Effects Of Tax Evasion And Tax Avoidance On Revenue Generation And Economic Development In Nigeria:- Umunna Ogechukwu G

ABSTRACT

The study is on the Effects of 'fax Evasion and Tax Avoidance on Revenue Generation and Economic Development in Nigeria. The objectives of the study was to; to assess the effect of tax evasion on federally collected tax revenue in Nigeria and to examine the effects of tax avoidance on federally collected tax revenue in Nigeria. Descriptive research design was used lor the study. The study took into consideration 200 number of questionnaire which the 132 number of questionnaire that were signed and returned from the respondents ot ministry of finance Abia State Nigeria. Questionnaire was used to collect the data. The findings of the study revealed and strongly agreed that Tax evaded revenue has no significance effect on federally collected revenue in Nigeria. The study also identified 'fax evaded revenue has no significant effect on economic development. The study also evaluated the effects of tax evasion and tax avoidance on revenue generation and economic development in Nigeria. The study’s conclusion was carried out with the broad objective of examining the effects of tax evasion and tax avoidance on revenue generation and economic development in Nigeria. Based on the findings of this study from the test of the research hypotheses. The study recommended that the Government should endeavor to adopt frequent audit ofthe finances and accounts oftheir parastatals which is necessary so as to point out weaknesses in the public sector accounting control and put in place effective internal control measures that will enhance proper public sector accounting, the auditing processes and procedures of ministry of finance should go beyond the physical paper procedure and also the government should endeavor to prosecute officials or sanction such officials that are found wanting in respect to the bad practices uncovered by audit such that such activities will be minimized.