Tax Reforms And Revenue Generation In Nigeria
🎓 Are you a final year student? Get project topics and ideas with materials
The research provides a conceptual and analytical appraisal of tax reforms and revenue generation. The study seek to determine the effectiveness of tax reform policy toward achieving high revenue to government and public utility.It analyses the concept of taxation,types and significance.
The tax system in Nigeria is made up of the tax policy, the tax laws and the tax administration. All of these are expected to work together in order to achieve the economic goal of the nation. According to the Presidential Committee on National tax policy (2008), the central objective of the Nigerian tax system is to contribute to the well being of all Nigerians directly through improved policy formulation and indirectly though appropriate utilization of tax revenue generated for the benefit of the people. In generating revenue to achieve this goal, the tax system is expected to minimize distortion in the economy. Other expectations of the Nigerian tax system according to the Presidential Committee on National tax policy (2008) include;
- Encourage economic growth and development.
- Generate stable revenue or resources needed by government to accomplish loadable projects and or investment for the benefit of the people
- Provide economic stabilization.
- To pursue fairness and distributive equity
- Correction of market failure and imperfection.
In an attempt to fulfill the above expectation, the national tax policy is expected to be in compliance with the principle of taxation, the lubricant to effective tax system. The Nigerian tax system has been flawed by what is termed multiplicity of tax and collecting entities at the three tiers of government levels – Federal, State and Local government (Ahunwan, 2009).
Background Of The Study
According to the report of the presidential committee on National Tax policy (2008), Tax policy formulation in Nigeria is the responsibility of the Federal inland Revenue Services (FIRS), Customs, Nigerian National Petroleum Corporation (NNPC), National Population Commission (NPC), and other agencies but under the guidance of the National Assembly i.e. the law making body in Nigeria (Presidential committee on National tax policy, 2008). Suffice it to say that if there must be any effective implementation of the Nigerian tax system or attainment of its goal, the use of the national tax policy document remain absolutely essential.
According to the Presidential Committee on tax policy (2008), “Nigeria needs a tax policy which does not only describe the set of guiding rules and principles, but also provide a stable point of reference for all the stakeholders in the country and upon which they can be held accountable. James and Nobes (2008) decried the inability of tax policy to meet up with efficiency and equity criteria against which it is being judged.
It was further noted that tax policy is continually subjected to pressure and changes which most time does not guarantee outcome that are in line with the overall goal (James and Nobes 2008). Unfortunately, most policy changes in Nigeria are without adequate consideration of the taxpayers, administrative arrangement and cost plus the existing taxes. This has in no small measure hindered the effective implementation and goal congruence of the nation’s tax system. Citing (Bird and Oldman 1990), James and Nobes (2008) stated as follows “
🔐 Your payment is secured
Samphina Academy is a reputable online educational resource centre that is duly registered with the CAC (Corporate Affairs Commission) under the federal law with RC:- 2887147.
The complete material will be sent to you in just 2 steps. Quick & Simple
Make payment of ₦3,000: through USSD Transfer, Bank Mobile App, ATM Transfer, or POS Transfer to:
- 0811003731, Access Bank, Samphina Academy
Send the following details through Text Message or WhatsApp Messenger | 08143831497
- Payment Details
- Email Address
- Tax Reforms And Revenue Generation In Nigeria
The complete material will be sent to your email address after receiving your payment information | Terms and Conditions Apply
All the research materials on this website are ONLY for research purposes and should be used as guidelines in developing your research or project works. For no reason should you copy word for word (verbatim) as samphina.com.ng will not be liable for any who copied the material.
The aim of providing these materials is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”.
samphina.com.ng will only provide papers as a reference for your research. The papers ordered and produced should be used as a guide or framework for your own paper. The contents of the papers should be able to help you in generating new ideas and thoughts for your own project. It is the aim of samphina.com.ng to only provide guidance by which the paper should be pursued. Use it as a guidance purpose only.
Research Topic: Tax Reforms And Revenue Generation In Nigeria