ABSTRACT
This research work “A Critical Appraisal of the Nigerian tax laws “ A case study of Enugu State Board of Internal Revenue (1998-2007) is based on the fact the Act 104 of 1993 creates a distinct legal regime for the taxation of personal income Tax in Nigeria. However inspite of that the Act made generous provisions as to the income to be assessed on the hand of the tax payers, the tax yield does not reflect these generous provisions. The government has not achieved its targeted revenue, hence has not been able to meet the needs of its subjects since the Act came into operation.
In view of this comes the need of this work to critically re-appraise the Act (as amended) with the intention of introducing reforms where necessary. Such that the Act shall meet, as much as possible the classical cannons of a good tax system as well as the development needs of the economy. The findings, conclusion and suggestion(recommendations) was drawn, on the study. The findings high lighted the problems inherent in the Tax laws and administration such as flaunts in the laws, loopholes, Ambiguities, insufficient, provisions for enforcement, conflicting, provisions as well as problem of judiciary interpretation of Tax statues. Also absence of specialized revenue court among others. Administratively, the tax officials do not receive adequate remuneration and training. Moreover, they are not involved in the policy making.
Valuable solutions were adduced, which if, implemented would remedy the situations and increase the revenue generation as expected of the Act. Such recommendations as.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND AND THE NEED FOR THE STUDY
Capital forms an important factor in production processes, as well, essential ingredient in furthering economic growth and development.
Infact, without adequate financial resources no business enterprise or government (federal state or local government) can function effectively and efficiently (Adetunji 1997:16).
Government like an individual or business organization require funds for its day to day activities however, unlike these other bodies or persons it has the primary objective of raising the standard of living of the citizens through the provision of such amenities and services as education, public health, good roads, potable water supply, electricity, market, defense etc. hence, Paul Eriliri (1987:14) expressed “one of the basic function of the protection of the property and the basic function of the state as seen by the natural law theories is the protection of the property and the property owners should therefore pay for the state expenses. Similarly, services that tend to increase the value of property must also be compensated.
Accordingly, government therefore, gives serious attention in discovering means of raising revenue to meet these responsibility (Olusanya 1978:206)
In the words of Adentunji (1997:16) though such funds can be generated from taxes and royalties, there is a limit to the extend to which this can be done to avoid over burdening the citizens. Sharing the same view with Eriliri, Adam Smith in his famous book “the wealth of the nation. “Every subject has to contribute to the coffer of the state. These contribution according to Omeje (1992:16) have been with a lot of resistance, creating evil passion and mortification of the honourable poverty. Hence the need for a self rules and regulation that would guide the assessment and collection of the contribution (tax). Therefore, president Esuhere during his budget speech to the American Congress had this to say “we shall develop a tax system that would encourage, savings and investment for the economy which is ours” the above statement is saying nothing short of tax law that would be used to attain government policies.
The legal regime that governs the tax system in Nigeria is the tax laws as amended. There is no gain saying that once, rules and regulations are formulated to guide a system, there is the...
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Item Type: Project Material | Size: 127 pages | Chapters: 1-5
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