ABSTRACT
The purpose of this
study was to find out the impact of education tax fund (ETF) on tertiary
institutions in Nigeria. The study examined how education tax funds as impacted
on tertiary institution in Nigeria. Data were obtained using research
questionnaire from (100) students who are already in tertiary institution in
Nigeria. The decision of this study was prompted by the important role that
education tax fund has played on tertiary institution in Nigeria. The
statistical method employed for analysis was the simple percentage method. The
analysis of the responses to the researcher questionnaire yielded the following
findings.
TABLE OF CONTENT
CHAPTER ONE
Introduction
Background to the study
Statement of problem
Objectives of the study
Significance of study
Research questions
Scope of the study
Limitations of the study
Definition of terms
CHAPTER TWO
Review of related
literature
CHAPTER THREE
1Research design
Population of the study
Sampling of the study
Sample technique adopted
Instrumentation
Method of data
collection
Method of data analysis
CHAPTER FOUR
Presentation of data and
discussion of results
CHAPTER FIVE
Summary
Conclusion
Recommendations
BIBLIOGRAPHY
QUESTIONNAIRES
CHAPTER ONE
INTRODUCTION
1. BACKGROUND TO THE STUDY
Education has been
defined differently by various scholars. Okonkwo (1988) defined education as a
cultural action directed at creating attitudes and habits considered necessary
for participation and intervention in one’s historical process. According to
Okafor in Iwuchukwu (1993) defined education as a process of acculturation
through which the individual is helped to attain the development of his
potentials and their maximum activation when necessary according to right
reason and to achieve hereby his perfect self-fulfillment.
In the view of Uche
(1984) education is the process of training and developing of the mental
potentials, physical knowledge skills and characters of individuals by formal
and informal schooling. But Iwuchukwu (2006) is of the view that the emergence
of the national policy on education journey, which began since 1847 with the
establishment of British privy council on education. Tertiary institution
according to National Policy on Education (1981) are those institution that
cover the post-secondary section of national education system which given on
universities, polytechnics and college of technology including College of
Education, the advanced teachers training colleges, correspondence colleges and
institution as may be due to them.
Over the year, it has
been conjectural by education experts that one of the major problems military
against the realmation of the objectives of establishing tertiary institutions
in Nigeria problem of poor funding on this, therefore Ozurumba (1998) said the
best education plan could be easily aborted if not supported by adequate funds.
Inadequate funding of the system has been a contributing problem in this
country. Authenticating this further Amadi (1999) said during the oil boom, the
current period of great economic reversals in the petroleum oil sector,
financing of education has suffered untold damages.
To this end, tertiary
institutions need finance to carry out research in medicine, engineering,
education etc they need funds for training and retraining of lectures, acquire
state of the art facilities and other amenities that can engender student’s
potentials to the overall achievement of the arms and objectives of higher
education in Nigeria. Moreso, as a result of the job opportunities available to
graduates and our increasing population, there was a demand for higher
education which led to the government to introduce tax to education sector.
Tax fund is an amount of
money that has been saved or has made available to part to the government so
that it can been for a public services. Tax fund is used by the government to
maintain and take care of some certain things in the country. Under current
Nigeria law, taxation is enforced by the three tiers of government, i.e.
federal, state and local government with each having its sphere clearly spelt
out in the taxes and levies (approved list for collection) degree 1998, of
importance at this juncture however are tax regulations pertaining to investors
both foreign and local.
The importance of tax
regulations cannot be overemphasized, as most transactions with any ministry,
department, or government agency cannot be concluded without evidence of tax
clearance i.e. a tax clearance certificate certifying that all taxes due for
the three immediately preceding years of assessment have been settled in full.
The following are some of the relevant tax regulations in the country.
1. Value added tax (VAT): This was introduced by
the VAT decree No 2 of 1993, to replace the old sales tax. It is a consumption
chain and is borne by the final consumer. It requires a taxable person upon
registering with the federal board of inland revenue to charge and collect VAT
at a flat rate of 5% (recently increased to 10%) of all invoiced amount of
taxable goods and services.
2. Capital gaining tax: This accrues on an actual
year basis and it pertains to all gains accruing to a tax payer from the sale
or lease or other transfer of proprietary right in a chargeable interest which
are subject to a capital gains tax of 10% such chargeable assets may be
corporate or incorporate and it does not matter that such asset is not situated
in Nigeria.
3. Education tax: An education tax of 2% of
assessable profits is imposed on all companies incorporated in Nigeria. This
tax is viewed as a social obligation placed on all companies in ensuring that
they contribute their own quota in developing educational facilities in the
country.
4. Personal income tax: The legal basis for this
tax is found in the provisions of the personal income tax decree (now act) 104
of 1993.
Tax fund has enable the
government to be able to establish or building of schools repairing of roads
and other government projects that benefits the citizen. The funding of these
higher institutions rested surely on the government which bore this neck
breaking burden. Also the government had to introduce new programmes and
specialized areas were introduced and facilities, equipment for teaching and
learning were provided and the government had to give out scholarship and
bursary awards to students.
To alleviate this
gigantic burden, the education tax fun (ETF) decree No 7 of 1st January,
1993 was promulgated. It is in the light of this that this study has been
designed investigation into the impact of education tax fund on tertiary institutions.
1. STATEMENT OF THE PROBLEM
The lack of adequate
fund for our tertiary institutions has been bane to the realization of the
objective of the establishing them. Fourteen years after the education tax
decree and it subservient implementation has the scenarios in our tertiary
institution really changed?
Prior to the enactment
of this decree out tertiary institution were bedeviled with decayed faculties,
congested classrooms and hostels outdated textbooks in our libraries. Those
problem still exist in our tertiary institutions. If they still exist then
there is a question to be answered on how the education tax fund (ETF) has
impacted on our tertiary institution.
1. PURPOSE OF THE STUDY
The objectives of
engaging in this study are;
1. To find out how beneficial the education tax
fund has been to the tertiary institutions.
2. To explore the problems impending the
disbursement of the fund.
3. To find out the solutions to these problems in
order to enhance tertiary institution.
4. SIGNIFICANCE OF THE STUDY
It is envisaged that
this study will enable the government, students and the society at large to be
acquainted with the numerous benefits of the education tax fund (ETF) rewards
alleviating the plight of academic pursuits in our tertiary institutions. The
findings will enable the society to know the various problems militating
against the disbursement of this fund since its inception or origin.
1. SCOPE OF THE STUDY
The study is limited to
the impact of education tax fund (ETF) on tertiary institutions in Nigeria. The
study is not interested in explaining and or determining any learning outcome
variables other than the impact of education tax fund on tertiary institution.
The result and conclusion to be drawn from the study are therefore limited to
the defined tax fund but may be generalized to other tertiary institutions in
Nigeria which have educational default.
1. DEFINITION OF TERMS
Tax: money that you have
to pay to the government so that it canpay for public services.
Fund: An amount of money
that has been saved or has been made available for a particularly purpose.
Education: A process of
teaching training and learning, especially in schools or colleges, to improve
knowledge and develop skills.
University: An
institution at the highest level of education where you can study for a degree.
Department | Education |
Project ID Code | EDU0077 |
Chapters | 5 Chapters |
No of Pages | 46 pages |
Methodology | Null |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2349067372103 |
Contact Us On | +2349094562208 |
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