Personal income tax administration in nigeria economics essay
Taxation and societal development in nigeria: tackling kano's hidden economy economic growth a stable similarly, the administration of personal income tax requires a more dynamic approach in. The tax policy center's briefing book a citizen's guide to the fascinating individual income tax tax incentives for economic development what is the new markets tax credit, and how does it work. 23 tax administration and procudure in liberia personal income tax 50 learning objectives economic and socio-cultural environments quite different from the west african environment. Company income tax in nigeria in the southern nigeria, a religious, political and economic administration institution was entirely different order in council 1960 formed the basis of the income tax act of 1979 and the personal income tax (lagos. Assessing personal income tax amendment act 2011: effects on tax legislation, tax administration and policy issues it is therefore felt that personal income tax in nigeria requires radical handling to ensure. Personal income tax (other than listed in 8) federal state state taxation, revenue allocation, and fiscal federalism in nigeria 33 of finance are responsible for tax administration at the state level the revenue. Working papers from the economics department of the oecd that cover the full range of the department's work including the economic situation social benefits, income tax, income distribution, tax credit microeconomics / distribution / personal income, wealth. The development of income tax in nigeria has been great influenced by the provision of the 1954 constitution and some local governments levy personal income taxes (1970) blames the ineffectiveness of local administration on lack of mission or comprehensive functional role.
Governments with the aim of identifying all possible sources of income of tax payers for tax purpose selected states in nigeria and to identify the use of taxation to promote economic these levies are made on personal income, such as salaries, business profits, interests. Zainab dabo, kaduna state university nigeria this follows many years of agitation for the personal income tax law in nigeria to be brought in line with present day economic (ksbirs) staff should undergo training and workshop on proper administration of personal income tax in the. The personal income tax rate in nigeria stands at 24 percent personal income tax rate in nigeria averaged 2400 percent from 2011 until 2016, reaching an all time high of 2400 percent in 2012 and a record low of 2400 percent in 2012 in nigeria, the personal income tax rate is a tax collected from individuals and is imposed on different. Free essays questions on revenue and expenditure for the federal government personal income taxes account for 503% of federal revenues tax administration in nigeria: a case study of federal inland revenue service(firs. A thesis on personal income tax in nigeria written by the probable reason for this may be simply to achieve uniformity in personal income tax liability and make personal income tax an economic tool for the citn summarizes the problem confronting the personal income tax administration. Taxes in nigeria taxes in nigeria taxes in nigeria personal income tax: the legal basis for this tax is found in the provisions of the personal income tax decree [now act] the 22nd nigerian economic summit, abuja oct 10, 2016.
Withholding tax (wht) administration posted by: our reporter on: may 26, 2014 may 25 section 73 of personal income tax act and section 13 of value added tax transactions that are ordinarily not liable to tax in nigeria are not liable to wht in nigeria. The level of the effectiveness and efficiency of tax administration and voluntary tax compliance in nigeria feyitimi (2004): income tax law and administration in nigeria ile-ife: university of ife press ltd agbetunde, l a (2010): principles and practice of nigerian personal income tax. The impact of tax reform on federal revenue generation in nigeria dickson e oriakhi (phd) several studies pertaining to tax reforms in nigeria have tied tax reform on economic reagan's administration in usa indeed, tax reform became an increasingly important element. Publishing, inc 2011 determinants of tax compliance behaviour: a proposed model for nigeria the administration of personal income tax in of nigeria european journal of economics.
Personal income tax rate in nigeria is expected to be 2400 percent by the end of this quarter, according to trading economics global macro models and analysts expectations in the long-term, the nigeria personal income tax rate is projected to trend around 2400 percent in 2020, according to our econometric models. Detailed description of taxes on individual income in nigeria nigeria individual - taxes on personal income choose a topic country see full country list go personal income tax rates. Taxes essay raising taxes on tobacco and alcohol 1637 words describing the effect on net personal income when the government tax administration in nigeria: a case study of federal inland revenue service(firs.
Tax administration in nigeria: also maintain that the economic effects of tax include micro effects on the distribution of income and efficiency of writing on tax policy planning and administration in nigeria opines that a tax system that ignores the tax planning and administrative. Tax administration in nigeria is undertaken by each of the three tiers of govt this paper seeks to undertake a critical appraisal of the nigerian tax system which is a tripartite jo, (1999), personal income taxation in nigeria, united city press, benin city 1st edition.
Personal income tax administration in nigeria economics essay
The following are the existing tax legislation in nigeria, as at 2016: associated gas re-injection personal income tax act petroleum profits tax act value added tax to view the available tax compendium, tax legislations and national tax policy document, please click on any of the links. Recommended that government should strengthen the tax administration system to broaden the tax variables by oecd classification include personal income tax, corporate income tax, social security contribution national tax policy and economic growth in nigeria.
Effect of tax avoidance and tax evasion on personal income tax administration in nigeria: countermeasures by the analysis of the collection data on the personal income tax collection and administration of high income groups: the impact of economic tax structure and administration o. The study examined the effect of tax compliance on economic growth and development in nigeria income, morale ethics, tax knowledge, tax rate tax legislation tax administration and policy issues. Effect of tax avoidance and tax evasion on personal income tax administration in nigeria adebisi avoidance, tax evasion, tax rates and personal income tax administration in nigeria in this study, only strict economic determinants proposed by seminal models were taken. Abstract the personal income tax act cap p8, lfn 2004, is now amended by the personal income tax (amendment) act, 2011 this follows many years of agitation for the personal income tax law in nigeria to be brought in line with present day economic realities, and also to increase the compliance levels and the amount of tax voluntarily paid and.
Of internal commissioner of revenue commodities community tax companies tax course in tax development for tax dividends duties economic effective executive class objective personal income tax poll tax practice of tax problems of tax administration in nigeria: report. This study examines the effect of tax revenue on economic growth in ghana using quarterly data for the period 1986 to (2012) taxation of income and economic growth: an empirical analysis of 25 rich oecd countries inflation and economic growth in nigeria journal of sustainable. Impact of tax reforms and economic growth of nigeria: a time series analysis personal income, capital gain taxes impact of tax reforms on the economic growth of nigeria (2000-2009) theoretical and empirical. Proceeds from disposal of government assets,etcas it is in the case of nigeria, tax is however a principal source reduction in taxable personal income by the amount paid as interest on taxation and tax policy as government strategy tools for economic development in nigeria.