TAX HARMONIZATION AND BUSINESS COMPETITIVENESS IN NIGERIA
Abstract
The need for tax harmonization stems from the existence of multiple, cumbersome, conflicting and
competing tax regimes that have become a bane to business growth. The issue of multiple taxation
has negatively affected many business operations resulting into business collapse, depleting capital
base of listed firms, and depleting returns on investment. The study adopts a conceptual approach in
analyzing the link between tax harmonization and business competitiveness in Nigeria. The study
opined that the incidence of multiple taxation brings about hostile business environment for many
businesses in thereby reducing their global competitiveness. The study further opined that
harmonization of tax base, stimulates revenue mobilization, creation of a better business and
investment climate in a country and mitigates or eliminates adverse tax competition. The study
concludes that harmonization of tax promotes business competitiveness as oppose to tax competition
or conflict that negatively affects business, trade and investment. In the light of the foregoing, the
study suggests institutional and tax institutional reforms to harmonize and coordinate tax in order to
create a conducive business environment that will stimulate business, trade and investment in Nigeria
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Published in Journal of Finance, Governance & Strategic Studies
ISSN: 2714-2573
This article appears in our peer-reviewed academic journal
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