Impact of income tax on the performance of small scale business enterprises:
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Date
2018-08
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Impact of income tax on the performance of small scale business enterprises:
Abstract
The study was about impact of income tax and the performance of small scale business enterprise at Kabalagala town in Uganda and it was guided by the following specific objectives; to assess the level of performance of small scale business enterprises in Kabalagala suburb, Makindye division, to find out whether income tax affects the performance of small scale business in kabalagala suburb, Makindye divison, to establish whether there is relationship between income tax and the performance of small scale business. The study based on 80 respondents who were randomly selected among the small scale business enterprises. The researchers used frequency, correlation research design and descriptive research design which involved both quantitative and qualitative research methods of the study, the questionnaires were the main tools for collection of data from the field. Data was analyzed using descriptive statistics through the means and standards deviation.
Tables was used to present the frequencies and percentages of different categories of data. Secondly, the inferential statistics was used via a correlation analysis.
The study showed a weak positive relationship between income tax and the performance of enterprises at Kabalagala town. This was further evidenced by the Pearson correlation results of r~ 0.276 which was statistically significant at 5% level of significance.
The researcher recommends that council should find a way of assessing the tax in that the Social security boards (SSBs) should pay early in the financial year in order to give enough time to the businesses to pay their dues rather than make an assessment and demand for payment spontaneously, introduce a scheme that allows taxpayers to pay the tax obligation in the installments over a given period as opposed to lump sum at once, URA should improve on the methods of collecting the taxes and URA should improve awareness amongst the taxpayers of the need to pay taxes and how their tax liability is determined and the time process of the tax assessment.
Description
A Research Report Submitted to the College of Economics and Management in Partial Fulfillment of the Requirements for the Award of the Bachelor Degree of Economics and Applied Statistics of Kampala International University
Keywords
Income tax, Small scale business enterprises, Kabalagala, Makindye Division
Citation
case of Kabalagala, Makindye Division