ABSTRACT
Since advent of the oil boom in Nigeria, taxation as the major source of public finance was neglected. The Nigerian major source of revenue became proceeds from crude oil Now that there is imbalance in allocation of revenue from oil sales by the federal government to states and local government. Government and people now seek alternative or ways to augument the insufficient amount received as their share of federal allocation. This now leads to taxation as an indispensable tool in economic planning and development of any nation. This study is therefore aimed at critical appraisal of Nigerian tax laws as administered by Enugu State government. To carry out the study, data for research were collected based on secondary data (Time series data) from staff of Enugu State board of internal revenue in Enugu, supplemented by personal interview. Data collected were analyzed using Z-tests which are two sample Z-test used for 2000-2005 and one sample Z-test used for 2006-2010 which led to rejection of null hypothesis in chapter one.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Tax is an important factor in economic planning and development of every nation, also it is an important agent of social change.
Taxation as defined by Ogundele (1999), is the process or machinery by which communities or groups of persons are made to contribute in some quantum and method for the purpose of the administration and development of the society. It can be inferred that the payment of tax will in turn be beneficial to the entire citizenry. This view is also similar to the definition of Soyode and Kajola (2006) who defined tax as a compulsory exaction of money by a public authority for public purposes. Nightingale (1997) described tax as a compulsory contribution imposed by the government on the citizenry. These various authors concluded that it is possible for tax payers not to receive anything identifiable for their contribution, but that they
Tax is an instrument of fiscal policy, which plays a leading role in every organized society irrespective of the political or constitutional structure. Once a society becomes stabilized, civilized or law abiding the functions of government becomes enormous resulting in heavy expenditure and necessitating tax payments by its subjects. Tax as the transfer of resources from private sector to public sector in order to accomplish some of the nation’s economic and social goals.
Further more, tax is a compulsory levy imposed on the payer by a legal authority or recipient public authority. Throughout the history of mankind, the right to raise tax has been one of the principal features of political authority. For a country like Nigeria, the primary economic goal is to....
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Item Type: Project Material | Size: 128 pages | Chapters: 1-5
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