Confidence of the tax payer on the tax system, and promote voluntary compliance on the part of the tax payer on the whole, the ultimate goal of tax reform is the enhancement of public revenue generation several studies pertaining to tax reforms in nigeria have tied tax reform on economic growth undermining public generated revenue. Taxation in nigeria and history of taxation in nigeria a tax in nigeria is a compulsory levy imposed by the federal government of nigeria on individuals and corporate entities in respective of return of service expected from the government. Nigeria tax guide 2013 taxation issues in each country all companies operating in nigeria outside the oil and gas sector of the economy are. A critical assessment on nigerian federalism: path to a true federal system by: irabor peter odion 07037830536 [email protected] department of. Northern nigeria – history and development of taxation before the colonization period in nigeria, the tax system was traced to the northern parts of the country the emirs created a system of taxes throughout the north. Taxation in nigeria - origin and importance of taxation in nigeria - the earliest trace of any form of direct taxation in nigeria even before the british. An overview of the nigerian tax system: implications for foreign investors by the administration of taxation in nigeria is vested in the various tax. Get free research paper on taxation as a tool for economic development in history, role, solutions are as a tool for economic development of nigeria with a.
Parliament, nigeria became an independent country within the commonwealth on october 1, 1960 in 1963 nigeria became a republic within the commonwealth in nigeria, the taxation system dates back to 1904 when the personal income tax was introduced in northern nigeria before the unification of the country by the colonial masters. A comprehensive tax history of nigeria this book discusses the evolution of taxation in nigeria within the framework of eight broad themes ie. Nigeria tax reform: challeges & history of the current tax reform process the chartered institute of taxation of nigeria. (2) the tax, which shall be at the rate of 2 per cent, shall be charged on the assessable profit of a company registered in nigeria (in this decree referred to as a company) (3) the assessable profit of a company shall be ascertained in the manner specified in the companies income tax act or the petroleum profits tax act (in this decree referred.
The corporate tax rate in nigeria stands at 30 percent nigeria corporate tax rate - actual data, historical chart and calendar of history advertisers investors. Colonialism is a major feature of the economic history of nigeria britain eventually gained control of nigerian administration after independence, the nigerian economy seemed very promising.
Taxation, revenue allocation, and fiscal federalism in nigeria 29 2 nigeria’s tax system 21 tax type and tax jurisdiction the assignments of fiscal instrument in nigeria were guided by constitutional. Home » finance » tax system in nigeria: issues and challenges taxation is enforced by the 3 tiers of government in nigeria, an improvement in. A history of the eternal fate of taxation: to be the abused or abusive means towards noble or ignoble ends, never quite able to escape its association with extortion and war.
Problems of tax collection in nigeria: a case study of uyo local government 22 history of taxation in nigeria institute of taxation of nigeria. Several volumes have been written on the subject of taxation and even more volumes onthe history of nigeria however, while some writers may be credited with the occasionaltreatise on the history of taxation in nigeria, it is doubtful if a comprehensive treatment ofnigerian taxation has been done from a decidedly historical perspective.
Tax administration in nigeria: problems and prospects a case study of benue state board of internal revenue service 1 abstract the pre-occupation and concern of this study is the appraised of problems and prospects of tax administration in nigeria using benue state board of internal revenue as a. Personal income tax administration in nigeria under the review of literature the history of taxation in nigeria the present form of taxation in nigeria. All taxes in nigeria are collected by nigeria's federal inland revenue service (firs)according to firs there are nine(9) types of taxes in nigeria: companies income tax. The chartered institute of taxation of nigeria is the professional certified tax administrators in nigeria citn was formed by the government for the purpose of.
The historical background of taxation in nigeria indicates that thefirst form of taxation occurred in northern nigeria. Chartered institute of taxation of nigeria (citn) chartered institute of local government and public administration of nigeria (cilgpan) history of e-commerce. A history of taxation taxes are considered a problem by everyone not surprisingly, taxation problems date back to earliest recorded history last update april 7, 1999. Challenges of revenue generation in nigeria: 22 history of taxation challenges of revenue generation in nigeria: legal perspective is born out of. An essay on the effects of taxation on the corporate financial policy discuss, modigliani and the effects of taxation on the corporate financial policy, --. Akhidime& abusonwan: nigeria personal income tax (amendment act 2011 afrrev ijah the history of personal income tax law in nigeria is traceable to the.