TANZANIA INSTITUTE OF ACCOUNTANCY.

DEPARTMENT OF ACCOUNTANCY

STUDY: THE EFFECT OF TAXATION POLICIES ON THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUM
ENTERPRISES.

A CASE STUDY OF ARUSHA CITY COUNCIL

By

Brian Lotha

DSM/BAC/21/87933

The research Proposal submitted in partial fulfillment of the requirement for the Bachelor
degree in Accountancy of the Tanzania Institute of Accountancy.

March 2024

ABSTRACT.
The study general objective is to determine the effect of taxation policies on the
financial performance of Small and Medium enterprises in Arusha city council.
The specific objectives of the study adopts cross-sectional approach, combining
qualitative which helps to determine the effect of taxation awareness and
knowledge on the financial performance of small and medium enterprises in
Arusha city council, but also to determine the effect of tax administration criteria
on the financial performance of small and medium enterprises in Arusha city
council, and to examine the effect of tax rates on the financial performance of
small and medium enterprises in Arusha municipality council quantitative data
collection methods. The data will be analyzed using Statistical data analysis
methods. The study should answer questions like, what will be the effect of
taxation awareness and knowledge on the financial performance of small and
medium enterprises in Arusha municipality council?, but also what will be the
effect of tax administration criteria on the financial performance of small and
medium enterprises in Arusha municipality council? and what will be the effect of
tax rates on the financial performance of small and medium enterprises in Arusha
district.

DECLARATION
 I, Brian Lotha, hereby declare that this project paper report is my own original

work and that it has not been presented to any other higher learning institution for

similar or any other diploma/degree award.

..................

Signature

ii

CERTIFICATION
The undersigned certify that she/he has read and hereby recommends for
acceptance by TIA, a project paper entitled: THE EFFECT OF TAXATION
POLICIES ON THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUM
ENTERPRISES. A case of ARUSHA CITY COUNCIL in partial fulfilment of
the requirement for the degree of the TIA.

Signature

iii
 COPYRIGHT

This project paper is a copyright material protected under WIPO Convention,

Berne Convention, Universal Copyright Convention under UNESCO, The

Tanzanian Copyright Act of 1999 and other International enactments, in that

behalf, on intellectual property. It may not be reproduced by any means, in full or

in part, except for short extracts in fair dealing for research or private study, critical

scholarly review or discourses with an acknowledgement, without permission of

TIA, on behalf of the Author

iv
 ACKNOWLEDGEMENT

The completion of this work would not be possible without the support made by a number of

individuals. It is difficult to mention all people who have directly or indirectly helped me for the

entire duration of the study.

I must express my heart acknowledgement to my guardians Mr. and Mrs. Lotha and my

supervisor Mr. P. Modest for the skillful and dedicated guidance, valuable critics and easy

accessibility during the entire period of this.

The successes of this work also depended much on data and information collected from the

different sources in Arusha city council. I would like to take this opportunity to thank the Arusha

city council department of accounts and all that assisted me in one way or another.

Furthermore, I would like to acknowledge the contribution of all lectures of Tanzania Institute of

Accountancy who facilitated the course work studies and my fellow students and all Bachelor

degree of Accountancy students for their good discussion.

TABLE OF CONTENT
ABSTRACT....................................................................................................................... i

RESERCHER DECLARATION.................................................................................... ii

RESEARCH SUPERVISOR’S CERTIFICATION..................................................... iii

COPYRIGHT................................................................................................................... iv

ACKNOWLEDGEMENT............................................................................................... v

TABLE OF CONTENT.................................................................................................. vi

LIST OF TABLES........................................................................................................... x

LIST OF FIGURES........................................................................................................ xi

LIST OF APPENDICES............................................................................................... xii

LIST OF ABBREVIATIONS..................................................................................... xiii

DEFINITIONS OF KEY TERMS.............................................................................. xiv

CHAPTER ONE............................................................................................................... 1

INTRODUCTION............................................................................................................ 1

1.1 Background of the Problem...................................................................................... 1

1.2 Statement of the Problem.......................................................................................... 3

1.3 Significance of the Study.......................................................................................... 4

1.4 Objectives of the Study............................................................................................. 5

1.4.1 General objective.................................................................................................... 5

1.4.2 Specific objectives.................................................................................................. 5

1.5 Research Questions.................................................................................................... 5

1.6 Scope of the Study..................................................................................................... 6

CHAPTER TWO.............................................................................................................. 8

LITERATURE REVIEW................................................................................................ 8

2.1 Theoretical Literature Review.................................................................................. 8

2.1.1 Consumer theory..................................................................................................... 8

2.1.2 Cumulative prospective theory.............................................................................. 9

2.2 Empirical Literature Review................................................................................... 10

2.2.1 Driven factor for community to choice health insurance.................................10

2.2.2 Individual opinions on health insurance services.............................................. 11

2.2.3 Challenges faced people on choosing health insurance scheme......................13

2.4 Information Gap....................................................................................................... 15

2.5. Conceptual Frame Work........................................................................................ 15

CHAPTER THREE........................................................................................................ 17

RESEARCH METHODOLOGY................................................................................. 17
3.1 Study Area................................................................................................................ 17

3.2 Research Design....................................................................................................... 17

3.4 Data Collection Methods and Tools...................................................................... 17

3.4.1 Interview................................................................................................................ 18

3.4.2 Documentary review............................................................................................ 18

3.5 Sampling of Respondents........................................................................................ 18

3.5.1 Sampling frame..................................................................................................... 18

3.5.2 Sampling unit........................................................................................................ 18

3.5.3 Sample size............................................................................................................ 18

3.5.4 Sampling procedure.............................................................................................. 19

3.6 Data Processing, Analysis and Presentation......................................................... 19

3.6.1 Data processing..................................................................................................... 19

3.6.2 Data analysis......................................................................................................... 20

3.6.3 Data presentation.................................................................................................. 20

3.7 Limitations of the Study.......................................................................................... 20

REFERENCES............................................................................................................... 35

1.INTRODUCTION:
The aim of this research is to assess the effects of taxation policies on
performance of small scale and medium enterprises in Arusha municipality
council. The study will look into how certain changes in government policies
especially changes in taxation policies will affect the performance of small and
medium businesses.

1.1 BACKGROUND OF THE STUDY.

Alabi, David, and Aderinton (2019) asserted that in today’s world small and
medium scale enterprises (SMEs) is one of the most authentic drivers of
sustainable development, especially in the emerging economies. This view was
also shared by other Indian based researchers namely Raravi and Timnagoudar
(2014) who stated that SMEs are vital and of paramount importance to countries
especially for developing country like India.

Taxation is a charge levied on citizens and companies. Tee, Baadi, and Opoka
(2016) define tax as an obligating payment which the country imposes on its
citizens, firms and organizations not as penalty for offence or immediate
exchange of goods but as income to enable government to meet its expenditures.
Revenue generated from taxation is used by the government to meet its
expenditures and cater for the needs of the public. Government charges various
taxes in order to generate revenue. Some of the tax systems found in Zimbabwe
are cooperate tax, value added tax (VAT) and pay as you earn (PAYE). Njanike
(2019) states that the challenges faced by small businesses has caused them not
to grow that is low profitability and depressed growth. The research seeks to find
the impact of government taxation policies on the performance of SMEs.

Taxation has become one of the major causes of poor performance of SMEs.
Chude and Chude (2015) pointed out that taxation had significant impact on
cooperate profitability. William (2017) also agrees that taxation policy is one of
the government policies that affect businesses directly because taxation is based
on the amount earned by businesses. However, Ibrahim and Muritala (2015) state
that businesses can pass some of this tax on to consumers in high prices but it will
affect the bottom line. On the other hand, Irongwe and Peter (2015) argue that
value added tax (VAT) has no direct bearing on cooperate financial performance
since the burden is simply passed.

1.2 Statement of the problem.

Business financial performance in many small and medium enterprises in Arusha

city council remains in the informal sector since they perceived benefits outweigh
the perceived tax costs. Small business enterprises are not growing and the many
of them have closed down attributed to decline in number. The concern taxable
capacity on business financial performance is a challenge.

Despite the above however poor taxation policies like high tax rates, multiple
taxation, complex tax regulations, and lack of proper enlightenment or education
about related issues affect the performance of SMEs. The concern taxable
capacity on small and medium enterprises on the financial performance of SMEs
in Arusha district. In Arusha district, many SMEs have failed to achieve sustainable
growth, therefore government have to come up with rescue package to bail out
their financial systems., they are not aware about the taxes and as a result they
do not survive in the competitive market.

1.3 Objective of the Study.

The objective of the study is to determine the effect of taxation policies on the
financial performance of Small and Medium enterprises in Arusha municipality
council

1.4 Specific objectives of the Study

 To determine the effect of taxation awareness and knowledge on the

financial performance of small and medium enterprises in Arusha
municipality council .
  To determine the effect of tax administration criteria on the financial
performance of small and medium enterprises in Arusha municipality
council

 To examine the effect of tax rates on the financial performance of small and
medium enterprises in Arusha municipality council

1.5 Research questions

 The study will guided by the following research questions;

 What will be the effect of taxation awareness and knowledge on the

financial performance of small and medium enterprises in Arusha
municipality council?

 What will be the effect of tax administration criteria on the financial

performance of small and medium enterprises in Arusha municipality
council?

 What will be the effect of tax rates on the financial performance of small and
medium enterprises in Arusha district

1.6. Scope of the study

 Geographical scope

The study will be carried out in Arusha district of which it is well populated with
the highest number of small and medium enterprises.

 Content scope

This study will be carried out to examine the effect of taxation policies on the
financial performance of small and medium enterprises in Arusha . The focus will
be on the dimensions which includes taxation awareness and knowledge, tax
administration criteria and intended tax pupose on the financial performance of
small and medium enterprises in Arusha .

 Time scope
The study will be conducted for a period of three months that is from July to
September 2019. This time was used in order to examine the effect of taxation on
the financial performance of Small and Medium Enterprises in Arusha.

1.7.Significance of the study

The study will be profitable to a number of parties. First, to scholars and

researchers, the findings of the study will contribute information and knowledge
to the existing literature about taxation policies and financial performance of
SMEs in Arusha.

Secondly, the tax authority and government will benefit since the study will
provide suggestion that will guide them in adjusting tax policies so that they
understand the requirements of small-scale enterprises.

CHAPTER TWO

LITERATURE REVIEW

2.0 Introduction
This chapter will review and defines the key study terminologies and gives
theoretical review, empirical review, research gap and conceptual framework .it
also presents some important literatures reviews that relates to the research
problem under the case study. this review will help the researcher to see how the
research question had been addressed by other researchers and how they
proposed

Definition of key concept

2.0.1 Taxation policies.

Tax is a compulsory levy imposed on individual's income and consumption of

goods by relevant authority. The tax is the charge imposed by the government
upon individuals and corporations to raise revenue. Taxation is being employed to
achieve many objectives involves raising revenue required to meet the
government expenditure, wealth distributions, economic price stability and
economic development and financial performance. The effort has been made to
examine taxation as a tool for revenue financial performance in the country for
structural developments, but the issues relating to taxation as a tool for financial
performance and enterprise sustainability have been not considered (Enahoro,
2012). In America states, taxation policy is supported with aim to encourage tax
restructuring to raise revenue for public activities (Fashola, 2009).

According to Adams (2010) an American businessman, taxation is a burden in

which citizens must bear to sustain their government since the government has
certain activities for the benefits of those in it governs. Though taxation may not
be most significant source of revenue to the government in terms of enterprise
size, however, taxation is important raising government revenue from the point
of view of business certainty but not consistency in performance. Despite the
inherent power of government to impose taxes, identifying the means of
taxations has been used to promote fiscal distributions of income, but not identify
the problems that militate against the use of taxations as financial performance in
small enterprise.

2.2.2 Tax awareness and knowledge.

Tax awareness refers to a situation where the taxpayer knows what the tax is,
where to pay, when to pay and how much to pay. The degree of information
about the tax is an important factor on the behavior of the tax payers and how it
influences tax evasion. Less educated taxpayers are less exposed to tax
compliance information and are less informed about relevant tax compliance
information and thus are more prone to tax evasion, Some tax payers find the
complexity of tax information more difficult to understand than others. This
complexity may lead to unintentional non- compliance if tax payers have
problems maybe in failing of tax returns.

2.2.3 Tax administration.

Tax administration refers to the identification of the tax payer, assessment of tax
payable, collection of taxes and enforcement of tax liability. It may also refer to a
structure or procedure of identification of potential taxpayer, collection and laws
governing taxation. Bahl(1988) asserts that much attention should be paid to
critical aspects of tax administration, training, procedures, staffing, collection and
use of information. The weaknesses in tax administration are mainly caused by
lack of relevant information about the tax payer, continued criticism of the tax
and its structure. The tax structure should be simple in order to avoid tax evasion.

2.2.4. Tax rate.

The tax rate is the amount which is charged on business enterprises, these include
corporation tax, value added tax, withholding tax among others. The Income Tax
Act gives guidance in assessment and computation of taxes. The Tanzanian
government has made some recommendable efforts to promote development
through taxation. The main objective of taxation in Hoima is to mobilize resources
needed to meet the aspiration of government. According to Manasseh (2000), a
tax is generally referred to as a compulsory levy imposed by government upon
assessments of various categories, and is a compulsory and non-refundable
contribution imposed by the government.

2.2.5 Financial performance.

According to Alfred (2007) financial performance is the measurement of how a
business entity has utilized its resources to generate revenues. Financial
performance is normally measured by the gearing ratios, profitability ratios and
the liquidity ratios. Profitability ratios of any business entity portrays the picture
of how well an entity has employed the resources efficiently, liquidity ratios deal
with the capacity of business entities to accomplish the short term obligations
and the gearing ratios indicates the extent of debt employment by the
companies. This research will rely on return on assets in the measurement of the
financial performance. The financial performance of business entities is
determined the financial statements of the business entities which are collection
of reports on the business entities financial results for a given period of time

2.2.6 Profitability

Brinker (2002) agreed with Karuru (2005) by stating that the definition of
profitability is the difference between the revenue and the operational expenses
incurred in the business. The author also added that all businesses should aim at
significantly reducing their operational expenses and aim at increasing their
incomes to maintain a positive net income. This positive net income is referred to
as a profit.

The above definitions indicate that profitability is a positive balance after

calculating the difference between the businesses sales and the operational
expenses i.e.. Profit — Sales

Expense.

2.2.7 Return on assets.

Return on assets is a common ratio used to measure profitability of a firm. It is a

ratio of net income to the total assets (Khrawish, 2011). It measures the ability of
the firm's management to generate income by utilizing company assets at their
disposal. In other words, it shows how efficiently the resources of the company
are used to generate the income. It further indicates the efficiency of the
management of a company in generating net income from all the resources of the
institution (Khrawish, 2011). Wen (2010) states that a higher return on assets
shows that the company efficiently uses its resources.

2.2.8 Liquidity.

Liquidity refers to the ability of the business entity to fulfill its obligations.
According to Dang (201 1) adequate level of liquidity is positively related with
business' profitability. S However, the study conducted in china and Malaysia
found that liquidity level of banks has no relationships with the performance
banks (Said and Tumin 201 1). Forecasts are vital for liquidity management
because they give out an early warning signal for liquidity problems by estimating
how much cash will be needed, when, for how long and whether it will be
available from planned sources (Cyle, 2000, p.

2.1 Theoretical review.

The Ability-To-Pay Theory. : The idea that people with the ability to pay more
should pay a higher percentage of their income was espoused (to express
support) by none other than Adam Smith. In the field of modern Public Finance,
the Ability to pay theory presented by an English economist- Arthur Cecil Pigou
(1877 –1959) is considered to be one of the Influential theories. The ability-to-pay
Principle of taxation maintains that taxes should be levied according to a
taxpayer's ability to pay. Accordingly, the principle holds that those individuals,
businesses, and corporations with greater ability to pay taxes—measured by
income and wealth—should pay more. Hence, the idea underlying ability-to-pay
taxation is that everyone should make an equal sacrifice in paying taxes. For
instance, if the taxable capacity of a person A is greater than the person B, the
former should be asked to pay more taxes than the latter. This theory proposes
that tax policies towards SSEs should be considerate enough to facilitate their
profitability, financial performance and survival and thus their compliance. By
assessing the impact of taxation on the financial performance and capabilities of
SSEs, this study proposes appropriate tax policies that will favor the existence of
SSEs through the determination of their ability to pay the taxes imposed by the
tax authorities..-
2.2 Summary of research gap

There is a causal effect relationship between tax policy and economic growth as
this study will demonstrate .,however ,existing tax policies either promote or slow
down Tanzania economic growth. A variety of academic studies showed that tax
policies choices have an impact on economic development, but it was not fair
from certainly that lower tax rates lead to larger economy when looked because
of the rate cut s people earn more after taxes from their current level of activities
and therefore has less need to work, save and invest while also increasing their
after tax return from working , saving and investing (gale and sam wick ,2014)

2.3 Conceptual framework.

According to Creswell (2003), conceptual framework is a basic structure of a

research consisting of a certain abstract ideas and concepts that a researcher
wants to observe or analyze.

This study will seeks to examine the impact of taxation on the financial
performance of small and medium enterprises in Arusha municipality council

CHAPTER THREE:

RESEARCH METHODOLOGY

3.3.1 Introduction

Research methodology is the collective term for the structuring process of

conducting research . there are many different methodologies used in various
types of research and term usually considered to include research design ,data
gathering and data analysis . the major focus of this chapter is to introduce the
research design, location of the study, sample size research techniques
(quantitative and qualitative), population inquiry, sampling techniques, data
collection instruments, type data collected (primary and secondary data) and data
analysis techniques which will employed in this study
3.3.2 Area of the study

This study will be done at Arusha region specifically in Arusha municipal council.
the reason behind to select this area under study was due to the availability of
various kinds of (SMEs) with range of business size and income

3.3.3 Research approach

Qantitative research approach will be more applicable to test existing theories

about people’s attitudes and behaviors based numerical and statistics. Research
will select a large number of respondents together more reliable and information.

3.3.4 Research design

A research design is the arrangement of conditions for collection and analysis of

data in a manner that aims to combine relevance to the research purpose with
economy in procedure (Amin, 2005). The study employed a descriptive-sectional
survey design, These design will minimize bias and maximize the reliability of the
data (evidenced) to be collected.

Descriptive survey design following cross sectional approach. the main reason of
choosing for the given design is because the nature of research objectives and the
data will be collected once at time from the field

According to kombo and tromp (2013) argued that descriptive focuses on

information about people’s opinions habits or any of the various educational or
social issues of the study furthermore, the study administered through
questionnaires. therefore, gave consideration to the entire essential steps
involved in the survey regarding the analysis of the effects of taxation policies on
the performance of SME'S, this study used a qualitative and quantitative
approach. Qualitative method provided data to portray the picture of the effects
of taxation policies in detail, and quantitative method provided data for statistical
purposes and for the assessment of the impact of taxation policies on the
financial performance of Small and Medium enterprises.

3.3.5 Population of the study

the population of the study comprises of all Small and Medium enterprises in
Arusha district and a total or 40 Small and medium enterprises within Arusha city
council are targeted which include whole and retail sales. hotels, salons and
petrol stations.

3.3.6 Sample size and selection

Sample size refers to the subset of a population. The sample size of the
population under study

will estimated to be 40 respondents which will be determined using the Slovene’s

forrnula.

1 + Na2

Where, NTotal Population

n = Sample size

a = Correlation coefficient (0.05)

n40/ I + 40 (0.05)2

n=40/1+40(0.0025)

n=40/0.1

n40/1.1

n=36

Therefore, a sample of respondents of 36 was selected for the study.

3.3.6. Sampling Techniques

Probability sampling simple random sampling method will used to select SMEs
respondents because any member has an equal chance to be selected

Purposive sampling is a sampling technique in which the researcher relies on his

or her judgment when choosing members of the population to participate in the
study. Purposive sampling is a non-probability sampling method and it occurs
when elements selected for the sample are chosen by the judgment of the
researcher.

3.3.7. Data Collection Methods and Approach

Types and Sources of Data Collection

This refers to where the information originates. In carrying out this study, the
researcher made uses of both primary and secondary sources of data.

primary data, are original or first in nature. The advantage of this type of data is
that the exact information wanted is obtained. The primary sources of data were
obtained from oral interview with top management staff questionnaire were also
drafted and administered to enable the researcher will obtain wide range of
information which were not possible using oral interview due to lack of time and
opportunity.

Secondary data: the secondary source of data involves information gotten from
already conducted research work that relates to the study or is the second hand
informational which already conducted. This includes textbooks, journals,
magazines, internet language to avoid ambiguity in understanding of the
questions. The reliability of the instrument is based on the accounting theorist.

During the study, both primary and secondary data were collected. Primary data
were generated directly from the Mbeya university and other stake holders using
structured personal questionnaires. A research assistant was employed in
conducting the interview. Reasons for selecting questionnaire, method of data
collection used by researcher.

3.3.8 Data collection methods

Questionnaire

The research will use the structured questionnaire for the study. The structured
questionnaire will be applied so as to restrict the respondent to make choices
from a fixed range of answers. This is a technique that was used by the researcher
to collect data from the respondents. In this method the questionnaire will be
prepared based on research objective and then distributed to potential
respondents with request to answering the questions (Bryman, 2018)

Validity Testing

Validity deals with personal settings and times to which findings can be
generalized . He defines validity as the extent to which the instrument actually
accomplishes what it seeks to measure.

Validity aspect was be observed in this research during planning and

implementation stages. During the planning stage, an expert was be consulted to
check the questionnaire before actual data collection. All questions where be
pre-tested in the relevant study areas. Modifications where be made before
actual data collection for the purpose of measuring theoretical meaning of
concepts and consistency of language used to represent concepts thus, validity
test.

3.3.9 Management and Analysis of Data

Data Cleaning is a two-step process including detection and the correction of

errors in a data set. The raw data needed sorting out, recording and checking so
as to discover various types of errors as well as irregularities. The data with
desired completeness, uniformity and accuracy was accepted as well and was
edited accordingly ready for further processing. The basic purpose of editing will
be to improve some minimum quality standards in the raw data. Incomplete
questions are not anticipated because the researcher assistant administered
them.

Data analysis
The researcher employed mostly statistical tools to analyses the data though, to a
lesser extent, qualitative analysis was performed. Coding and tabulation of data
may become necessary to see if there could be patterns and meaningful
interpretations. A Statistical Package for Social Science (SPSS) program served to
generate frequencies and higher statistical analysis such as correlation coefficient.

The appropriate analytical method for quantitative data in social science depends
on the type of measurement scales used and parameters being investigated
(Kothari, 2004). The study collected data that measure the relationship between
microfinance services and household livelihoods.

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