ABSTRACT
This research work on tax incentive as a catalyst for industrial development and economic growth in Nigeria was primarily undertaken to evaluate the effectiveness of tax incentives in developing the Nigerian economy, the extent to which individuals and companies have been responding to the incentive scheme, and how these incentives have been stimulating and motivating these bodies on employment opportunities. The researcher also intends to examine how these incentives has helped the existing industries and firms in expanding their areas of operation and to know if the aim of granting these incentives are being achieved by the government and implemented by the beneficiaries. An empirical study using a well structured questionnaire to assess the relationship that exists between tax incentives, industrial development and economic growth using four different incorporated industries and firms in Portharcourt, Rivers state having considered the type of incentives offered to them by the government. A total number of seventy-five (75) questionnaires were specifically administered to the top and middle management staff (CEO’s managers and Accountants) of these industries and firms and a total number of (60) sixty were retrieved. The hypothesis formulated were tested using the chi-square (X2) method and it was discovered that the tax incentives granted were inadequate to sustain the desired development for which it was granted. Finally, recommendations were made as regards variables which will enhance tax incentives towards industrial development and economic growth.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Tax studies have become increasingly sophisticated especially during
the past decade and have yielded conflicting results as regards the tax matter. Some studies focus on the cost and benefit of tax incentives while a few look at whether public funds could have been better spent or if tax incentives were economically justified. Tax studies offer little guidance to policy makers who are concerned about tax rates or tax offerings and the effectiveness of employing tax incentives as an economic and developmental tool.
The mode by which industrial development and economic growth can be effectively, efficiently, stimulated and developed is very demanding. As a result of this, the government charges less tax and gives tax holidays in order to encourage investments and economic activities in those areas which help to improve production capabilities, activate economic growth as well as the allocation of resources in a socially desirable manner.
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Item Type: Project Material | Size: 105 pages | Chapters: 1-5
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