+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

THE IMPACT OF TAX INCENTIVES ON ECONOMIC AND INDUSTRIAL DEVELOPMENT

  • Type:Project
  • Chapters:5
  • Pages:56
  • Format:Microsoft Word
(Economics Project Topics & Materials)

ABSTRACT

This impact of Task incentives of Economic and industrial development of Enugu state Intends to examine the extent individuals ad companies have been responding to the incentives scheme. How these incentive have been stimulating and motivating these bodies on employment opportunities. The researcher intends to examine also how these incentives have been helping existing industrials and companies in expanding their areas of operations in Enugu ad to know if the expected result of these incentives are achieved by the firms who benefit from these relives. Some of the factors which have motivated the researcher in this study include: weakness of the firm to respond to the desired objective, lack of awareness and the aims for granting the relief in adequacy of incentives to sustain the desired development. In this work, the researcher looked into textbooks journals, articles and administered questionnaires to practicing personalities which include tables were used in analyzing the data collected, it was revolved that more than 50% of the firms and individuals studied are aware of the incentive. A good number of them did not go into production, because of the incentives and more than 50% suggested that more incentives should granted.

CHAPTER ONE

INTRODUCTION

       The mode by which economic and industries can be effectively and efficiently developed have a problem.  As a result, government charges less tax in order to encourage investments and activities in those areas which helps to improve the production capabilities, active economic growth as well as allocation of resources in social desirable manner.

       Tax incentive is the use of government spending and tax policies to influence the level of national income.  Taxation itself is the process or mean by which communities or group are made to contribute part of their income for purpose of administration of the society.

       This measure will encourages new enterprises to spring up.  Thereby reducing profit task which encourages production to curb unemployment.  Government should provide employment opportunities,  to improve our economy.

       The government infrastructure facilities such as roads, water supply, electricity hospital etc more reallocate resources to the public sector charging mix input.  By borrowing rather than taxing, the federal government has a better chance of expanding investment spending which is essential to enlarge our production possibilities and attaining increase in standard of living.

       In order hand, these incentive can be targeted on low income earners. This will normally increase their saving which is necessary for higher investment.

Tax incentive also create employment opportunities people which help to fight depression, inflation thereby increasing distribution of income and wealth.

STATEMENT OF THE PROBLEM

       This impact of tax incentive on economic and industrial development using Enugu state as a case study although there are many advantages got were tax incentives are use for economy and industrial development most task experts, consultants individuals and economic analyst ignored or criticized tax incentives  because of the following.

1.  the impact of incentives are not effective in the economy

2.  The exemption privilege not granted to all firms in an industry which place some companies at a competitive disadvantage

3.  Many management of firms, companies lack awareness of the incentive

4.  The incentive granted are not adequate to the development and growth of industry

5.  Unwillingness of some companies and individuals to claim the incentive.  This is because they do not understand the role.

PURPOSE OF THE STUDY

Tax incentive is a strong fiscal measure or policy which can stimulate investment and savings leading to capital information.  This  capital acquisition can be used productively in economic and industrial development of companies and individual can use them effectively.  In deciding if these incentives can stimulate the companies and individuals to invest in the economy.  One basic fact is this whether the company individual concern decided to go into business because of tax incentives offered.  In this study the researcher intends or  companies, have been responding intend or companies, have been responding to incentive scheme how these incentive have been stimulating and motivating these bodies to establish industries, which will create employment opportunities.

       Moreover,  he researcher intends to examine how these scheme has been helping existing industries and companies in expanding their areas of operation in Enugu

RESEARCH QUESTIONS

1.          Can these tax incentives attract foreign incvestors in Nigeria via – Enugu state?

2.          Are the existing tax incentive adequate for development?

3.          Are those incentives claimable by the companies?

4.          Do these incentive stimulate individuals to establish new enterprises?

5.          Do these tax incentives induce the existing industries in Enugu to pursue vigorous policy expansion.

SIGNIFICANCE OF THE STUDY

       Tax incentive scheme  is an economic policy which exist among many other competing alternatives.  The scheme may be an inducement towards rightful investment, securing proposal on private investors lay behind, it then follows that if the schemes is a pale shadow for pilling stock of profitable that the benefits expected from these incentives should be able to justify the cost.

a.          As a result of creating many industries and subsequent expansion of existing ones, it standard of living of the populace will increased.

b.          Tax  incentives will helps in small scale industries which will subsequent expansion of existing one’s the standard of living of the populance will be increased.

c.           Tax incentive scheme leading to diversification will be also result in increasing Urban and rural development.  It is the intention of the researcher to look into ways and extent the existing tax incentives are being used by entrepreneurs in setting up industries establishment in Enugu State.

Share This

Details

Type Project
Department Economics
Project ID ECO0498
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 56 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Economics
    Project ID ECO0498
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 56 Pages
    Format Microsoft Word

    Related Works

    ABSTRACT This research work on tax incentive as a catalyst for industrial development and economic growth in Nigeria was primarily undertaken to evaluate the effectiveness of tax incentives in developing the Nigerian economy, the extent to which individuals and companies have been responding to the incentive scheme, and how these incentives have... Continue Reading
    ABSTRACT The impact of tax incentives on economic and Industrial Development intends to examine the extent individuals and companies have been responding to the incentives scheme. How these incentives have been stimulating and motivating these bodes on employment opportunities.... Continue Reading
    The Impact Of Tax Incentives On Industrial Sector Development In Nigeria ABSTRACT This research studied the impact of tax incentives on industrial sector development in Nigeria from 1981 to 2009 using time series data. The Ordinary Least Square (OLS) method was adopted using a Classical Linear Regression Model and the E-View version 6.0 software.... Continue Reading
    Tax Incentives Catalyst For Industrial Development And Economic Growth. CHAPTER ONE INTRODUCTION 1.1        BACKGROUND OF THE STUDY Tax studies have become increasingly sophisticated especially during the past decade and have yielded conflicting results as regards the tax matter. Some studies focus on the cost and benefit of tax incentives... Continue Reading
    ABSTRACT The study was anchored on the general notion that sustainable industrial growth is very vital to economic growth and development. Nigeria has transited from different industrial phases and development stages without meaningful contribution to growth and development in Nigeria. The contributions of the sector, growth and employment is... Continue Reading
    ABSTRACT The industrial sector remains a strong sector of any economy, be it developed or developing. The developed countries are noted for their high industrial performance. The effect of the industrial activities on the economy of underdeveloped or developing nation si still under contention. It’s a fact that the economy will not grow without... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1      Background of the Study Nigeria as one of the developing countries in the world, the growth of Small and Medium Enterprises (SMEs) is very vital for the growth of the economy in general as SMEs account for over 70% of the total business activities in the country. SMEs in most developing countries are usually... Continue Reading
    (A CASE STUDY OF SABGO PALM OIL PROCESSING INDUSTRY NSUKKA ENUGU STATE) ABSTRACT This write-up is to show how government industries foster economic development. This project aims at examining various government policies and their effects on the... Continue Reading
    TABLE OF CONTENTS CHAPTER ONE: INTRODUCTION BACKGROUND TO THE STUDY STATEMENT OF THE RESEARCH PROBLEM RESEARCH OBJECTIVES RESEARCH HYPOTHESIS SCOPE OF THE STUDY SIGNIFICANCE OF THE STUDY LIMITATIONS OF THE STUDY REFERENCES CHAPTER TWO: LITERATURE REVIEW INTRODUCTION EMPIRICAL... Continue Reading
    ABSTRACT After the economic depression of the 1930’s the concept of economy. Many nations began to implement policy measures aimed at both raising revenue for the government and encouraging investment via investment tax credit.   In Nigeria, the concept of taxation, especially as it relates to tax incentive had been an important topic for... Continue Reading