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     2026:5/3

International Journal of Judicial Law

ISSN: (Print) | 2583-6536 (Online) | Impact Factor: 8.09 | Open Access

A qualitative study on the effect of access to finance on the growth motivation of micro-and small enterprise owners in the Philippines

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Abstract

This study examined the impact of non-oil tax revenue on economic growth in West African countries. Specifically, the study sought to: examine the impact of Value Added Tax on economic growth in West Africa; examine the impact of corporate tax revenue on economic growth in West Africa; determine the impact of personal income on economic growth in West Africa. The variables used in the study were value added tax (VAT), corporate income tax (CIT) revenue, personal tax revenue (PIT) and real GDP growth and were collected over the period 1990 to 2020 from the World Bank database (WDI ) 2021. A sample of five (5) West African countries namely Nigeria, Ghana, Mali, Togo and Burkina-Feso out of twenty (20) West African countries were used in the study. Generalized panel least squares was the method of data analysis. Empirical results showed that value added tax (VAT) revenue has a positive and significant impact on economic growth in West Africa; corporate income tax (CIT) revenue has a positive and significant impact on economic growth in West Africa; capital gains tax (CGT) revenue has a positive and significant impact on economic growth in West Africa and personal income tax (PIT) revenue has a positive but insignificant impact on economic growth in West Africa. This study concludes that there is a positive and significant impact of non-oil tax revenue on economic growth in West Africa. Non-oil tax revenues contribute to an average 46 percent increase in economic growth in West African countries. The study recommended that the tax authorities of West African countries engage in a complete reorganization of the corporate income tax (CIT) administrative mechanisms.

 

How to Cite This Article

Dr. Ngwu Jerome Chukwuemeka (2022).

A qualitative study on the effect of access to finance on the growth motivation of micro-and small enterprise owners in the Philippines

. International Journal of Judicial Law (IJJL), 1(3), 06-10.

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