Brings the personal income tax act up to date with existing realities of the nigeria economy 2introduces a more equitable tax system by providing realistic tax rates, and recommending an efficient and effective tax administrative system, and simpler tax laws. Nigerian tax system: implications for foreign investors by personal income tax act (pita) cap 8 lfn, 2004 (as amended) 50 tax administration in nigeria the . Tax structure and economic growth in nigeria - damian nwosu - master's thesis - economics - economic cycle and growth - publish your bachelor's or master's thesis, dissertation, term paper or essay. The personal income tax which is a form of direct tax is one sure way of revenue for the governments however, there have been some bottlenecks in its administration in nigeria personal income tax in nigeria has remained the most unsatisfactorily, disappointing and problematic of all the taxes in nigeria today. Policy makers and researchers have long been interested in how potential changes to the personal income tax system affect the size of the overall economy get updates on economics from .
While it is difficult to draw clear-cut normative policy prescriptions from international comparisons as regards the income-consumption tax mix, a compelling implication revealed by the comparison is that economic development tends to lead to a relative shift in the composition of revenue from consumption to personal income taxes. Effective personal income tax administration: a panacea to dwindling economic fortunes of nigerian states income or profit from nigeria in a bid to grant some measure of autonomy to the . Perception of tax fairness and personal income tax compliance that the perception of fairness is likely to influence personal income administration however . Personal income tax administration in nigeria: challenges and prospects for increased revenue generation from self employed persons in the society global business and economics research journal , 1(1): 1-11.
He finds a robust negative effect of the tax burden on economic growth, where the tax burden is defined as the ratio of state and local tax revenues to personal income he finds this result is robust for both “contemporaneous” changes in the tax burden, ie, within the five year period, and the initial level of the tax burden. The personal income tax in nigeria is regulated by income tax management but the administration is vested in joint tax board the board exercises power and duties confirmed on in by income tax management act (itma) and other powers agreed upon by the government of each state. Nigeria disposable personal income this page provides - nigeria disposable personal income - actual values, historical data, forecast, chart, statistics, economic calendar and news actual. Ways towards a more efficient tax administration in nigeria 20 pre 2002 tax reform efforts of personal income tax up to n200, 000, consolidation of personal . Tax administration in nigeria: problems and prospects also maintain that the economic effects of tax include micro effects on the distribution of income and .
For the purpose of orderliness, related literature will be reviewed in the following areas definition of income, an overview of personal income tax in adamawa state, personal income tax, accountability and fairness in tax administration, problems of personal income tax collection, the nigeria code of ethics for efficient tax administration . Problems of personal income tax generation and administration (a case study of internal revenue enugu north) tax67765 impact of federal government tax policies on nigerian economy. Tax system in nigeria – challenges and the way forward of 1961in nigeria, personal income tax (pit) for salaried employment is based on a pay as you earn (paye .
Real estate taxes, earned income and personal income taxes, sales tax, and lottery revenue are factors that make up these differences progressive taxes increase as taxable base amounts increase progressive taxes have an effect on income and expenditures. Personal income tax compliance the perception of taxpayers’ of the government of the day has a significant impact on how they comply with personal income taxation taxpayers’ income has a significant impact on personal income tax compliance the gender of the taxpayer has no. The study examines the effect of tax avoidance and tax evasion on personal income tax administration in nigeria tax evasion and tax avoidance, a problem which seems to have defied solution, had been deviled the tax system right from colonial times. Project topics and materials for accounting and banking/finance students in nigeria of personal income tax administration in nigeria (a survey of the private .
Risk management in tax administration: an examination of vaids witholding tax and vat by suleiman dikwa recently, the federal government of nigeria introduced the voluntary assets and income . In nigeria, the personal income tax rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends the benchmark we use refers to the top marginal tax rate for individuals. For example, reduced rates of corporate tax for small firms do not seem to enhance growth, and high top marginal rates of personal income tax can reduce productivity growth by reducing entrepreneurial activity.
But personal income tax act (pita) 1993 through decree 104 of 1993 replaced all the previous laws on personal income tax and is presently the law guiding all operations and administration of personal income tax in nigeria. 3 abbreviations and acronyms cemac communauté économique des états d’afrique centrale cit corporate income tax eac east african community ecowas economic community of west african states. Concurrent taxation such as the personal income tax, capital gains tax and stamp duties, the federal government tax administration in nigeria is generally poor . Importance of taxation in nigeria income tax is very important, because it is one of the major sources of revenue of nigeria government personal income tax is .
Many researchers have argued the impact of tax administration on economic growth of any determine the impact of company income taxation on personal income tax . Evaluation of personal income tax administration and the socio-economic development of ikeja local government area of lagos state impact of tax reforms on economic growth of nigeria impact of taxation as an aid to economic development in bauchi.