Description
Abstract
The contribution of tax to any economy cannot be overemphasized. Apart from the revenue function it performs for the government, it is also used to assist the national government to achieve the country’s macro-economic objectives in the areas of fiscal and monetary policies. It has been observed over the years in the Nigerian economy that the taxation derived from companies has been grossly understood due to the improper administration of the Nigerian tax system in the collection and assessment of companies in any fiscal year non-compliance with tax rules and regulations has been a bottleneck which is a key factor in the ineffectiveness in the management of Nigerian tax system. The main objective of this project is to explore the relationship between taxation and the economic development of the country. Primary and secondary data were applied in carrying out this research work contingency chi-square statistics were used to analyze the relationship between tax and Nigeria, economic development. Tax evasion and avoidance are major hindrances to revenue generation, on compliance with tax law on the part of the taxpayers in a hindrance and ineffective tax administration has given enough loopholes leading to poor generation of income. We recommend among others that the computerization of the integrated tax operations for enhancement in revenue collection.
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