COMPLIANCE WITH TAX-RELATED REQUIREMENTS AMONG EMERGING RETAIL ENTERPRISES
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Abstract
Emerging enterprises often struggle to comply with tax related requirements for fear of paying tax. As a result, they lose to benefit from Government-led assistance programmes. A survey was carried out in emerging retail enterprises based in Johannesburg by gathering quantitative and qualitative information. The research was helpful for shading light on the extent to which emerging enterprises benefited from training programmes that are helpful for writing up business plans and for securing business loan applications from money lenders. As part of the survey, the level of skills in entrepreneurship was measured. The survey identified 3 influential factors. These were the generation of profit, writing up sound business plans, and the availability of fixed assets, savings and other forms of collateral for securing business loans. The results found a significant association between profitability and satisfactory compliance with tax related requirements.
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