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Taxation and economic development in nigeria pdf

economy. necessary condition for effective socio-economic development. resources, encouraging saving, investment and redistributing the fruit of economic development among members of the society. The resistance to pay tax by the people will make the state to have low revenue hence the cost of proving more facilities is borne by the government, making government expenditure to increase rapidly. Hence, key focus areasboth corporate taxation and personal income tax negatively influence economic growth. Petroleum profit tax is a major source of the income being generated by the Federal Government of Nigeria. Findings indicated that a long run (but no short run) relationship existed between taxation and economic growth in Nigeria. TAX CULTURE AND ECONOMIC DEVELOPMENT OF THE SECOND TIER GOVERNMENT IN NIGERIA (A case study of Edo State) CHAPTER ONE INTRODUCTION 1. development on economic growth in Nigeria, using quarterly data. ECONOMIC REPORT ON NIGERIA 2015 1 INTRODUCTORY REMARKS This special edition of the Economic Report on Nigeria aims at serving a dual purpose. Taxation plays a very important role in the economic life of a developing country like Nigeria. The focus of this paper is to evaluate the economic contribution of petroleum profit tax to the growth of Nigerian economy, and the enhancement of the economic well being of its citizens. Toye (2008) asserted that the link between taxation and economic development is a link between a universal desire and a form of government action that is believed to be a means to that end. ABSTRACT; This research is proposed to investigate taxation as a fiscal policy tool – on its use in solving economic problem such as inflation reduction, harmonization of policies on tax as it relates to government policies and conflict in objectives, inequality, multiple tax problem etc. Ocheni, Faculty of Management Science, Kogi State University, Anyigba, Nigeria. TAXATION AS AN INSTRUMENT OF ECONOMIC DEVELOPMENT IN NIGERIA. This would help to better understand and appreciate how human capital development affect economic growth on a quarterly basis since most of the previous studies in Nigeria have basically focused on yearly analysis. For the purpose of this study, the major source of data was a secondary source. The Bill, if passed into law, will grant a ten-year tax holiday to any new company established in an area with no electricity, water or tarred road. Other specific objectives are: To examine the …become a serious constraint on sustainable rural development1. Despite this dominance, its exports to rest of Africa are estimated at 12. To this end, one of the most important policy upon whichTAXATION OF FINANCIAL ASSETS AND CAPITAL MARKET DEVELOPMENT IN NIGERIA ENO L. The objectives of this study The main objective of this study is to examine the impact of petroleum profit tax (PPT) on economic growth (proxy by GDP) in Nigeria. Jul 09, 2018 · This Research Work is on TAXATION AS A TOOL FOR ECONOMIC DEVELOPMENT OF NIGERIA (A STUDY OF FEDERAL INLAND REVENUE SERVICE). Exports and government revenues are driven largely by oil, while most Nigerians work in agriculture. Using secondary data gotten from the CBN statistical bulletin with the help of regression as a statistical tool, we analyzed the postulated hypothesis which dwelt on the relationship that exist between taxation and Economic development in Nigeria. First, it serves as an instrument for engaging the new Administration of the Federal Government on the policy imperatives for sustainably transforming the Nigerian economy. It assists the government to achieve the country’s macroeconomic objective in the areas of fiscal andJan 10, 2020 · This research work focuses on the impact of Taxation on the economic development in Nigeria from 1988-2018. institutions have been known to play a significant role in economic development. The main objective of this study is to examine the impact of corruption on sustainable economic growth and development in Nigeria. Today, Nigeria is indeed in dire need of effective and efficient tax system in order to generate enough revenue that will stimulate economic growth and development (Oji, 2000). Empirical Analysis of Indirect Taxation and Economic Development of Nigeria Prof. of petroleum profit tax (PPT) on economic growth in Nigeria. Mobilizing interest groups (business organizations, trade unions, and consumer organizations) to support, oppose, and propose tax reforms, has been central in this connection. However, the correlation between corporate income and economic growth is more robust. The study investigated the impact of tax gaps on economic development in Nigeria on the hypothetical premises that there is an insignificant effect of tax gaps on per capita income, human capital index,the pertinent question is “How far can tax incentives go in facilitating economic development and employment generation?” The economic growth of any nation is measured by her Gross Domestic Product (GDP). Personal income taxation reduces the returns to education so must reduce the accumulation of human capital. ABSTRACT. An important function of these institutions in the process of development, development of Nigeria and the composition of GDP which is a measure of economic development. Organization for Economic Co-operation and Development (OECD), define tax as a payment which must be paid by people to the government. 7%, and only 3. revenue realized from taxation is a major source of revenue to the Government of Nigeria, and as such is an important tool used in the development of Nigeria and her economy. 3. 2. An efficient and modern payment system is positively correlated with economic development, and is a key enabler for economic growth. The research work will discuss in detail the impact of taxation as an aid to Economic Development in Edo State. 1 BACKGROUND TO THE STUDY The relative roles of the three tiers of government—the federal government, the state governments, and the local government authorities (LGAs)—in public service delivery has emerged as …evidence between investment and economic growth in Nigeria exist yet such on the relationship between corruption and economic growth and development is lacking hence the choice of this topic. Nigeria accounts for nearly 20% of continental GDP and about 75% of the West Africa economy. Taxation is a civil responsibility which its assessment is in accordance with all established cannon; the principle of equity, convenience and productivity. According to the International Monetary Fund (IMF), Nigeria’s GDP for 2011 was US$238. . Economic development is constrained by inadequate infrastructure, electricity,infrastructure, and social security. The Financial Sector and Poverty Alleviation. The remainder of this paper is structured as follows: Section two provides the theoreticalprovisions for tax incentives for economic growth and creation of employment opportunities is currently under consideration by the National Assembly. Issues of taxation and development, which have long been a central concern of the IMF, have attracted wider and renewed interest in the last few years. Tax payment is a voluntarily contribution imposed by the Government on personal income earners, companies, investors, exporters, importers etc. 7% of total trade is within the Economic Community of West African States. This paper reflects on three broad lessons of experience: that developing countries differ vastly in tax matters, and inThis thesis is on the Impact of Petroleum Profit Tax on the economic development of Nigeria. An effective state requires a social contract between a ruling elite and its population, based on a political settlement that allows the elite to collect taxes without excessive coercion in return for delivering basic security and essential public goods. Moreover, Federal Minister of Finance said that tax is not paid voluntarily or donations, but it is a contribution that is enforced by thePROECT TOPIC: THE IMPACT OF TAXATION AS AN AID TO ECONOMIC DEVELOPMENT includes abstract and chapter one, complete project material available THE IMPACT OF TAXATION AS AN AID TO ECONOMIC DEVELOPMENT IN EDO STATE (A CASE STUDY OF OREDO LOCAL GOVERNMENT AREA, EDO STATE, NIGERIA) PROPOSAL The research work will discuss in detail the impact of taxation as an aid to Economic Development …Nigeria has enjoyed relatively strong economic development over the past seven years but poverty is still a major concern. The study was aimed at examining the impact of taxation as a tool for economic development of Nigeria, with a reference to Federal Inland Revenue Service. Base on this analysis this research intends to examine the relationship between taxation and economic development in Nigeria. 9 billion making Nigeria number 41 in the world. The result also, revealed a significant positive relationship at 5% level of significance between Petroleum profit tax, Company Income tax and economic growth, but a negative relationship between economic growth and customs and Excise Duties. With all these explanations and analysis the null hypothesis is rejected and the alternate hypothesis which states that federally tax revenue generation has a positive impact on the economic development of Nigeria is accepted. To drive development and modernization of our payment system in line with Nigeria‘s vision 2020 goal of being amongst the top 20 economies by the year 2020. In simulations of economic growth models the effect of taxation on growthThe paper analyzed the impact of taxation on economic development in Nigeria as it concerns value-added tax (VAT), Company Income Tax (CIT) and Petroleum Profit Tax (PPT). Its primary objective is to ascertain the Impact of Petroleum Profit Tax on the growth of Nigerian economy for the period 2000- 2010. It will also take cognizance of the aims and objectives of taxation and its impact on the economic developments of Nigeria. The development of an effective tax administration also stimulated the development of institutions in other parts of the public sector. INANGA and CHIDOZIE EMENUGA AF ARCH IV 104738 RESEARCH CONSORTIUM A RECHERCHE ECONOMIQUE EN AFRIQUE . 1. ABSTRACT Using time series data of 17years period (2000- 2016), this study investigated the impact of indirect tax on economic development of Nigeria. Corporate taxation affects the return to innovation and hence must affect the optimal amount of research and development. In sum, both the formal and informal financial sectors in Nigeria are not currently in a position to effectively support a strong expansion of the real sector and maximize their contribution to economic growth and development. Szarowska (2010) conducted a study of the changes in taxation and their impact on economic growth in the European Union. The Nigeria tax system features a wide and mixed range of statutes by which various governments in thePetroleum Profit Tax is a major source of revenue for the Federal Government of Nigeria to meet its statutory obligations of ensuring the economic development of Nigeria. 2 ECONOMIC DEVELOPMENT AND GROWTH Development in human society is a one-sided process; this in turn remained the goalsgrowth seems self-evident. Hence, key focus areasThis topic company income tax on economic growth in Nigeria we cover all the 36 states of the federation and Abuja and the entire economy but the writer intends to limit this topic to only Lagos and Ogun state due to financial handicap, distance and time constraints. Specifically, thethe health care and education sectors and examination of impediments to past economic development, a development model applicable to Nigeria, the efforts made and the challenges facing the country in achieving the MDGs, and the role of foreign development partners in complementing Nigeria’s development efforts

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