TAXATION AS A TOOL FOR ECONOMIC DEVELOPMENT OF NIGERIA (A CASE STUDY OF FEDERAL INLAND REVENUE SERVICE, UYO)
1.1 BACKGROUND OF THE STUDY
Nigeria as a nation has the vision of becoming one among the world’s 20 largest economies in the year 2020; this obviously is the brain behind the priority attention the present administration is directing at infrastructural development which is essential for economic growth. A developed economy is one with the ingredient to stimulate investment and create wealth, this by implication offers an atmosphere that is business friendly and has the potentials for the actualization of the vision 202020.The desired outcome requires a lot of money to put the economy in a position that stimulates investment, therefore, tax policies need to attract potential investors, and the revenue from tax should be sufficient enough to meet the infrastructural expenditures of the government (Worlu, 2012).
Apere (2003) notes that taxation is a microeconomic and fiscal policy instrument; it involves the transfer of resources from the private to the public sector for the accomplishment of economic and social goals. It is an instrument the government uses to measure, access and control the informal sector that dominate developing economies of the world (Wambai and Hanga, 2013). This research contends that taxation is an instrument of economic development. Towards this end, this study examines taxation as a tool for economic development using Federal Inland Revenue Service.
1.2 STATEMENT OF THE PROBLEM
Recently, revenue derived from taxes has been very low and no physical development actually took place, hence the impact on the poor is not being felt. Inadequate tax personnel, fraudulent activities of tax collectors and lack of understanding of the importance to pay tax by tax payers are some of the problems of this study. The issues mentioned above will therefore constitute the problem to be addressed by this research work.
1.3 OBJECTIVES OF THE STUDY
i) To examine taxation as a tool for economic development in Nigeria.
ii) To find out whether taxation contributed to the development of Nigeria economy.
iii) To examine the role of taxation for economic development of Nigeria.
iv) To find out the importance of taxation in the development of an economy through proper use of its tools.
v) To make possible recommendations based on the findings of this research work.
1.4 RESEARCH QUESTIONS
i) Does taxation as a tool aid economic development in Nigeria?
ii) Does taxation contributed to the development of Nigeria?
iii) Does taxation play any role for economic growth and development in Nigeria?
iv) Does taxation has any impact on the development of an economy through proper use of its tools?
1.5 RESEARCH HYPOTHESES
H0: Taxation as a tool does not aid economic development of Nigeria.
H0: Taxation does not play any role for economic growth and development in Nigeria.
1.6 SIGNIFICANCE OF THE STUDY
The essence of this research work is to examine taxation as a tool for economic development of Nigeria. Thus, this study will at a wide-range be of benefit to the local, state and federal governments, as it will highlight the importance of taxation in the society. This study would also be of benefit to employers and employees of Federal Inland Revenue Service Uyo, who has been experiencing incorporation of tax payers by paying their taxes regularly. Also, the public, private sectors, individuals, business owners will find it necessary by encouraging them to comply by paying their tax.
It would also be of immense benefits to students of higher learning who may wish to carry out research on the similar topic.
1.7 SCOPE OF THE STUDY
The study concerns about taxation as a tool for economic development of Nigeria with a particular focus in Federal Inland Revenue Service, Uyo.
1.8 LIMITATION OF THE STUDY
The limitations encountered in the course of this study include the following: The limitation encountered by the researcher was that public officers fear to divulge information which to them may be detrimental to their work. Another limitation to the study is the outright inability of respondents to complete and the questionnaire in time. Also, traffic congestion is one of the limitations of the study. The researcher faced challenges of meeting up the respondents in their offices due to traffic. Finally, the researcher observed the non co-operation of some staff attitude in the board to make information available for the researcher.
1.9 DEFINITION OF TERMS AND ACCRONYMS
FIRS: Federal Inland Revenue Service
TAXATION: This is the process of levying and collection of tax from taxable persons (Soyode & Kayola 2006).
TAX EVASION: This is the deliberate and willful practice of not disclosing full taxable income so as to pay less tax or it is a contravention of the tax laws whereby a taxable person neglect to pay the tax due or reduces tax liability by making fraudulent or untrue claims on the income tax form (Soyode & Kayola 2006).
TAX AVOIDANCE: Tax avoidance has been defined as the arrangement of tax payers affairs using the tax shelters in the laws, and avoiding tax traps in the laws, so as to pay less tax than he or she would otherwise pay (Soyode & Kayola 2006).
ECONOMIC DEVELOPMENT: Economic development is the sustained, concerted actions of the policy makers and communities that promote the standard of living and economic health of a specific area (Sheffrin, 2003). Clement (2013), also defined economic development as the quantitative and qualitative changes in the economy to enhance the living standard of the people.
DEVELOPMENT: Development is the process of economic and social transformation that is based on complex and cultural environmental factors and their interactions.
Get the Complete Project
This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.
You can also check other Research Project here:
- Adult Education
- Agricultural Science
- Banking & Finance
- Biblical Theology & CRS
- Biblical Theology and CRS
- Biology Education
- Business Administration
- Computer Engineering Project
- Computer Science 2
- Criminology Research Project
- Early Childhood Education
- Economic Education
- Education Research Project
- Educational Administration and Planning Research Project
- English Education
- Environmental Sciences Research Project
- Guidance and Counselling Research Project
- History Education
- Human Kinetics and Health Education
- Maritime and Transportation
- Marketing Research Project 2
- Mass Communication
- Mathematics Education
- Medical Biochemistry Project
- Organizational Behaviour
- Other Projects
- Political Science
- Public Administration
- Public Health Research Project
- More Research Project
- Transportation Management
Need a Project Writer for a Different Topic
- MSC PROJECT WRITING SERVICES
- MBA RESEARCH PROJECT WRITING SERVICES
- Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
- Masters Research Project Writer in Lagos Nigeria
- MBA Research Project Writer in Lagos Nigeria
- LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
- PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
- BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
- MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Education Research Project Writer in Lagos Nigeria
- Environmental Sciences Research Project Writer in Lagos Nigeria
- Guidance and Counselling Research Project Writer in Lagos Nigeria
- Human Kinetics and Health Education Project Writer in Lagos Nigeria
- Early Childhood Education Research Project Writer in Lagos Nigeria
- Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
- Educational Administration and Planning Research Project Writer in Lagos Nigeria
- Political Science Research Project Writer in Lagos Nigeria
- Accounting Research Project Writer in Lagos Nigeria
- Economics Research Project Writer in Lagos Nigeria
- Management Research Project Writer in Lagos Nigeria
- Marketing Research Project Writer in Lagos Nigeria
- Public Administration Research Project Writer in Lagos Nigeria
- MBA Research Project Analysts
- In Need of MBA Research Project Writer in Nigeria
- MBA Dissertation Research Project Writer
- MBA Project writer
- EDUCATION DEPARTMENT PROJECT WRITING SERVICES
- BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
- MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
- MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
- POST GRADUATE RESEARCH PROJECT WRITER
- POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
- MASTER RESEARCH PROJECT WRITER
- MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
- POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
- MASTERS RESEARCH PROJECT WRITING SERVICES
- RESEARCH PROJECT WRITER
- EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
- HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
- SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Master Degree Research Project Specialist/Writer in Lagos, Nigeria
- Hire A Research Project Writer in Lagos Nigeria
- Research Project Specialist in Lagos, Nigeria