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THE IMPACT OF TAX EVASION AND TAX AVIODANCE IN NIGERIA ECONOMY ( A CASE STUDY OF BOARD OF INTERNAL REVENUE, EDO STATE. )

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THE IMPACT OF TAX EVASION AND TAX AVIODANCE IN NIGERIA ECONOMY ( A CASE STUDY OF  BOARD OF INTERNAL REVENUE, EDO STATE. )

                                TABLE OF CONTENTS

 

TITLE PAGE

APPROVAL PAGE

DEDICATION

ACKNOWLEDGEMENT

TABLE OF CONTENT

 

CHAPTER ONE INTRODUCTION

1.1     THE HISTORY OF TAX

1.2     PRESENT DAY OF TAXATION IN NIGERIA

1.3     STATEMENT OF PROBLEMS

1.4     OBJECTIVES OF STUDY

1.5     SIGNIFICANCE OF THE STUDY

1.6     DEFINITION OF TAX

          REFERENCES

 

CHAPTER TWO – INTRODUCTION

2.1     TAX EVASION AND TAX AVOIDANCE

2.2     DEFINITION OF TAX EVASION

2.3     EVASION AS A DECISION OF RISK

2.4     EVASION BY FIRM

2.5     THREE MAIN STREAMS OF AVOIDANCE

2.6     ELIMINATION OF TAX EVASION AND TAX AVOIDANCE

2.7     IMPACT OF TAX EVASION AND TAX AVOIDANCE TO THE ECONOMY

2.8    TAXABILITY OF INCOME ILLEGAL TRADING

CHAPTER THREE

RESEARCH METHODOLOGY

3.1     Introduction

3.2     Research design

3.3     Primary source of data

3.4     Population

3.5     Sample techniques

  1. 6 Sample size

3.7     Remarks

 

CHAPTER FOUR

DATA ANALYSIS AND INTERPRETATION

4.1    Introduction

4.2     Presentation of related data

4.3     Analysis of related data

4.4     Testing of the hypothesis

4.5     Interpretation of the result

 

CHAPTER FIVE

SUMMARY, FINDINGS, CONCLUSION AND RECOMMENDATION

5.1     Summary of the findings

5.2     Conclusion

5.3     Recommendation

BIBLIOGRAPHY

APPENDIX / QUESTIONNAIRE

 

 

 

              CHAPTER ONE

 

  • HISTORY OF DEVELOPMENT

In Nigeria their so many form of taxation dating back of the

days of our great ground father whose by communities dated themselves through communal labour to prosecute community projects.

Taxation is process on machinery by which group or communities made contribution from their income in some agree amount and method for the purpose providing amentias for the society.  It is because of this it I often referred to as civic responsibility.

It is important to note that the present tax has in Nigeria was been out of the Rouseman’s Commission of inquiry of last.

But before that, we only had what was called the income tax ordinance for the colonies and which was very similar Raismars recombine nature was the basis for providing in section to, subsection of the Nigeria prospects for reform (Anarticle published in Business Time on May 20, 1786).

Taxation can be divided in two basic profiles we have the direct taxation sand indirect tax is based on ascertainment of income rather on individual a group of individuals co-operate bodies and institution under this was have personal income tax and company income tax.  The personal income is one which of individual is assessed and resident by the state on those individual resident in the state, which the companies income tax is cleared on corporate bodies is the responsibility of federal government through the federal board of inland revenue indirect taxation is lived on consumption of goods or services and each of consumption.

In various countries, various government rely heartily on taxation on as in aid to encouraging capital formation policy.

In a developing economy, tax may be collected strutted in such way that the high may be collected and even raise revenue for the economy of the country.

 

  • PRESENT DAY TAXATION IN NIGERIA

Taxes are one of the major sources or revenue for all

government in Nigeria.

The taxes collected income back to the tax payer in the form of social amenities, like building as school, hospital.

Nigeria tax is an assessment imposed by the State of Federal Government to enable them provide service for Nigeria citizens present day tax administration in Nigeria is guided by the following Act Decree:

  1. Income tax management Act (ITNIA) 1961. This governs the taxation of individual.  (Individuals, trustees, executors, partnership and families) the Act was amended by the finance (miscellaneous taxation provision) Decree 1986,1983,1990,1992, 1994 and 1996.
  2. Company Income Tax act (CTA) 1979, this registered companies. It also suffered some amendments.

 

  1. Petroleum Profit Tax Act (PPTA), 1959 as amended this Act regulates the assessment and collection of petroleum. Tax payable by entries that engage in the secretion and sale of petroleum oil in Nigeria.
  2. Capital Gains Decrees (CGD), 1976, this was introduced by Decree 44 of 1967. it takes care of gain accruing to any person on or after 1st of April 1967 on the disposal of fiscal assets.

 

  • STATEMENT OF PROBLEM

The existence of tax evasion and tax avoidance in Nigeria tax

system poses a lot question in the inquisitive mind of some people especially in the board of inland revenue as to the way and how of this existence.

This brings about reactions from various sections of the economy.  This reaction are the problems this research work going to address itself to.

 

 

  • OBJECTIVE OF STUDY

Based on the statesman of problem this study, the write

intends to x-ray the following issues as decide the mind of the public:

  • Reason for tax evasion and avoidance
  • To x-ray the impact of tax avoidance
  • To make recommendations the board on Inland Revenue.