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TAX INCENTIVE AS A TOOL FOR ECONOMIC GROWTH IN NIGERIA CASE STUDY OF FEDERAL INLAND REVENUE SERVICE

ABSTRACT

This study examines Tax Incentive as a tool for economic growth in Nigeria. A case study of Federal Inland Revenue Service. The study discuss the life cycle of taxation in Nigeria. It covers all the types of tax incentive adopted by government to motivate tax payer respond favourably to their obligation.

The work is carried out with the aid of questionnaire, direct observation, interview and review of relevant texts on study. Forty (40) questionnaires were administered and thirty eighty (38) respondent returned their completed questionnaires. This gave a response rate of 95%

It is revealed through the data collected and observation that tax incentives do create purchasing power, saving, investment opportunities, increase profitability of a company and protect our local industries.

However, there is no enough enlighten campaign on tax incentive and it does not increase collection of taxes.

More so, Government should constitute a body to monitor tax incentive in the country

Finally, the study makes some recommendation that government should provide enough enlighten campaign, security to foreign investors, eradicate corruption in the country.

 

 

TABLE OF CONTENT                                                                       

 

TITLE PAGE                                                                                                 I

 

CERTIFICATION                                                                                         II

 

DEDICATION                                                                                               III

 

ACKNOWLEGMENT                                                                                   IV

 

ABSTRACT                                                                                                   V

 

TABLE OF CONTENT                                                                                 VI

 

CHAPTER ONE

 

 1.0   INTRODUCTION                                                                                1

 

1.1    BACKGROUND OF THE STUDY                                                     1-4

 

1.2    STATEMENT OF PROBLEM                                                             4-5

 

1.3    PURPOSE OF THE STUDY                                                                5-6

 

1.4    SIGNIFICANCE OF THE STUDY                                                      6   

 

1.5   RESEARCH QUESTION                                                                      6-7

 

1.6   SCOPE OF STUDY                                                                               7      

 

CHAPTER TWO

 

LITERATURE REVIEW

 

2.0     INTRODUCTION                                                                               8

 

2.1     FEDERAL BOARD OF INLAND REVENUE                                  9-16

 

2.2     TAX INCENTIVE IN COMPANY INCOME TAX                          16-32

 

2.3     INCENTIVE IN THE PETROLEUM INDUSTRIES                        32-37

 

2.4    TAX INCENTIVE THE PETROLEUM INCOME TAX                   37-45

 

2.5   TAX INCENTIVE IN CAPITAL GAIN TAX                                     45-50

 

2.6   TAX INCENTIVE IN VALUE ADDED TAX                                    51-52

 

2.7   TAX INCENTIVE IN CAPITAL TRANSER TAX                             52

 

2.8   THE NEED FOR TAX INCENTIVE                                                  52-55

 

CHAPTER THREE

 

3.0   RESEARCH METHODOLOGY                                                         56

 

3.1   RESEARCH DESIGN                                                                         56

 

3.2   SOURCE OF DATA COLLECTION                                                 56-57

 

3.3   POPULATION OF THIS STUDY                                                      57  

 

3.4   SAMPLE SIZE                                                                                    57-58

 

3.5   SAMPLING TECHNIQUE                                                                 59  

 

3.6   METHOD OF DATA COLLECTION                                                59

 

3.7   METHOD OF DATA ANALYSIS                                                     59-60

 

3.8   VALIDITY OF THE STUDY                                                             60

 

3.9   REALIABLE OF THE STUDY                                                          60

 

 

 

CHAPTER FOUR

 

4.0   DATA ANALYSIS AND INTERPRETATION

 

4.1   INTRODUCTION                                                                               61

 

4.2   ANALYSIS   1                                                                                    61-63

 

4.3   ANALYSIS   11                                                                                  63-65

 

4.4   ANALYSIS   111                                                                                65-68

 

4.5   ANALYSIS   1V                                                                                 68-71        

 

CHAPTER FIVE

 

5.0   SUMMARY OF THE FINDINGS, CONCLUSION AND                72-73

 

        RECOMMENDATIONS                                                                      

 

        BIBLOGRAPHY                                                                                74-75


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