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 14

1.2 STATEMENT OF PROBLEM 45

1.3 PURPOSE OF THE STUDY 56

1.4 SIGNIFICANCE OF THE STUDY 6

1.5 RESEARCH QUESTION 67

1.6 SCOPE OF STUDY 7

CHAPTER TWO

LITERATURE REVIEW

2.0 INTRODUCTION 8

2.1 FEDERAL BOARD OF INLAND REVENUE 916

2.2 TAX INCENTIVE IN COMPANY INCOME TAX 1632

2.3 INCENTIVE IN THE PETROLEUM INDUSTRIES 3237

2.4 TAX INCENTIVE THE PETROLEUM INCOME TAX 3745

2.5 TAX INCENTIVE IN CAPITAL GAIN TAX 4550

2.6 TAX INCENTIVE IN VALUE ADDED TAX 5152

2.7 TAX INCENTIVE IN CAPITAL TRANSER TAX 52

2.8 THE NEED FOR TAX INCENTIVE 5255

CHAPTER THREE

3.0 RESEARCH METHODOLOGY 56

3.1 RESEARCH DESIGN 56

3.2 SOURCE OF DATA COLLECTION 5657

3.3 POPULATION OF THIS STUDY 57

3.4 SAMPLE SIZE 5758

3.5 SAMPLING TECHNIQUE 59

3.6 METHOD OF DATA COLLECTION 59

3.7 METHOD OF DATA ANALYSIS 5960

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 6163

4.3 ANALYSIS 11 6365

4.4 ANALYSIS 111 6568

4.5 ANALYSIS 1V 6871

CHAPTER FIVE

5.0 SUMMARY OF THE FINDINGS, CONCLUSION AND 7273

RECOMMENDATIONS

BIBLOGRAPHY 7475