TABLE OF CONTENTS
CHAPTER ONE
Background of the study
Statement of problem
Object we of study
Significance of study
Limitations of the study
Definition of terms
CHAPTER TWO
Review of related
literature
General discussion on
tax
Tax laws
Revenue system
Assessment of tax
Tax administration
system
CHAPTER THREE
Research design and methodology
Sources of data
Location of data
CHAPTER FOUR
Findings
CHAPTER FIVE
Recommendations
Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF STUDY
Tax can be defined as a
leery, which government imposes on the income of the citizens of a state for
which government makes no direct benefits to the taxpayers. It is also an
impose by a state on persons who are resident or who earn income within the
state. It may take the form of a direct or indirect tax.
Generally speaking, a
tax is said to be direct where the payment of the tax and the burden fall on
the same person; it is indirect where the impact falls on one person and the
incidence on another person.
Most government in
Nigeria depends on tax revenue generalization. The revenue generated is used
for economical, political and cultural development.
Development according to
dictionary meaning is the process of having many industries and a complicated
economic system in the society.
Development here is the
instrument of positive change that enhances the standard of living of people in
the state. Such changes as creation and utilization of serviceable social
amenities, reduction in crime, increase in skill and capacity, better
organization, good and efficiency and reduction of cost, to mention a few.
When a state is label to
manage its affairs as stated above, such a state is said to have achieved
development. That is they have achieved all round source in its administration.
Therefore, development
means an increase in the real Gross National product (GNP) over periods in an
economy of the state.
But more often,
development is judge by the significant change in the provision of
infrastructures like good roads, effective transport and communication system,
public health, education, good water supply amenities. All these help to
increase the standard of living of the people.
So development is the
capacity to deal with environment in order to provide all necessities that will
enhance the standard of living of the people. Such things as good laws tax and
monetary policies good and efficient management of the economy, provision of
infrastructure and utilizes are all measures of development.
Most states in Nigeria
at present are under developed. It is even worst than in most states because it
is newly formed and therefore needs a lot of money for its development. Before
creation of state, governmental facilities were lacking. Like lacking of good
road, efficient public health, good and effective communication system, and
good education system. Some development have occurred and so the researcher
wants to know the impact of tax on the government achievement as well as know
the efficient use of tax is judged by the extent the entire people including
private firms and house holds benefit from it.
Enhanced capital
formation, which signifies development is achieved through tax. But recently
the Nigerian government has introduced a lot of changes in the tax system that
little or nothing is being paid as tax by a worker on a salary level of ten
thousand naria per annum. In the pay as you earn system (PAYE) personal
allowance is now three thousand naria Phi’s fifteen percent of earned income.
There is also children allowance of one thousand five hundred naira per child
for maximum of four children dependent relative allowance of one thousand naira
and insurance allowance which is actual amount, paid as premium. Apart from the
above, five thousand and naira of earned income is tax-free.
From the above, one
wonders if tax is the major source of government finding.
1.2 STATEMENT
OF PROBLEM
In recent years there
has been wide spread concern about the rate at which development has been
taking place in some created states in Nigeria.
The major problem
concerning this study is therefore to establish the linkage between tax as an
internal source of find and the rate of development in some created states.
1.3 OBJECTIVE
OF THE STUDY
The main objective e of
the research work are to find out and educated:
i.
How tax rates affects the rate of investment in the economy.
ii.
The general desirability of firms to invest as result of tax incentive
measures.
Also the researcher will
look at the impact of tax on small-scale business in the state and whether the
taxes are effectively and efficiently collected. The involves looking at the
tax administration and collection systems.
Generally the work is
done to find out if tax constitutes the bulk of government revenue to erase the
erroneous belief that tax is exploitation by government for their selfish
interest.
1.4 SIGNIFICANCE
OF THE STUDY
One of the most
frequently discuss ed issue in Nigeria is how to solve the economic hardship in
the country and how to create an industrial base that can guarantee self
sustaining growth and development. Also one wonders why a country which is
richly endowed with necessary human and material resources and which the
people, pay tax has been turned into a heavily indebted country.
So the research is
significant in the that it will reveal how much development is achieved through
tax as well as expose the extent tax generated funds are used in providing the
essential services to the people. The work will also reveal if there are other
better sources of government finding apart from tax. The study will in addition
help in the better understanding of the impact of tax on small-scale business
in the state.
1.5 DEFINITION
OF TERMS
Some of the words used
are defined below:
TAX: This is a
compulsory leery, which the government imposes on the income of the citizens of
a state for which government makes no direct benefits to the taxpayers.
DEVELOPMENT: This is the
capacity to deal with the environment in order to provide all necessities that
will enhance the standard living of the people. Such things are creation and
utilization of serviceable social amenities, reduction of unemployment,
limiting the growth of population; increase efficiency and growth of
population.
Department | Banking and Finance |
Project ID Code | BFN0053 |
Chapters | 5 Chapters |
No of Pages | 35 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |