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Compliance with Value Added Tax (vat) and Companies Income Tax (CIT) in Nigeria

Okafor, Chinwuba A. and Eiya, Ofiafoh (2010) Compliance with Value Added Tax (vat) and Companies Income Tax (CIT) in Nigeria. Journal of Administrative Science, 1 (1). pp. 232-243.

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Abstract

The objective of this paper is to compare the compliance with Value Added Tax and Companies Income Ta in Nigeria. Hence, in this study we compare the payment compliance level between Value Added Tax (VAT) and Companies Income Tax (CIT) in Nigeria from 1996-2008. Using percentage analysis, we compare between budgeted and actual revenue from these forms of tax. The results show that the rates of compliance for both taxes are high. However, the compliance rate of CIT was higher. We observed that most tax payers are not captured by the Federal Inland Revenue Service (FIRS) hence, we recommend to the service to carry out an inventory of eligible tax payers in the country

Item Type: Article
Uncontrolled Keywords: Compliance, Budgeted Tax Revenue, Actual Tax Revenue
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Solomon Bayoko
Date Deposited: 17 Sep 2014 15:09
Last Modified: 17 Sep 2014 15:09
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/2767

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