Accounting Record-Keeping Practices and Tax Compliance of Small and Medium Scale Enterprises in the Sekondi-Takoradi Metropolis of Ghana

Charles Ayariga


The purpose of the study was to investigate accounting record-keeping practices and tax compliance of Small and Medium Scale Enterprises (SMEs) in the Sekondi-Takoradi Metropolis (STM) of Ghana. The study adopted the concurrent triangulation mixed methods design. The study population was 895 owners/managers of SMEs and the two zonal heads of the Domestic Tax Revenue Division (DTRD). The sample size was 279. However, the study was able to collect accurate and complete data from 267 SME owners/managers and the two zonal heads of DTRD. Purposive and stratified random sampling procedures were used to select the participants and respondents, respectively. Questionnaire and interview guide were the instruments used. Mean, standard deviation, and linear multiple regression analysis were used to analyse the data. The findings revealed that SMEs in STM have poor accounting record-keeping culture; however, they exhibit a good attitude towards tax compliance. In all, the results show that an improvement in accounting record-keeping practice in the SME sector will lead to higher compliance with tax obligations ensuring the long term survival of the businesses. Based on the findings and conclusions, it was recommended to the zonal heads of DTRD that, as part of their education programmes, they should undertake record-keeping programmes to improve the quality of reporting by SMEs and other institutions to boost tax compliance.

Keywords: Accounting record-keeping practices, Motivational postures, Staff attitude, and Tax compliance

DOI: 10.7176/RJFA/11-2-04

Publication date: January 31st 2020

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