Effect Of Tax Reforms On Government Revenue And Economic Growth In Nigeria (A Case Study Of Federal Inland Revenue Service (Firs) Uyo, Akwa Ibom State)
ABSTRACT
This research is
carried out to primarily assess the effect of tax reforms on government revenue
and economic growth in Nigeria and to determine significant factors militating
against effective implementation of tax reforms. The study adopts a combination
of survey research design and longitudinal design. Records of federally
collected tax revenue from 1981 to 2007 and Gross domestic product in Nigeria
were collected. This was complemented with survey data obtained from 250
respondents using research designed questionnaire validated by experts.
Descriptive statistics, T - test statistics, correlation and regression
techniques were used in analysing the data. Our results show that tax reforms
facilitate a shift to a large extent from direct to indirect tax and a significant difference in the mean of federally collected tax revenue over the period
of tax reforms in Nigeria. The work further identities lack of equality,
multiplicity of tax, poor taxation drive from tiers of government, Compton
among tax administrators, tax avoidance and evasion, poor nature of data collection
as significant factors that militate against effective implementation of tax
reforms. Periodic mean score of 875.528 and 2445.17, standard deviation of
1022.528 and 2096.85 with t-value of 8755.82 and 24451.67 respectively. The
study therefore concludes that tax reforms enhance economic growth and
development in Nigeria. It enables the economy to be internationally relevant,
increasing foreign investment inflows and therefore should be embrace by all.
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OBOT, F (2021). Effect Of Tax Reforms On Government Revenue And Economic Growth In Nigeria (A Case Study Of Federal Inland Revenue Service (Firs) Uyo, Akwa Ibom State) . Repository.mouau.edu.ng: Retrieved Nov 26, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-tax-reforms-on-government-revenue-and-economic-growth-in-nigeria-a-case-study-of-federal-inland-revenue-service-firs-uyo-akwa-ibom-state-7-2
FRIDAY, OBOT. "Effect Of Tax Reforms On Government Revenue And Economic Growth In Nigeria (A Case Study Of Federal Inland Revenue Service (Firs) Uyo, Akwa Ibom State) " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 29 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-tax-reforms-on-government-revenue-and-economic-growth-in-nigeria-a-case-study-of-federal-inland-revenue-service-firs-uyo-akwa-ibom-state-7-2. Accessed 26 Nov. 2024.
FRIDAY, OBOT. "Effect Of Tax Reforms On Government Revenue And Economic Growth In Nigeria (A Case Study Of Federal Inland Revenue Service (Firs) Uyo, Akwa Ibom State) ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 29 Jun. 2021. Web. 26 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-tax-reforms-on-government-revenue-and-economic-growth-in-nigeria-a-case-study-of-federal-inland-revenue-service-firs-uyo-akwa-ibom-state-7-2 >.
FRIDAY, OBOT. "Effect Of Tax Reforms On Government Revenue And Economic Growth In Nigeria (A Case Study Of Federal Inland Revenue Service (Firs) Uyo, Akwa Ibom State) " Repository.mouau.edu.ng (2021). Accessed 26 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-tax-reforms-on-government-revenue-and-economic-growth-in-nigeria-a-case-study-of-federal-inland-revenue-service-firs-uyo-akwa-ibom-state-7-2