EFFECT OF MULTIPLE TAXATION ON THE TURNOVER OF SMALL AND MEDIUM SCALE ENTERPRISES

ABSTRACT This study was designed to examine the effect of multiple taxation on the Turnover of small and Medium Scale Enterprises. The objective of the study is to examine the relationship between multiple taxation and SMEs in NAO supermarket. This study survey research design. The population of study comprises of 33 Employee of staff operating in NAO Supermarket Ado- Ekiti, Ekiti State. the researcher used primary data. The secondary data was obtained from the annual audited report of NAO Supermarket Ado- Ekiti, Ekiti State. findings indicate that multiple taxation significantly raises the overall operating costs for businesses in NAO Supermarket, adversely affecting the profit margins of SMEs. It also hampers the growth potential of these businesses by limiting their ability to expand operations. Frequent tax payments discourage further investment in SME development within the supermarket. Based on conclusion, Multiple taxation has a profound and adverse effect on the survival and growth of SMEs in NAO Supermarket. The findings indicate that the high tax burden significantly increases the overall cost of doing business, which in turn reduces profit margins and limits the ability of these businesses to expand. Therefore, the study recommendations, government should review and streamline the existing tax system to reduce the number of taxes imposed on SMEs. Consolidating multiple taxes into a single, more manageable tax could help ease the financial burden on these businesses and simplify compliance, enabling SMEs to allocate more resources toward growth and development.