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AN ASSESSMENT OF FEDERAL TAX POLICY AND ECONOMIC DEVELOPMENT

Ishola, M. and Babajide, A. A (2017) AN ASSESSMENT OF FEDERAL TAX POLICY AND ECONOMIC DEVELOPMENT. In: CUCEN 2017, Covenant University, Ota.

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Abstract

The contribution of taxation to any economy internationally cannot be over stresses. Aside from the income function it performs for the administration, it is additionally used to help the national government accomplish the macroeconomic goals in the area of financial and money related arrangements. The part of taxation in advancing economy development is not felt, mostly as a result of feasible proof which can't be seen by the people in terms of framework and fundamental amenities. Accordingly, the aim of this study is to look at the government tax strategy and economic development in Nigeria. Time series data were applied in carrying out the research work, simple and multiple linear regression was used to analyze and test the research hypotheses, the findings uncovered that value added tax, Company Income Tax and Petroleum Profit Tax have a positive significance with total national output while custom and excise duty have a negative significance with GDP. However generally speaking a significant relationship exists between value added tax, Company Income Tax, Petroleum Profit Tax and custom and excise duty. We suggest that among others that the requirement for the legislature to make prudent exploit of income produced for the advantages of Nigerians, and among others the requirement for tax changes to address the issue of tax avoidance and evasion. And the overall population ought to be taught appropriately from the grassroots on the significance of tax to the whole national advancement.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Adewole Adewumi
Date Deposited: 05 Mar 2018 17:42
Last Modified: 05 Mar 2018 17:42
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/10309

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