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The Effects of Tax Avoidance and Evasion on the Nigerian Economy

The Effects of Tax Avoidance and Evasion on the Nigerian Economy

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Reference ID: PS-580-TM

DEDICATION

This research material titled “The Effects of Tax Avoidance and Evasion on the Nigerian Economy” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Taxation, Book Authors and Profound Scholars of existing or related project material on “The Effects of Tax Avoidance and Evasion on the Nigerian Economy” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION


    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”


    The Effects of Tax Avoidance and Evasion on the Nigerian Economy

    CHAPTER ONE

    1.0 Introduction

    1.1 Background of Study

    In Nigeria their so many form of taxation dating back of the days of our great ground father whose by communities dated themselves through communal labour to prosecute community projects. Taxation is process on machinery by which group or communities made contribution from their income in some agree amount and method for the purpose providing amentias for the society.

    It is important to note that the present tax has in Nigeria was been out of the Rouseman's Commission of inquiry of last. But before that, we only had what was called the income tax ordinance for the colonies and which was very similar Raismars recombine nature was the basis for providing in section to, subsection of the Nigeria prospects for reform (Anarticle published in Business Time on May 20, 1786).

    Taxation can be divided in two basic profiles we have the direct taxation sand indirect tax is based on ascertainment of income rather on individual a group of individuals co-operate bodies and institution under this was have personal income tax and company income tax. The personal income is one which of individual is assessed and resident by the state on those individual resident in the state, which the companies income tax is cleared on corporate bodies is the responsibility of federal government through the federal board of inland revenue indirect taxation is lived on consumption of goods or services and each of consumption.

    In various countries, various government rely heartily on taxation on as in aid to encouraging capital formation policy.

    In a developing economy, tax may be collected strutted in such way that the high may be collected and even raise revenue for the economy of the country.

    Present Day Taxation In Nigeria

    Taxes are one of the major sources or revenue for all government in Nigeria.

    The taxes collected income back to the tax payer in the form of social amenities, like building as school, hospital.

    Nigeria tax is an assessment imposed by the State of Federal Government to enable them provide service for Nigeria citizens present day tax administration in Nigeria is guided by the following Act Decree:

    1. Income tax management Act (ITNIA) 1961. This governs the taxation of individual. (Individuals, trustees, executors, partnership and families) the Act was amended by the finance (miscellaneous taxation provision) Decree 1986,1983,1990,1992, 1994 and 1996.
    2. Company Income Tax act (CTA) 1979, this registered companies. It also suffered some amendments.
    3. Petroleum Profit Tax Act (PPTA), 1959 as amended this Act regulates the assessment and collection of petroleum. Tax payable by entries that engage in the secretion and sale of petroleum oil in Nigeria.
    4. Capital Gains Decrees (CGD), 1976, this was introduced by Decree 44 of 1967. it takes care of gain accruing to any person on or after 1st of April 1967 on the disposal of fiscal assets.

    1.1 Statement Of Problem

    Investigation revealed that the existence of tax evasion and tax avoidance in Nigeria tax system poses a lot question in the inquisitive mind of some people especially in the board of inland revenue as to the way and how of this existence.

    This brings about reactions from various sections of the economy. This reaction are the problems this research work going to address itself to.


    1.2 Objectives Of Study

    Based on the statesman of problem this study, the write intends to x-ray the following issues as decide the mind of the public:

    Reason for tax evasion and avoidance

    1. To x-ray the impact of tax avoidance
    2. To make recommendations the board on Inland Revenue.

    1.3 Statement of Hypothesis

    In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

    Hypothesis I

    • Null Hypothesis (H0):

      Revenue generated form tax has a negative impact on the development of Nigerian Economy.

    • Alternative Hypothesis (H1):

      Revenue generated from tax has a positive impact on the development of Nigerian Economy

    Hypothesis II

    • Null hypothesis (H0):

      That tax aviation and avoidance has created a reduction in the revenue generated from tax

    • Alternative Hypothesis (H1):

      That the revenue generated from tax is more merger compare to revenue generated from other source as such government cannot do without tax.


    1.3 Significance Of Study

    The way in this term paper has been planned and carried out off enough information and explanation to inquisitive minds. This project is aimed to beneficial to the following:

    Though this term paper, enough awareness will be created so that the public attitudes of not paying tax will be nullified.

    This term paper will offer a source of secondary data collection forming research student

    The Board of Inland Revenue, this enable to know how they will treat any tax evader they come across.

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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