ABSTRACT
This project is borne out of the fact that the revenue generated from taxes are usually less than government projections and this has led to the various reforms in the tax sector to achieve the desired objective which is to ensure tax as a fiscal instrument and to improve the tax administration as a whole. Relevant data were collected from staffs of tax offices and local governments in Ikeja area of Rivers state. One hundred and twenty (120) questionnaires were administered out of which one hundred and ten (110) were adequately filled and returned. The data collected were analyzed using Regression analysis. Based on the analysis, it was found that there are problems in the tax sector that are militating against effective revenue generated by the government. The problems are; indiscipline and unfaithfulness of tax officials, use of the same principles over the years despite the changes in the economy, concealment of profit and design of policies that are not futuristic. The study concluded that there is a rapid growth in the involvement of tax payers through the new tax reforms and this has led to increase in revenue generated by government. Finally, the study recommends that there should be public enlightenment, increased technology to increase the accountability and transparency of tax personnel, judicious application of tax revenue, and the administration of taxes should be clear, simple and less complicated.
INTRODUCTION
............... Tax reform is the process of changing the way taxes are collected and managed by the government. There have been a number of major changes in the tax system in Nigeria in recent past for a variety of reasons (Emuwa, 2009).Azubike, (2009) said that tax reform is an ongoing process with tax policy makers and tax administrators continually adopting the tax systems to reflect changing economic, social and political circumstances in the economy. Public revenue mobilization is one of the most keenly contested issues in Nigeria, (Adedokun, 2004).
The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are consistently being reviewed with the aim of repealing obsolete provisions and simplifying the main ones, (Oloyede, 2006). The Federal Government is taking various steps towards reforming the tax system, the recent pronouncement on the increase in the Value Added Tax (VAT) from 5 percent to 10 percent, particularly with the subsequent reversal and the controversy so far generated among stakeholders.
Nigeria as we all know is governed by a federal system; hence its fiscal operations also adhere to the same principle. This has serious implications on how the tax system is managed in the country. In Nigeria, the government’s fiscal power is based on a three-tiered tax structure divided between the federal, state and local governments, each of which has different tax jurisdictions. As of 2002, about 40 different taxes and levies are shared by all three levels of government. (Odusola, 2006)
Pre 2002 Tax Reform Efforts: The Federal Government had taken far-reaching steps aimed at reforming the nation’s tax system before the Pre 2002 reform efforts. Among these are; The 1978 Task Force on Tax Administration headed by Alhaji Shehu Musa. The major thrusts of the report of the task force are;
• Introduction of the Withholding Tax (WHT) regime
• Imposition of 10 per cent special levy on Bank’s excess profits
• Imposition of 21/22 per cent turnover tax on building and construction companies.
The 1992 Study Group on Nigerian Tax System and Administration headed by Professor, Emmanuel Edozien, recommended; ...............
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TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.1. Background of the Study
1.2. Statement of the Problem
1.3. Objective of the Study
1.4. Research Questions
1.5. Research Hypothesis
1.6. Significance of the Study
1.7. Scope and Limitation of the Study
1.8. Organization of the Study
1.9. Definition of Terms
1.10. Abbreviations
1.11. References
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1. Introduction
2.2. History of Tax Reforms in Nigeria
2.2.2. History of the Current Tax Reform Process
2.3. Impact of Taxation on Economic Growth
2.4. The Role of Taxation on Revenue Generation in the Nigerian Economy
2.5 Tax Reforms in Nigeria
2.6. Tax Reforms in Rivers State
2.7. The Procedures of Tax Reforms
2.7.1. Taking Appropriate Steps to Tax Reforms
2.8. Types of Taxes and Their Various Reforms
2.8.1. Personal Income Tax (PIT)
2.8 2. Company Income Tax (CIT)
2.8.3. Education Tax
2.8.4. Petroleum Profit Tax (PPT)
2.8.5. Value-Added Tax (VAT)
2.8.6. Capital Gains Tax (CGT)
2.8.8. Custom Duties
2.8.7. Stamp Duties
2.8.9. Excise Duties
2.9. Role of Tax Bodies on Tax Reforms
2.9.1. Federal Inland Revenue Service, (FIRS)
2.9.2. Rivers Internal Revenue Service (LIRS)
2.10. Tax System on Nigeria: Issues and Challenges
2.11. Suggested Solutions to the Problems
2.12. References
CHAPTER THREE: RESEARCH METHODOLOGY
3.0. Introduction
3.1. Research Design 3.2. Research Population
3.3. Sample Size Determination
3.4. Data Collection Techniques
3.4.1. Primary Sources of Data
3.4.2. Secondary Sources of Data
3.5. Design and Administration of Questionnaire
3.6. Data Analysis Technique
3.7. Dependent and Independent Variable
3.8. Validity and Reliability of the Research Instrument
3.9. References
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1. Introduction
4.2. Data Analysis and Interpretation
4.3. Testing of Hypothesis
4.3.1. Testing of hypothesis 1
4.3.2. Interpretation 1
4.3.3. Testing of hypothesis 2
4.3.4. Interpretation 2
4.4. Discussion of Findings
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.0. Introduction
5.1 Summary of Findings
5.2. Conclusion
5.3. Recommendation
APPENDIX
Bibliography
Questionnaire
Reference code: c020
Reference code: c020
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124 Pages
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