Full Project – IMPACT OF EFFECTIVE TAX ADMINISTRATION ON NIGERIA ECONOMY
Click here to Get this Complete Project Chapter 1-5
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Tax administration involves interpretation of tax laws and execution of the requirement. Referring to Agbetunde L.A. in the textbook “Nigerian Personal Income Tax (2004). Tax Administration had been existing in Nigeria before we were colonized. It started from north when the colonialists did a sort of consolidation and codification of existing taxation in 1902. the colonialist did these through various policy regulations encoded in the Native Court Regulation (1902) and Native Revenue Proclamation.
After the amalgamation of the Northern and Southern provinces in 1914, the Native Revenue Ordinance was enacted in 1917 in the north and 1918 in the south. There was a problem in that these ordinances were applicable to specific sections of the country.
In 1951, Raisman Fiscal Commission was set up to look into fiscal issues and the country to solve the problems of inconsistency and confusion where not in the exiting laws. Raisman Commission provided on recommendation that there should be uniformity in taxation and thus from a basis of modern tax system and was contained in the 1960 constitution.
This was enacted into law via Income Tax Management (ITMA) of 1961. This Act provided for the administration of both individual and company tax, from this came the gradual reduction of the role of local authority in tax administration as the move was towards the federal and state governments. The federal is to administer income of limited companies while both federal and state are to administer Personal Income Tax (PIT).
More reforms came through the constitutional reforms of 1963, 1979 and 1989 as more and more responsibility for tax administration is put on shoulder of the federal governments. Further amendments were made on the Act in 1979 and 1990 constitution.
1.2 STATEMENT OF PROBLEM
Here, we will look into the effectiveness of tax administration on Nigeria. Tax administration is encountered with so many problems such as untimely remittance of tax collected by agent. Another problems is the failure of some organisation to register and pay tax on themselves as the law requires, also some professionals like lawyers, accountants and estate agent to mention a few.
1.3 THE PURPOSE OF THE STUDY
According to Prince Adejuwon Jonathan, in the textbook “Analysis of Taxation”. This project is aimed at providing information on the impact of effective tax administration on Nigeria Economy. Here are some facts which will assists to understand the implementation of tax in Nigeria:
i. Tax is paid by all chargeable persons and cooperate organisation.
ii. Tax charged on income of person other than company is referred to as “Personal Income Tax (PIT). The income charged under this tax are income of individuals (either as an individual or in partnership) from sources like employment, trading, business etc.
iii. The tax is at ten percent
iv. Companies incorporated in Nigeria under CAMA are charged on the taxable profit of company on the basis of 30%
v. Petroleum profit tax is a tax charged on taxable profit of petroleum companies involved in petroleum operation in Nigeria.
vi. Records and accounts have to be kept.
vii. Federal Inland Revenue Service (FIRS), Tax directorate provided a free information and advisory service to help you with tax.
1.4 SIGNIFICANCE OF THE STUDY
The significance of this research is to enlighten the public on what tax administration is all about and to devised series of strategies to combat these problems. The problems detected in tax operation and administration which research intend include untimely remittance of tax by agents because most collecting agents tend to keep the money collected, problems encountered in obtaining statement of account and untimely reconciliation of such account.
Tax operation and administration in Nigeria really warrant investigation because of the failure of some organisation to register and collect tax as required by law; these include big parastatals and statutory corporation of government such as Nigeria Post Plc and Nigeria Railway Corporation. This research work will even go a long way bringing about proper implementation of tax operation and policy when all parastatals are finally privatalized.
1.5 HYPOTHESIS
Hypotheses are statement of preposition about the existence, size, form, differences in relationships between or distinctions of some variables. For the purposes of this study to be properly guide, some hypothesis are formulated; they are:
Inform of null hypothesis (H0) and Alternative hypothesis (H1).
i. H0: Tax administration does not boost the economy of Nigeria.
H1: Tax Administration had boosted the economy of Nigeria.
ii. H0: There are no problems concerning the administration of tax in Nigeria.
H1: There are lots of problems concerning the administration of tax in Nigeria.
iii. H0: There is untimely remittance of tax collected by agents in Nigeria.
H1: There is timely remittance of tax collected by agents in Nigeria.
iv. H0: Tax operation and administration in Nigeria does not warrant investigation.
H1: Tax operation and administration in Nigeria warrant investigation.
1.6 LIMITATION OF THE STUDY
The limitation of this research study might include the following:
i. Time Constrain: The research study is being conducted alongside the earning process in the classroom. This entails a distribution of limited available time between both activities. Hence, such time constraints offer a limitation on the research study.
ii. Financial Constraints: Being that the financial requirement of a research study is enormous, my lean finance may not be enough to go round the study as designed.
iii. Other Constraints: These include constraints imposed by analyst, professionals and other personnel who may be approached during the course of the study as to their opinion on the subject matter.
Despite the above limitation, it is my intentions that the study will be an eye opener into the necessity of effective tax administration in the country.
1.7 DEFINITION OF TERMS
Various definition of terms will be covered under this heading. Thee include the definition of:
i. Tax
ii. Tax Consultants
iii. Tax Clearance Certificate
iv. Tax Evasion
v. Assessment Notice
According to Adesola S.M. (1998) Tax Law and Administration.
He defined the above listed terms as:
i. Tax: This is a compulsory levy imposed by the government authority through its agent on its subject or his property to achieve some goals. It is paid without expecting something in return.
ii. Tax Consultants
These are tax professionals that give expert advices to the tax authority and taxpayers. Commissions or fees are charged for services rendered.
iii. Tax Clearance Certificate
This is a document issued by the tax authority on the request of the tax payer when it is satisfied that the tax payer has fully paid his tax for three years preceeding the current year of assessment or that no tax is due on the income of that person.
iv. Tax evasion
This is a criminal attempt to escape tax liability (wholly or partly) by breaking the law. It results from inefficiency in tax administration.
v. Assessment Notice
This is a notice prepared by tax authority and served on or sent by a registered post to each taxable person on persons whose income are charged to tax. It contains the amount of income assessed, amount of tax charged and where to pay the tax.
Get the Complete Project
This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.
Click here to Get this Complete Project Chapter 1-5
You can also check other Research Project here:
- Accounting Research Project
- Adult Education
- Agricultural Science
- Banking & Finance
- Biblical Theology & CRS
- Biblical Theology and CRS
- Biology Education
- Business Administration
- Computer Engineering Project
- Computer Science 2
- Criminology Research Project
- Early Childhood Education
- Economic Education
- Education Research Project
- Educational Administration and Planning Research Project
- English
- English Education
- Entrepreneurship
- Environmental Sciences Research Project
- Guidance and Counselling Research Project
- History Education
- Human Kinetics and Health Education
- Management
- Maritime and Transportation
- Marketing
- Marketing Research Project 2
- Mass Communication
- Mathematics Education
- Medical Biochemistry Project
- Organizational Behaviour
- Other Projects
- Political Science
- Psychology
- Public Administration
- Public Health Research Project
- More Research Project
- Transportation Management
- Nursing
Need a Project Writer for a Different Topic
- MSC PROJECT WRITING SERVICES
- MBA RESEARCH PROJECT WRITING SERVICES
- Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
- Masters Research Project Writer in Lagos Nigeria
- MBA Research Project Writer in Lagos Nigeria
- LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
- PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
- BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
- MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Education Research Project Writer in Lagos Nigeria
- Environmental Sciences Research Project Writer in Lagos Nigeria
- Guidance and Counselling Research Project Writer in Lagos Nigeria
- Human Kinetics and Health Education Project Writer in Lagos Nigeria
- Early Childhood Education Research Project Writer in Lagos Nigeria
- Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
- Educational Administration and Planning Research Project Writer in Lagos Nigeria
- Political Science Research Project Writer in Lagos Nigeria
- Accounting Research Project Writer in Lagos Nigeria
- Economics Research Project Writer in Lagos Nigeria
- Management Research Project Writer in Lagos Nigeria
- Marketing Research Project Writer in Lagos Nigeria
- Public Administration Research Project Writer in Lagos Nigeria
- MBA Research Project Analysts
- In Need of MBA Research Project Writer in Nigeria
- MBA Dissertation Research Project Writer
- MBA Project writer
- EDUCATION DEPARTMENT PROJECT WRITING SERVICES
- BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
- Early Childhood Education Research
- MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
- MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
- POST GRADUATE RESEARCH PROJECT WRITER
- POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
- MASTER RESEARCH PROJECT WRITER
- MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
- POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
- MASTERS RESEARCH PROJECT WRITING SERVICES
- RESEARCH PROJECT WRITER
- EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
- HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
- SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Master Degree Research Project Specialist/Writer in Lagos, Nigeria
- Hire A Research Project Writer in Lagos Nigeria
- Research Project Specialist in Lagos, Nigeria
Full Project – IMPACT OF EFFECTIVE TAX ADMINISTRATION ON NIGERIA ECONOMY