the impact of double taxation on business sustainability in kayunga district, a case study of small and medium entreprises of kangulumira sub-county.

Description

Taxation is one of the major fiscal policies of any nation such as Uganda can use to achieve economic stability and in the financing of capital expenditure. Various taxes are levied upon the income, wealth, or gain of an individual, family and business firm by the government for the purpose or benefit of the general public. Tax by a simple definition is a compulsory levy by the government on personal income, business profits, interest, dividends, and commissions. Or tax is a financial charge or other levy imposed upon a tax payer which could be an individual or a legal entity from the point of view of the student researcher by a state such that failure to pay is punishable by law. Thus, taxation cannot be regarded as a voluntary payment or donation but an enforced contribution exacted pursuant to legislative authority. In modern taxation system, taxes are levied in money which could be used for myriads of functions or purposes such as expenditure on public order, protection of lives and property, economic infrastructure cures such as roads, public works, social engineering and the operation of government itself (Carrol, et al 2000). Against this back drop, this project examines the impact of multiple taxation on business sustainability in Uganda.