IMPACT OF TAXATION OF DIGITAL ECONOMY ON TAX IMPLICATIONS FOR BUSINESSES OPERATING IN NIGERIA

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dc.contributor.authorOlumoh, Yusuf Alabi, Abdulrasheed, Abdullahi Taiwo, Sanni, Mubaraq, Ibrahim, Salaudeen, Oluwole, Shuaib Abdul-Hakeem, & Salman, Ramat Titilayo
dc.date.accessioned2024-07-17T09:58:46Z
dc.date.available2024-07-17T09:58:46Z
dc.date.issued2024-06
dc.descriptionThe taxation of the digital economy significantly impacts businesses operating in Nigeria by introducing new tax obligations and compliance requirements. This includes taxes on digital services, online transactions, and digital advertising. Businesses must navigate complex tax regulations, affecting their cost structures, profit margins, and overall financial planning. The Nigerian government aims to capture revenue from digital activities, which can influence business strategies, investment decisions, and competitiveness. Compliance with these tax laws is crucial to avoid penalties and ensure sustainable operations in Nigeria's evolving digital landscape.
dc.description.abstractThe taxation of the digital economy is a dynamic and ongoing process, as governments and international organizations navigate the complexities of taxing digital transactions and inabilities in ensuring a level playing field for all businesses, and the issue of digital tax avoidance has emerged as a concern, despite efforts by various countries around the world by implementing some measures like digital services taxes to ensure that digital companies contribute their fair share of taxes. Based on these unending issues, the study therefore, the aims to examine the impact of taxation of digital economy on tax implications for businesses operating in Nigeria. The study adopted a cross-sectional survey research design and the population of the study consisted of 350 stakeholders in Nigeria, including employees of the Federal Inland Revenue Services (FIRS) and employees of the top 32 startups in Nigeria as of 2022. Random sampling technique was employed to quantitatively select a sample of 187 senior employees of both FIRS and startups businesses in Nigeria. The primary data obtained was analyzed using a Partial Least Square-Structural Equation Modeling (PLS-SEM) technique. This study found that taxation of digital economy has no significant impact on tax implications for business operating in Nigeria as shown by t values of 0.944 with p-value of 0.345 at 5% level of significance. The study concludes that taxation of digital economy has no influence in enhancing tax implications in Nigeria. The study recommends that governments should maintain their investment in capacity building and expertise development for tax authorities and practitioners working with digital companies, as this would enhance tax compliance and enforcement within the digital economy.
dc.description.sponsorshipSelf-Sponsored
dc.identifier.citationOlumoh, Y. A, Abdulrasheed, A. T., Sanni, M., Ibrahim, S., Oluwole, S. A., & Salman, R. T. (2024). Impact of Taxation of Digital Economy on Tax Implications for Businesses Operating in Nigeria. POLAC International Journal of Economics and Management Science, 10(1), 118-131.
dc.identifier.issn2756-4428; www.pemsj.com
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/1576
dc.language.isoen_US
dc.publisherPOLAC INTERNATIONAL JOURNAL OF ECONS & MGT SCIENCE (PIJEMS)
dc.relation.ispartofseries10; 1
dc.titleIMPACT OF TAXATION OF DIGITAL ECONOMY ON TAX IMPLICATIONS FOR BUSINESSES OPERATING IN NIGERIA
dc.typeArticle
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