Tax compliance amongst small and medium scale enterprises in the central business district Accra
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Date
2021
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KNUST
Abstract
The main aim of this study was to examine the level of tax compliance amongst SMEs in the central business district of Accra. The study was based on three main objectives; to explore the influence of tax awareness on voluntary tax compliance decision of tax payers; to ascertain the level of tax compliance of SMEs in Central Business District Accra; and to know the Profit Element amongst SMEs whether they should pay tax. The study was conducted amongst SMEs in the central business district in Accra. A descriptive survey technique was used for the study. The sample size for the study was three hundred and fifty-three (353) out of a population of three thousand (3000) registered SMEs in the central business district of Accra. Structured questionnaires adopted to gather primary data from the respondents. The data was analyzed using descriptive statistics. The study found that there was moderate level of influence of tax awareness on the on the voluntary tax compliance decisions of SMEs in the central business district of Accra. Again, was high level of tax compliance amongst SMEs in the central business district of Accra and the average, and the average profit of SMEs in the central business district of Accra was up to GHc 10,000. There were some recommendations to the effects that GRA officials should improve on the tax education for SMEs and organize such educational campaigns at least once a year for all SMEs in Ghana. This will go a long way to increase the tax awareness of SMEs in Ghana which may result in payment of more taxes hence generation of more revenues for the country. Again, the language used in the tax laws should be simplified to enable most of the SME owners to understand and appreciate the content of the law. Future research can be conducted in the area of tax compliance amongst petty traders (table top traders) in the Greater Accra Region. These categories of traders have not registered their business but still pay their taxes through the metropolitan assemblies.
Description
A Thesis submitted to the Department of Accounting and Finance College of Humanities and Social Sciences In partial fulfillment of the requirements for the degree of MSc accounting and finance