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: Postgraduate Material | Attribute: 127 pages | Chapters: 1-5
Format: MS Word | Price: N3,000 | Delivery: Within 30Mins.
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