ABSTRACT
The study was embarked upon to review and examine taxation as a means of generating revenue that will serve as a way forward from declining oil revenue in Nigeria.
The study’s objectives are; to look into taxation as a way forward from declining oil revenue, to review the impact of taxation on the economic grow and development, to run through the Nigeria tax system regarding its administration, enforcement, collection and remittance of taxes and consider ways of making the Nigerian tax system more effective.
Regarding the methodology of this study, the data used was it was a literature review was sourced from secondary data such as journals, articles, internet, google scholar etc. And from the sources, information were collected, studied, analysed and collated which enabled the researcher to draw the necessary conclusions with high degree of precisions.
The findings of the research work are that; taxation forms a great part of revenue generated in Nigeria, revenue generated from tax impacts the Gross Domestic Product (GDP), tackling tax evasion and avoidance as a means of improving the effectiveness and efficiency of the tax system and the impact of adequate alignment of the tax system on the effectiveness and efficiency of it enforcement and collection.
This research work will be adding the already existing body of literature with respect to this subject and form a base for future researchers on this subject.
Conclusively, the research indicated that taxation forms a significant aspect of government for revenue generation. And that measures to deal with some of the issues affecting the system like tax evasion and avoidance tackling tax evasion and avoidance should be more of control measures and not elimination measures as it cannot be ruled out of any tax system, The use of the funds generated from tax should be made more open with physical proofs of proper utilisation (more disclosures to taxpayers) amongst others.
Table of Contents
ABSTRACT i
ACKNOWLEDGEMENTS ii
LIST OF ABBREVIATIONS iii
CHAPTER ONE 1
INTRODUCTION 1
1.1 Background of the Study 1
1.1.2 Regulations Guiding the Oil Sector 2
1.1.3 The Impact of the Oil Sector on the Nigerian Economy 2
1.1.4 The Problems in the Oil Sector 3
1.1.5 Causes of the Problems in the Oil Sector 3
1.1.6 Current State of the Oil Sector 4
1.2 STATEMENT OF THE PROBLEM 5
1.3 OBJECTIVES OF THE STUDY 9
1.4 RESEARCH QUESTIONS 10
1.5 SIGNIFICANCE OF THE STUDY 10
CHAPTER TWO 11
LITERATURE REVIEW 11
2.1 INTRODUCTION 11
2.2 THE THEORITICAL FRAMEWORK 16
2.2.1 Concept of Taxation 18
2.2.2 Types of Taxes 19
2.2.3 OBJECTIVES OF TAXATION 20
2.2.4 FEATURES OF THE NIGERIA TAX SYSTEM 22
2.2.5 CHALLENGES OF TAX ADMINISTRATION IN NIGERIA 24
2.2.6 REASONS FOR TAX EVASION AVOIDANCE 29
2.3 CONCEPTUAL FRAMEWORK 30
2.4 EMPIRICAL REVIEW 34
CHAPTER THREE 35
RESEARCH METHODOLOGY 35
3.1 INTRODUCTION 35
3.2 PHILOSOPHY OF THE RESEARCH 35
3.3 DESIGN OF THE RESEARCH 36
3.4 SEARCH FOR STUDIES 37
3.5 DATA COLLECTION 38
3.6 ETHICS OF THE RESEARCH 38
3.7 DATA ANALYSIS PLAN 38
3.8 APPROACH OF THE RESEARCH 39
The main strategies for a business research study can either be quantitative, qualitative or mixed method.39
CHAPTER 4 40
FINDINGS 40
4.1 INTRODUCTION 40
4.2 TAXATION FORMS A GREAT PART OF REVENUE GENERATED IN NIGERIA 41
4.4 Tackling tax evasion and avoidance as a means of improving effectiveness of the tax system 57
4.4.1 Dealing with tax avoidance and evasion-Practical Difficulties 57
4.4.2 Strategies to deal Tax Evasion and Avoidance.58
4.5 Impact of adequate alignment of the tax system on the effectiveness and efficiency of its enforcement and collection.60
CHAPTER FIVE 62
ANALYSIS and DISCUSSIONS 62
5.1 DEDUCTIONS AND AGREEMENT WITH OTHER STUDIES 62
5.2 DISAGREEMENTS WITH THE STUDY 72
5.3 Limitations of the Study 72
CHAPTER SIX 73
CONCLUSIONS/RECOMMENDATIONS 73
6.1 CONCLUSION 73
6.2 RECOMMENDATIONS 74
6.3 RECOMMENDATION FOR FUTURE RESEARCH 75
CHAPTER SEVEN 76
REFERENCES 76
