MULTIPLICITY OF TAXES: THE BANE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) PERFORMANCE IN DEVELOPING NATIONS: THE NIGERIA EXPERIENCE

The study sets out to examine the extent to which delegation of powers to third party and the application of duress and undue influence impact on the multiplicity of taxes and by extension the performance of small and medium scale enterprises in developing nations. Empirically the study has revealed many more problems than the paper has captured which tend to indicate a bleak future in the affected region. To be more exact, the ex-post factor research design was adopted. The data are generated through questionnaire and analyzed using the ordinary least square model. The study reveals that the entrepreneural performance proxied by Return on Investment (ROI) is significantly affected by multiplicity of taxes occasioned by the delegation of powers of tax officers to third party and the applicant of duress and undue influence. Conclusively, the central government has allowed the problem of multiplicity of taxes to escalate. This is a result of spurious policy thrust which is inconsistent with the reality of the situation in the region. It is recommended that the use of tax consultants should stop forth with and that enlightenment schemes for political office holders and their revenue officials be more of regression to stem the tide of the menace.