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The Efect of Tax Planning and Management on Corporate Financial Organization

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The Effect of Tax Planning and Management on Corporate Financial Organization.

TABLE OF CONTENTS

DECLARATION/ CERTIFICATION

DEDICATION

ACKNOWLEDGEMENT

ABSTRACT

CHAPTER ONE INTRODUCTION

1.1 Background of the Study

1.2 Statement of problems

1.3 Objectives of the study

1.4 Research questions

1.5 Research Hypotheses

1.6 Significance of the study

1.7 Scope of the study

1.8 Limitation of the study

1.9 Definition of terms

CHAPTER TWO LITERATURE REVIEW

2.1 Introduction

2.2 Theoretical Review

2.3 Tax planning theory

2.4 Conceptual Framework

2.5 The effect of tax planning and management on corporate Financial Organization

2.6 Problems of Tax planning and management

2.7 Summary of the literature review

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction

3.2 Research Design

3.3 Target Population

3.4 Data Collection

3.5 Diagnostic Tests

3.6 Data Analysis

3.6.1 Tests of Significance

3.7 Model framework and estimation

CHAPTER FOUR DATA ANALYSIS,  FINDINGS AND INTERPRETATION

4.1 Introduction

4.2 Diagnostic Tests

4.3 Test of Hypothesis

4.4 Discussion of Research Findings

CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction

5.2 Summary of Findings

5.3 Conclusion

5.4 Recommendations

5.5 Limitations of the Study

REFERENCES

INTRODUCTION

Background of the Study

The concept of taxation has been a concern of global significance as it affects every economy irrespective of national differences (Oboh ET La., 2014).

Within the context of Africa, tax, a concept as old as mankind can be described as an amount ,effort, contribution or service rendered either in kind (goat, cow, farm produce, clearing of grass etc.) or monetary value contributed, into a common purse for the running of the society.

Since the administration of a public held corporation is an agency relationship between the shareholders (principals) and management (agents), necessary is laid on management to act in utmost good faith and discharge their responsibilities diligently in a manner the owners (shareholders) would have done so as to enhance the market value of the firm.

Hence, all material matters regarding the operations of the firm including financial performance and position should be disclosed timely and accurately by management. To this end, there is need for effective monitoring of management by shareholders in order to promote fairness, transparency, and accountability.

A review of extract previous literatures, reveal, that the utmost interest of shareholders is wealth maximization, and one reliable means of achieving this, is through cost minimization.

Okoye and Akenbor (2010) claimed that one of the cost of doing business and therefore constitute a serious barrier to wealth maximization is taxation in order to minimize the cost of taxation, tax planning and management becomes imperative for management of corporate organization. Tax planning is the analysis of a financial situation or plan from a tax perspective.

The purpose of tax planning is to ensure tax efficiency with the elements of the financial plan, working together in the most tax efficient manner possible. Tax planning is an important part of a financial plan, as reducing tax liability and maximizing eligibility to contribute to retirement plans are both crucial for success.

REFERENCES

Abdul-Wahab,N.,&Holland,K. 2012). Taxplanning, corporate governance and equity value. The British Accounting Review, 44(2),1-14.

Andow,H.,&Bature,M.(2016).OwnershipstructureandthefinancialperformanceoflistedconglomeratefirmsinNigeria.TheBusinessandManagementReview,7(3),

Ang,S.,Cole,A.,&Lin,J.(2000).AgencyCostsandOwnershipStructure,TheJournalofFinance,55:(1),81-106

António, M., 2015). The Portuguese corporate tax reform and international trends: an assessment. International Journal of LawandManagement,57(4):281–299.

Ayako. A., Kungu, G.,& Githui,T.2015). Determinants of the Performance of Firms Listed at the Nairobi Securities Exchange. Research Journal of Finance and Accounting, 6(12),157-164

Bouba,I.2011). Financial Performance Measurement of Manufacturing Small and Medium Enterprises in Pretoria: AMultipleExploratoryCaseStudy.UnpublishedProject.UniversityOfSouthAfrica

BoultonTJ,Braga-alvesM.,&ShastriK.(2012).PayoutpolicyinBrazil:Dividendsversusinterestonequity.JournalofCorporateFinance,18(4),968–979.

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