THE PROBLEMS AND PROSPECTS OF COMPANY INCOME TAX ADMINISTRATION IN NIGERIA

THE PROBLEMS AND PROSPECTS OF COMPANY INCOME TAX ADMINISTRATION IN NIGERIA


NUMBERS PAGES: 95         RESEARCH TYPE:- PROJECT         AMOUNT :- ₦2500

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                                                                           Abstract
All companies in Nigeria are required by the Companies Income Tax Act 2007, to pay tax to the federal government on incomes or profits made by them; however, Nigeria’s economy is characterized by low tax compliance and enforcement. Low tax compliance is a matter of grave concern in many countries especially developing ones like Nigeria because it limits the capacity of their respective governments to raise revenues for development purposes. In the same vein, There is no gainsaying the fact that tax enforcement has become an essential aspect of tax administration in view of the ingenious ways corporate taxpayers, use to undermine the revenue generation process by not remitting what is due to government, under declaration of income as well as withholding revenue due to government for their own use etc. However, the question many Nigerians ask is, is there strict enforcement of corporate tax laws in Nigeria considering the low level of corporate compliance? This project examines The Problems and Prospects of Company Income Tax Administration in Nigeria.

TABLE OF CONTENT:
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Research Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.5.1 STATEMENT OF HYPOTHESES
1.6 Scope and Limitations of the Study
1.7 Conceptual and Operational Definition
CHAPTER TWO
LITERATURE REVIEW
2.0 OVERVIEW OF THE NIGERIAN TAX SYSTEM
2.1 NATURE AND DEFINITION OF TAXATION
2.1.1 REASONS FOR IMPOSITION OF TAX
2.1.2 FUNCTIONS OF TAXATION
2.1.3 EFFECTS OF TAXATION
2.2 NIGERIA TAX LAWS
2.3 HISTORY OF COMPANIES INCOME TAX
2.4 COMPANY INCOME TAX ADMINISTRATION IN NIGERIA ADMINISTRATION OF THE COMPANIES INCOME TAX ACT.
2.4.1 THE MINISTER OF FINANCE
2.4.2 FEDERAL BOARD OF INLAND REVENUE SERVICES (FBIRS)
2.4.3 THE GENESIS OF FEDERAL INLAND REVENUE SERVICES AND CONCEPT OF THE INTEGRATE TAX OFFICE.
2.4.4 COMPOSITION OF THE FEDERAL BOARD OF INLAND REVENUE.
2.4.5 FUNCTIONS OF THE FEDERAL BOARD OF INLAND REVENUE
2.4.6 POWER OF THE BOARD
2.4.7 TECHNICAL COMMITTEE OF THE BOARD
2.4.8 THE FUNCTIONS OF THE COMMITTEE
2.5 THE JOINT TAX BOARD
2.5.1 COMPOSITION OF THE JOINT TAX BOARD
2.5.2 FUNCTIONS OF THE TAX BOARD
2.6 THE STATE BOARD OF INTERNAL REVENUE.
2.6.1 FUNCTIONS OF FIRS
2.7 IMPOSITION OF COMPANY INCOME TAX
2.7.1 TAXABLE/CHARGEABLE PROFITS
2.7.2 EXEMPTION
2.7.3 ACCOUNTING FOR INCOME TAX
2.7.4 COLLECTION PROCESS AND PROCEDURESCOLLECTION
2.7.5 COMPANIES INOCOME TAX RATES
2.8 RETURNS, ASSESSMENT AND PAYMENT OF TAX
2.8.1 PERIOD FOR FILING OF RETURNS
2.8.2 PENALTY FOR LATE SUBMISSION OF RETURNS
2.8.3 ASSESSMENT OF INCOME TAX
2.8.4 PROVISION TAX ASSESSMENT
2.8.5 OBJECTION TO ASSESSMENT
2.8.6 PENALTY FOR LATE PAYMENT
2.9 PROBLEMS OF COMPANY INCOME TAX ADMINISTRATION

CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research design
3.2 Areas of the study
3.3 Sample and sampling procedure
3.4 Instruments for data collection
3.5 Validation of the instruments
3.6 Reliability of the instruments
3.7 Methods of data collection
3.8 Method of data analysis
CHAPTER FOUR
DATA ANALYSIS AND RESULTS
4.1 Data Analysis
4.2 Results
4.3 Discussion
CHAPTER FIVE
SUMMARY CONCLUSIONS AND RECOMMENDATIONS
5.1 summary
5.2 Conclusions
5.3 Recommendations
Bibliography

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THE EFFECT OF TAX ADMINISTRATION ON REVENUE GENERATION IN ENUGU STATE. (A CASE STUDY OF THE STATE BOARD OF INTERNAL REVENUE ENUGU STATE)

THE EFFECT OF TAX ADMINISTRATION ON REVENUE GENERATION IN ENUGU STATE.

(A CASE STUDY OF THE STATE BOARD OF INTERNAL REVENUE ENUGU STATE)


NUMBERS PAGES: 100         RESEARCH TYPE:- PROJECT         AMOUNT :- ₦2500

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                                                                            ABSTRACT
The level of revenue generated in the state has been in a declining form due to poor administration and collections of taxes and lack of proper return of accounts. These are the negative effects that affect government revenue generation which are targeted to meet her basic functions like provision of basic amenities for her citizenry in the state. The aim of this research study is to evaluate the effect of tax administration on revenue generation to the Enugu state government. The research design adopted in this study was survey research method. Primary and secondary sources of data were used in collecting information which was analyzed using simple percentages and hypothesis tested using chi – square statistical method at 0.05 level of significant for validity and to make decisions. Findings show that there was rampant incidence of tax evasion and avoidance in the state, and the tax administration in Enugu state is inadequate, not effective and not efficiently managed thus: inadequate staff and facilities also hinder tax administration and collection. The researcher, in the final analysis drew a lasting conclusion, some of which are:- the apathy of Enugu state people towards payment of tax could be reduced by involving them in the decision making of tax administration, collection and utilization of the tax revenue. The environment should be made better by both the government and its agencies. The staff of the SBIR Enugu should be well remunerated and ensure adequate administration of tax laws in accordance with the laid down rules and regulations.

TABLE OF CONTENT
COVER PAGE————————————————————————
TITLE PAGE————————————————————————-i
APPROVAL PAGE——————————————————————ii
DEDICATION———————————————————————–iii
ACKNOWLEDGEMENT———————————————————–iv
ABSTRACT————————————————————————–v
TABLE OF CONTENT————————————————————-vi
CHAPTER ONE: INTRODUCTION
1.1 BACKGROUND OF THE STUDY———————————————1
1.2 STATEMENT OF THE PROBLEM —————————————–8
1.3 OBJECTIVE OF THE STUDY ————————————————9
1.4 RESEARCH QUESTION —————————————————–10
1.5 STATEMENT OF HYPOTHESIS——————————————–12
1.6 SIGNIFICANCE OF THE STUDY——————————————-12
1.7 SCOPE OF THE STUDY—————————————————–13
1.8 LIMITATION OF THE STUDY———————————————14
1.9 DEFINITION OF TERMS—————————————————15
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 GENERAL OVERVIEW ABOUT THE STUDY—————————-17
2.2 ORIGIN OF TAXATION—————————————————–20
2.3 TAX ADMINISTRATION————————————————————-24
2.4 PURPOSE OF TAXATION————————————————————27
2.5 QUALITIES OF A GOOD TAX SYSTEM——————————————–31
2.6 CLASSIFICATION OF TAXES——————————————————-34
2.7 ENUGUSTATE BOARD OF INTERNAL REVENUE——————————46
2.8 THE REVENUE GENERATION IN ENUGU THROUGH TAX ——————-48
2.9 INADEQUATE STAFF AND FACILITIES HINDER TAX GENERATED——–49
2.10 INCIDENCES OF TAX EVASION AND AVOIDANCE IN ENUGU STATE—-52
2.11 EFFORTS MADE BY ENUGU STATE BOARD OF INTERNAL REVENUE TO IMPROVE REVENUE GENERATION——————————————–56
REFERENCE ————————————————————————62
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 INTRODUCTION ——————————————— 63
3.2 RESEARCH DESIGN ——————————————— 63
3.3 AREA OF THE STUDY——————————————— 63
3.4 POPULATION OF THE STUDY ——————————————— 63
3.5 SOURCES OF DATA COLLECTION——————————————– 64
3.6 DETERMINATION OF SAMPLE SIZE ———————————————65
3.7 METHOD OF DATA ANALYSIS ——————————————— 66
3.8 VALIDITY TEST ——————————————— 68

3.9 RELIABILITY TEST ——————————————— 68
REFERENCE
CHAPTER FOUR: PRESENTATION, INTERPRETATION AND ANALYSIS OF DATE
4.1 DATA PRESENTATION————————————————————-70
4.2 DATA ANALYSIS ——————————————————————-70
4.3 TEST OF HYPOTHESIS ————————————————————-83
CHAPTER FIVE: SUMMARY OF FINDINGS , CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS——————————————————–92
5.2 CONCLUSION——– ————————————————————–94
5.3 RECOMMENDATION ————————————————————-96
BIBLIOGRAPHY————————————————————————-98
APPENDICES—————————————————————————–100

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