The purpose of writing this research works. The impact of
federal government tax policies on the Nigerian Economy, is determine whether
the federal government tax policies in Nigeria has contributed immensely to the
overall growth of the economy. It also seeks to investigation on the
extent the polices of federal government tax has helped in revenue generation
The literature review gave a background
and in depth in the country and also the various policies banking them.
The decision made on this work was derived based on the test
conducted. The chi-square was used in testing the hypothesis while frequency
tables and percentage were used in analyzing the data.
The decisions were that the federal government
tax policies is actually a regulatory frame work of revenue generation in
Nigeria. While the other one is that the federal government tax policies has
contributed to the growth of the economy.
Based on the above decision, some findings were made
which necessitated recommendations and finally conclusions.
1.1 STATEMENT OF PROBLEM AND OBJECTIVES
1.2 RATIONAL OF STUDY…
1.3 SIGNIFICANCE OF THE STUDY
1.4 BACKGROUND OF THE STUDY
1.5 DEFINITION OF TERMS
2.1 THEORITICAL REVIEW
2.2 EMPRICAL REVIEW
HYPOTHESIS, METHODOLOGY, SOURCES OF DATA LIMITATION OF THE STUDY.
3.1 HYPOTHESIS OF THE STUDY
3.2 METHODOLOGY OF STUDY
3.3 SOURCES OF DATA
3.4 LIMITATION OF STUDY
DATA PROSENTATION, ANALYSIS AND DISCUSSION OF RESULT.
4.1 DATA PRESENTATION
4.2 ANANLYSIS OF DATA
4.3 DISCISSION OF THE RESULT
5.1 SUMMARY OF THE ENTIRE WORK
5.4 SUGGESTION FOR FURTHER RESEARCH
1.1 PROBLEM IDENTIFICATION AND PURPOSE OF THE STUDY
The burden of tax falls heaviest on those with
smallest income earning (odoh, 1998). An accurate record of business
transaction and income tax becomes difficult. Some tax collection and assessors
There are cases of bribery and corruptions and also the cases of
tax collections being prosecuted for misappropriations of funds collected from
Sometimes tax collectors went into the remote villages to
collect tax but the problem of transportation might increase the difficultly.
Also there is a languge barrier in the tax collection to raise money. Taxes are
imposed to raise revenue for government for it to satisfy the peoples wants.
There is need for government to raise money for the
provision of essential services such as the maintenance of law and order, the
construction of roads and railways and the provision of health services, social
and educational facilities. It is important because it is used to stimulate
recovery from trade depression when unemployment is usually high, so to fight
these ills there may be an increase in taxation.
PURPOSE OF THE STUDY
The Nigerian government has realized the need for revenue
generation through imposition of tax on citizen so there are different
objective for imposing tax in the country.
To detect the extent, the federal government tax
policies have helped in revenue generation and allocation in Nigeria.
To find out the extent the federal government tax
polices have contributed to the growth of the economy.
2.1 RATIONALE OF STUDY
The federal government generates a large proportion of its revenue
from tax. The revenue generated from tax helped the federal government to
provide for such things as national defence, security, Justice, transport,
Communication and construction, health and education, while transfers from the
fourth group and include employed retirement benefit consisting of pension,
gratuities and public debt charges.
Tax controls inflation in an economy because when there is
inflation in the economy, government can tax away the income in the hand of
society and thereby reducing the aggregate demand, which will eventually bring
the price down in the economy.
Government also levy taxes to discourage the consumptions of goods
that are considered undesirable, goods welfare or those goods that create room
for ostentation, wrong investment priorities or class distinction in he society
1.2 SIGNIFICANT OF THE STUDY
The finding of this research will benefit both the government and
community. The government generates a large population of its revenue
from tax and it s used to satisfy people wants and it is providing for such
things are national defence, security, Justice, Construction of roads and
railways and provision of essential services, health social and educational
Hence it is beneficent to both because taxes are
imposed to raise revenue for the government for it to satisfy the people in a
community. Also it is used to stimulated recovery from trade depression,
when unemployment is usually high.
1.3 BACKGROUND INFORMATION ABOUT THE STUDY:
In Nigeria, many units of government, which in geopolitical jargon
can be called junsdiction, carry out the fiscal operations.
Some fiscal functions are operated on a
more centralized level which others are decentralized. Each of the three major
fiscal functions are Allocation, distribution and stabilization, has economic
reasons to be operated by each level of government. Taxation is the most
important source of public revenue.
Tax is a levy, which a government imposes on the income of a
citizen of a state for which the government makes no direct benefits to the
payer. It is a compulsory contribution imposed by government on private
persona, groups and institution within the country. Since it is a company
payment a person who refuses to pay a tax is liable to punishment. But it
is paid only by those who come under funsdiction. (Odoh, 1998).
The federal government generated a large proportion
of its revenue from tax it is a compulsory contribution from corporate and
natural person to government to defency the expenses incurred in the common
interest of all with reference of special benefit conferred. It is
non-panel yet compulsory transfers of resources from the private on the prime
sector, which must be levied on the basis or well-established criteria of
equity, certainty, convenience.
Apart from using tax to generate revenue to finance her project,
the federal government uses taxation for the purpose of influencing activities
in the economy, thereby achieving its growth and stabilization policies. (odoh,
DEFINITION OF TERMS
Tax: Tax is a levy, which a government
imposes on the income, or production and consumption of goods of the citizen of
a state for which the government makes no direct benefit tax payer
INFLATION: This is a general increase in price by the final
consumer of goods and services because it is included in the price paid
VAT: It is a tax on spending which is borne by the
final consumer of goods and services because it is included in the price paid.
FISCAL POLICY: Fiscal policy is the way or measure in which
the federal government controls the circulation of money in the economy.
REVENUE – Revenue is the income or receipt of money by government.
It could be said to be find or finance gotten by the government.
TAX BASE: Tax base is the items on which the government
levies the tax on.
TAX AVOIDANCE: Is a way in which taxpayer illegally reduces,
delay or avoid paying tax. This is subject to punishment by the law court
TERMS AND CONDITIONS APPLY
For more informations on project materials and more