where the tax burden is increasingly becoming a pivotal determinant of business success. Given the foregoing this study examined tax reforms and tax burden: a study of listed consumer goods companies in Nigeria. In order to achieve the goals of the study, a longitudinal panel research design was implemented. The study concentrated on twelve consumer goods corporations that are publicly traded on the stock market. The selection of these companies was based on their continuous publication of annual audited financial statements from 2013 to 2022. The data obtained from these reports were analysed using the panel data regression approach, with the assistance of statistical tools like E-view 10. The study's findings indicated that direct tax exerts insignificant effect on tax burden of consumer goods firms in Nigeria. While indirect tax on the other hand, has a negative significant effect on tax burden of consumer goods firms in Nigeria. The study thus recommends that consumer goods firms should consider engaging with policymakers and tax authorities to advocate for favorable indirect tax policies. Collaborative efforts with government agencies can contribute to creating a tax environment that aligns with business needs and minimizes the negative impact on the tax burden
Authors and Affiliations
OYEWOBI Ifeoluwapo Adebimpe, Gundu, Lucy Mngueshima,
Keywords
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- EP ID EP734379
- DOI 10.47191/jefms/v7-i4-25
- Views 86
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