Impact of Tax Revenue on Economic Growth in Nigeria (A Study of Abia State Board of Internal Revenue):- Ekeh Goodness M
ABSTRACT
The
study examined the impact oftaxation revenue on economic growth in Nigeria. The
objectives ofthe study are; to evaluate the effect ofcompany income tax on
gross domesticproduct ofNigeria, to examine the effect ofpetroleumprofit tax on
gross domesticproduct ofNigeria, and to examine the effect ofvalue added tax on
gross domestic product ofNigeria. To achieve the objective ofthe study, ex-post
facto research design was adopted. The researcher adopted secondary data in
getting the required information through Central Bqnk of Nigeria (CBN)
Statistical Bulletin (various years), and internet and journal publications. In
testing the hypotheses, the study employed multiple regression technique
ofanalysis technique in order to determine the impact of taxation revenue on
gross domestic product (proxyfor economic growth) ofNigeria. Thefindings
revealed that value added tax has no significant effect on economic growth in
Nigeria. The study recommends that more attention should be devoted to how tax
revenue from petroleum profit tax is remitted. Frugality, transparency and
accountability should be the watchword when allocating resourcesfrom this tax revenue
and economic growth. The study also recommends that tax revenue from Value
added tax, company income tax appear not to be significant but these tax
revenue can further be used efficiently for economic development and growth,
the potentials inherent in this source oftaxation is enormous.
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EKEH, M (2024). Impact of Tax Revenue on Economic Growth in Nigeria (A Study of Abia State Board of Internal Revenue):- Ekeh Goodness M . Repository.mouau.edu.ng: Retrieved Nov 22, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-tax-revenue-on-economic-growth-in-nigeria-a-study-of-abia-state-board-of-internal-revenue-ekeh-goodness-m-7-2
MATTHIAS, EKEH. "Impact of Tax Revenue on Economic Growth in Nigeria (A Study of Abia State Board of Internal Revenue):- Ekeh Goodness M " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 07 Aug. 2024, https://repository.mouau.edu.ng/work/view/impact-of-tax-revenue-on-economic-growth-in-nigeria-a-study-of-abia-state-board-of-internal-revenue-ekeh-goodness-m-7-2. Accessed 22 Nov. 2024.
MATTHIAS, EKEH. "Impact of Tax Revenue on Economic Growth in Nigeria (A Study of Abia State Board of Internal Revenue):- Ekeh Goodness M ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 07 Aug. 2024. Web. 22 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-tax-revenue-on-economic-growth-in-nigeria-a-study-of-abia-state-board-of-internal-revenue-ekeh-goodness-m-7-2 >.
MATTHIAS, EKEH. "Impact of Tax Revenue on Economic Growth in Nigeria (A Study of Abia State Board of Internal Revenue):- Ekeh Goodness M " Repository.mouau.edu.ng (2024). Accessed 22 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-tax-revenue-on-economic-growth-in-nigeria-a-study-of-abia-state-board-of-internal-revenue-ekeh-goodness-m-7-2