Effect Of Tax Revenue On The Economy Of Nigeria (2007-2016):- Esinwoke, Standhope

ABSTRACT

The topic of this research is on the effect oftax revenue in the economy ofNigeria. The purpose of this study is to assess the effect oftax revenue on the economy of Nigeria over the years, the revenue derivedfrom taxes has been very low and no physical development actually tookplace, hence the effect on the low income earners is not beenfelt. Inadequate tax personnel, fraudulent activities oftax collectors and lack of understanding ofthe importance to pay tax payers are some ofthe issues affecting the economy of Nigeria. The above problems has led to increase in recession volatility which has also affected the economic growth ofthe country. The majorproblems lies in the collection ofsuch taxes especiallyfrom the selfemployed such as the businessmen, professional practitioners like lawyers, doctors, accountants, architects and traders in shops among others. Civil servants and their salaried workers are the only class ofpeople that actually pay tax in Nigeria. However, an in-dept study of this work would help the government on proper monitoring oftaxes and administration.