Department of Private and Business Law

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Browsing Department of Private and Business Law by Author "Akighir, Ternenge Cosmas"

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    EXAMINATION OF THE LAW ON SOLE PROPRIETORSHIP IN NIGERIA
    (DEPARTMENT OF COMMON AND PRIVATE LAW FACULTY OF LAW NASARAWA STATE UNIVERSITY KEFFI, 2019-05-08) Akighir, Ternenge Cosmas
    This research work is intended to find out how the Law On Sole Proprietorship In Nigeria, has an Urgent need for Reform with the aim of repelling obsolete provisions and deficiencies in the Nigerian tax laws and other legal requirement that affect the operations of sole proprietorship and other business which are drivers of economic success in Nigeria. This study was limited to the Doctrinal research methodology through the use of secondary sources of data, analysis of relevant legislation, statutes, policies, laws and judicial interpretation of statutes, it accommodates statistics, comparative perspectives, and data derived from the Federal Office of Statistics, SMEDAN/NBS collaborative survey of MSMEs, report from tax agencies etc. the reviewed literature showed how the concept of sole proprietorship has been affected by the laws governing its activities, government policies in taxation, fiscal policy and state policies. The research findings identified that if a conducive environment is created through proper regulation, entity equality, the MSMEs sector would thrive with the propensity to transform our economy. The researcher recommend among others the passage of the Reform Bills by the National Assembly of Nigeria to enhance private sector participation law, laws to simplify the payment of taxes, streamlining multiple taxation and the State High Court to conversely regulate practice and procedure in their respective courts and have a bench mark set to follow what the National Assembly legislates for the Federal Capital Territory.