ABSTRACT

The Topic of this study was:  the problem and prospect of Company Income  Tax in Nigeria. The problem  of assessment and,  collection of tax from companies is difficult due to fraudulent under declaration of income and making  of incorrect returns by companies coupled with collusion of officials  of the department.  Again the problem and crime of tax evasion is real  and so much in Nigeria economy where individuals and companies use all means to avoid due Tax liability. The population  embodies  the entire staff of the Federal Inland  Revenue Service (HRS)  River State.  As at the time of this study,  the population was one hundred and  twenty staff. The instrument used for the collection of data for the purpose of this study include questionnaires,  supported  by interview,  text books, journals, observations etc. from the finding it was discover that  the more efficient and effective the companies income Tax Administration    is  the more revenue it  generate to the government. Also in finding  the  researcher observed that (FIRS)   has not gone far in  the achievement  of  its  objective  as  expected  by  the  government  any measure  put  in  place  by  the  board  to  enhanced  the  efficiency  of company income tax in Nigeria will directly increase the revenue that will be generated   to  the  government.   The   Recommendations     is  that Government should provide  adequate infrastructure and manpower for the Board to carry out its functions.  And that adequate relevant tax laws should  be   put  in  place  in order  to  reduce  unlawful  practices  of tax evasion and measure to punish tax defaulters. 

PROJECT ASSESSMENT .. i

TITLE .. .. ii

DECLARATION .. iii

CERTIFICATION .. iv

DEDICATION .. v

ACKNOWLEDGEMETN . .. vi

TABLE OF CONTENTS  . .. vii

LIST OF TABLES . .. x

ABSTRACT . .. xi

CHAPTER ONE: INTRODUCTION

1.1      BACKGROUND INFORMATION

1.2      STATEMENT OF PROBLEMS ..

1.3    OBJECTIVE OF THE STUDY ..

1.4    RESEARCH QUESTIONS.

1.5      RESEARCH HYPOTHESES ....

1.6    JUSTIFICATION OF THE STUDY . .      ..

1.7      LIMITATIONS OF THE STUDY ..

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.0    OVERVIEW OF THE NIGERIAN TAX SYSTEM

2.1     NATURE AND DEFINITION OF TAX

2.1.1  REASON FOR IMPOSITION OF TAX

2.1.2  FUNCTION OF TAXATION

2.2    HISTORY  OF COMPANIES INCOME TAX

2.3    FEDERAL INALND REVENUE SERVICE BAORD

2.3.1 COMPOSITION OF THE BOARD

2.3.2 FUNCTION OF FEDERAL INALND REVENUE SERVICE BOARD

2.3.3  POWERS OF THE BAORD

2.3.4 TECHNICAL COMMITTEE THE BOARD

2.4     THE JOIN TAX BAOD

2.4.1 COMPOSITION OF THE JOIN TAX BAO RD

2.42   FUNTION OF THE TAX BAORD

2.5     IMPOSITION OF THE COMPANY INCOME TAX

2.6    TAXABLE I CHARGABLE  PROFIT

2.6.1 COMPANY PROFIT

2.6.2 COMPANY PROFIT EXPECTED FROM TAX

2.6.3 COMPANY INCOME TAX RATES

2.6.4  PAYMENT OF MINIMUM TAX BY COMPANIES

2.6.5  PERSONS CHARGEABLE TO COPANIES INCOME TAX

2.7 THE PROBLEM AND PROSPECT OF COMPANY INCOME TAX ADMINISTRATION

CHAPTER  THREE:  RESEARCH  METHODOLOGY

3.1      RESEARCH DESIGN ..

3.2     AREA OF STUDY  . .            ..

3.3    SCOPE OF STUDY . .     ..

3.4    POPULATION OF THE STUDY ....

3.5     SAMPLE AND SAMPLING TECHNIQUES ..         ..

3.6    DATA COLLECTION PROCEDURE ..           ..

3.6.1 INSTRUMENT(S) ..

3.6.2  VALIDITY AND RELIABILITY ..

3.6.3   ADMINISTRATION..       ..

3.6.3  ADMINISTRATION..     ..

3.7     DATA ANALYSIS PROCEDURE ....

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1    RESEARCH QUESTION 1/HYPOTHESIS 1          .

4.2     RESEARCH QUESTION 2/HYPOTHESIS 2     .

4.3    RESEARCH QUESTION 3/HYPOTHESIS 3     .

4.4    RESEARCH QUESTION 4/HYPOTHESIS 4     .

4.5      RESEARCH QUESTION n /HYPOTHESIS n ..

4.6    SUMMARY OF RESULTS ....

CHAPTER  FIVE: SUMMARY,  CONCLUSION  AND RECOMMENDATIONS

5.1      SUMMARY  OF FINDINGS  ....

5.2    CONCLUSION    ..

5.3      RECOMMENDATIONS   ..

5.4     SUGGESTION(S)   FOR FURTHER  RESEARCH  ..

BIBLIOGRAPHY   ..

APPENDICES