A
CRITICAL APPRAISAL OF TAXATION AS AN INSTRUMENT OF ECONOMIC GROWTH IN NIGERIA
CRITICAL APPRAISAL OF TAXATION AS AN INSTRUMENT OF ECONOMIC GROWTH IN NIGERIA
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BY
BEING
A PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF THE MANAGEMENT
SCIENCES, EKITI STATE UNIVERSITY, ADO-EKITI, NIGERIA.
A PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF THE MANAGEMENT
SCIENCES, EKITI STATE UNIVERSITY, ADO-EKITI, NIGERIA.
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF BACHELOR OF
SCIENCE (B.Sc.) DEGREE (HONOURS) IN ACCOUNTING.
ABSTRACT
The
study set out to critically appraise taxation as an instrument of economic
growth in Nigeria. Taxation was been neglected in Nigeria by various government
in power after the discovery of oil. However, the subject was beginning to
attract more attention from the government because of the volatility of oil
prices, the agitation of oil producing states to control their resources and
the felt need to diversify the nations economy. The unpredictable fluctuation
in petroleum price which has continue to result into low accruable income
needed to facilitate economic growth and
development. Hence, the three levels of
government are now constrained to revitalize their tax system either by
modifying the existing tax laws or introducing new ones. Though, tax is seen as
a punitive instrument by some certain class but is a veritable tool employed by
the developed nation to accelerate their economic growth.
study set out to critically appraise taxation as an instrument of economic
growth in Nigeria. Taxation was been neglected in Nigeria by various government
in power after the discovery of oil. However, the subject was beginning to
attract more attention from the government because of the volatility of oil
prices, the agitation of oil producing states to control their resources and
the felt need to diversify the nations economy. The unpredictable fluctuation
in petroleum price which has continue to result into low accruable income
needed to facilitate economic growth and
development. Hence, the three levels of
government are now constrained to revitalize their tax system either by
modifying the existing tax laws or introducing new ones. Though, tax is seen as
a punitive instrument by some certain class but is a veritable tool employed by
the developed nation to accelerate their economic growth.
The
study was limited to 10 years of data which was gathered from secondary sources
and the ordinary least square analysis method was used to test the reliability
and validity of data collected. It was also used to determine the relationship
that exist between the variables used during the course of the study.
study was limited to 10 years of data which was gathered from secondary sources
and the ordinary least square analysis method was used to test the reliability
and validity of data collected. It was also used to determine the relationship
that exist between the variables used during the course of the study.
However,
from the research findings, it was concluded that there exist a significant relationship between
taxation and economic growth of Nigeria and also significant relationship
between taxation and revenue generation in Nigeria. Finally, it is hope that
better tax structure should be put in place to ensure effective execution of
the various tax Acts that will lead to rapid economic stability and growth of
the nation.
from the research findings, it was concluded that there exist a significant relationship between
taxation and economic growth of Nigeria and also significant relationship
between taxation and revenue generation in Nigeria. Finally, it is hope that
better tax structure should be put in place to ensure effective execution of
the various tax Acts that will lead to rapid economic stability and growth of
the nation.
TABLE OF CONTENT
Title
Certification
Dedication
Acknowledgement
Abstract
Table
of Content
of Content
CHAPTER ONE
1.0 Introduction
1.1
Background of the Study
Background of the Study
1.2
Statement of the Problem
Statement of the Problem
1.3
Objective of the Study
Objective of the Study
1.4
Significance of the Study
Significance of the Study
1.5
Research Questions/ Hypothesis
Research Questions/ Hypothesis
1.6
Research methodology
Research methodology
1.7
Scope and Limitations of the Study
Scope and Limitations of the Study
1.8
Definition of terms
Definition of terms
1.9
Organisation of the study
Organisation of the study
End of chapter references
CHAPTER TWO
2.0 Literature
Review
Review
2.1
Introduction
Introduction
2.2
Definition of Taxation
Definition of Taxation
2.3
Historical and Legal Development of Taxation in Nigeria
Historical and Legal Development of Taxation in Nigeria
2.4
Characteristics of Taxation
Characteristics of Taxation
2.5
Objectives of Taxation
Objectives of Taxation
2.6
Structure of the Nigeria Tax system
Structure of the Nigeria Tax system
2.7
Principles of Taxation
Principles of Taxation
2.8
Sources of Nigerian Tax Laws
Sources of Nigerian Tax Laws
2.9
Nigerian Tax Laws
Nigerian Tax Laws
2.10
Organ of Tax Administration
Organ of Tax Administration
2.11
Sources of Revenue to the Nigeria
government
Sources of Revenue to the Nigeria
government
2.12
Tax Jurisdictions
Tax Jurisdictions
2.13
Tax Exemptions
Tax Exemptions
2.14
Problems of Taxation in Nigeria
Problems of Taxation in Nigeria
End of Chapter References
CHAPTER THREE
3.0 Research
Methodology
Methodology
3.1
Research Focus
Research Focus
3.2
Research Instruments
Research Instruments
3.3
Restatement of Research Questions/ Hypothesis
Restatement of Research Questions/ Hypothesis
3.4
Description of the Population and Sample of the Study
Description of the Population and Sample of the Study
3.5
Sources of Data Collection
Sources of Data Collection
3.6
Method of Data Analysis and Description of Tools of Analysis
Method of Data Analysis and Description of Tools of Analysis
End of Chapter References
CHAPTER FOUR
4.0 Data
Analysis, Interpretation and Discussion of Findings
Analysis, Interpretation and Discussion of Findings
4.1
Interpretation of Items
Interpretation of Items
4.2
Analysis of Data
Analysis of Data
4.3
Analysis of Table
Analysis of Table
4.4
Test of Hypothesis
Test of Hypothesis
End of Chapter References
CHAPTER FIVE
5.0 Summary,
Conclusion, Recommendation and Suggestions for further studies
Conclusion, Recommendation and Suggestions for further studies
5.1
Summary
Summary
5.2
Conclusion
Conclusion
5.3
Recommendation
Recommendation
5.4
Suggestions for further studies
Suggestions for further studies
End of chapter references
Bibliography
Appendices:
Appendix A: Data Analysis variables
(2002-2011)
(2002-2011)
Appendix B: Descriptive Analysis
(Gross Domestic Product)
(Gross Domestic Product)
Appendix
C: Descriptive Analysis (Government Revenue)
C: Descriptive Analysis (Government Revenue)
Appendix
D: Analysis of Empirical Result Presentation (GDP)
D: Analysis of Empirical Result Presentation (GDP)
Appendix
E: Analysis of Empirical Result Presentation (GREV)
E: Analysis of Empirical Result Presentation (GREV)
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