TAXATION AS A TOOL FOR ECONOMIC DEVELOPMENT OF NIGERIA

CHAPETR ONE

INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

Abstract

This study is on taxation as a tool for economic development of Nigeria. The total population for the study is 200 staff of federal Inland Revenue service, Uyo, Akwa Ibom state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made of tax managers, assistant tax managers, officers i and officers ii were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 

 

 

 

 

 

 

 

 CHAPTER ONE

INTRODUCTION

• Background of the study

Nigeria as a nation has the vision of becoming one among the world’s 20 largest economies in the year 2020; this obviously is the brain behind the priority attention the present administration is directing at infrastructural development which is essential for economic growth. A developed economy is one with the ingredient to stimulate investment and create wealth, this by implication offers an atmosphere that is business friendly and has the potentials for the actualization of the vision 202020.The desired outcome requires a lot of money to put the economy in a position that stimulates investment, therefore, tax policies need to attract potential investors, and the revenue from tax should be sufficient enough to meet the infrastructural expenditures of the government (Worlu, 2012). Apere (2003) notes that taxation is a microeconomic and fiscal policy instrument; it involves the transfer of resources from the private to the public sector for the accomplishment of economic and social goals. It is an instrument the government uses to measure, access and control the informal sector that dominate developing economies of the world (Wambai and Hanga, 2013).
This research contends that taxation is an instrument of economic development. Towards this end, this study examines taxation as a tool for economic development using Federal Inland Revenue Service.

1.2 STATEMENT OF THE PROBLEM

Recently, revenue derived from taxes has been very low and no physical development actually took place, hence the impact on the poor is not being felt. Inadequate tax personnel, fraudulent activities of tax collectors and lack of understanding of the importance to pay tax by tax payers are some of the problems of this study. The issues mentioned above will therefore constitute the problem to be addressed by this research work.

• OBJECTIVE OF THE STUDY

The objectives of the study are;

1. To examine taxation as a tool for economic development in Nigeria.
2. To find out whether taxation contributed to the development of Nigeria economy.

• To examine the role of taxation for economic development of Nigeria.

1. To find out the importance of taxation in the development of an economy through proper use of its tools.
2. To make possible recommendations based on the findings of this research work.
   • RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H₀ Taxation as a tool does not aid economic development of Nigeria.

H₁:  Taxation as a tool does aid economic development of Nigeria.

H₀²:   there is no role of taxation for economic development of Nigeria

H₂:   there is role of taxation for economic development of Nigeria

• SIGNIFICANCE OF THE STUDY

The essence of this research work is to examine taxation as a tool for economic development of Nigeria. Thus, this study will at a wide-range be of benefit to the local, state and federal governments, as it will highlight the importance of taxation in the society.This study would also be of benefit to employers and employees of Federal Inland Revenue Service Uyo, who has been experiencing incorporation of tax payers by paying their taxes regularly.Also, the public, private sectors, individuals, business owners will find it necessary by encouraging them to comply by paying their tax. It would also be of immense benefits to students of higher learning who may wish to carry out research on the similar topic

• SCOPE AND LIMITATION OF THE STUDY

The study concerns about taxation as a tool for economic development of Nigeria with a particular focus in Federal Inland Revenue Service, Uyo . The researcher encounters some constrain which limited the scope of the study;

1. a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
2. b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
3. c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.

1.7 DEFINITION OF TERMS

• FIRS: Federal Inland Revenue Service
• TAXATION: This is the process of levying and collection of tax from taxable persons (Soyode & Kayola 2006).
• TAX EVASION: This is the deliberate and willful practice of not disclosing full taxable income so as to pay less tax or it is a contravention of the tax laws whereby a taxable person neglect to pay the tax due or reduces tax liability by making fraudulent or untrue claims on the income tax form (Soyode & Kayola 2006).
• TAX AVOIDANCE: Tax avoidance has been defined as the arrangement of tax payers affairs using the tax shelters in the laws, and avoiding tax traps in the laws, so as to pay less tax than he or she would otherwise pay (Soyode & Kayola 2006).
• ECONOMIC DEVELOPMENT: Economic development is the sustained, concerted actions of the policy makers and communities that promote the standard of living and economic health of a specific area (Sheffrin, 2003). Clement (2013), also defined economic development as the quantitative and qualitative changes in the economy to enhance the living standard of the people.
• DEVELOPMENT: Development is the process of economic and social transformation that is based on complex and cultural environmental factors and their interactions.

 1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study

 

 

 

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