The role of taxation in economic development is same for all the countries this is as we know the basic resource of generation govt. The role of taxation in the nigerian economy by tunde sodamola on march 20, 2016 taxation has been one of the ways in which government is able to finance its activitiesgovernment imposes levies on individuals, companies, organisations in the form of tax so government machinery can run constantly and continuously.
The modern nigerian economy nigeria is located on the west coast of africa and is the most populous black country in the world, bordering the north atlantic ocean, between benin and cameroon nigeria covers 356,668 sq miles and is about the same size as california, nevada and utah combined. The modern nigerian economy the modern nigerian economy nigeria is located on the west coast of africa and is the most populous black country in the world, bordering the north atlantic ocean, between benin and cameroon nigeria covers 356,668 sq miles and is about the same size as california, nevada and utah combined nigeria is diverse in people and culture. Running head: taxation and prive control on the economy taxation and price control on the economy march 22, 2009 taxation, a system of raising money to back our government, in which all governments require payments of money-taxes-from people the government use tax money to pay for expenses that are well needed such as: the service of america soldiers, police officers service, hospitals and the list go on.
The indispensable role of taxation for state development in nigeria maria chinecherem uzonwanne department of economics, nnamdi azikiwe university, awka, anambra state, nigeria. Iii) to examine the role of taxation for economic development of nigeria iv) to find out the importance of taxation in the development of an economy through proper use of its tools v) to make possible recommendations based on the findings of this research work. The role of taxation in development is controversial taxation provides income for the government which may use it to invest in public services or to distribute it as money transfers. The general objective of the study was to examine the effect of taxation on the growth of the nigerian economy the specific objectives include: (i) to examine the relationship between petroleum profit tax and the nigerian economy (ii) to examine the impact of personal income tax on the nigerian economy.
Taxation in nigeria – origin and importance of taxation in nigeria august 12, 2013 by articles 15 comments taxation in nigeria – the earliest trace of any form of direct taxation in nigeria even before the british administration was in northern nigeria. In recent times, consideration and attention have been focused on the fiscal policies best suited to the economic development of the country as part of this search for desirable fiscal policies, consideration is being placed on the role of tax policies recently the federal government has introduced the value added tax (vat) no, 102 of 1993. What role does insurance play in the social and economic development of nigeria as a nation this is a much maligned and debated issue in the ongoing progression of many african nations although, it has to be said, insurance capital has influenced nigeria greatly sin ce the countries inception, it cannot be credited with achieving the amount in social and economic terms as the dildo tax has.
Ii) to find out whether taxation contributed to the development of nigeria economy iii) to examine the role of taxation for economic development of nigeria iv) to find out the importance of taxation in the development of an economy through proper use of its tools. There are various methods and types of taxation both for individuals and businesses and corporation tax is not the only potential avenue the africa research institute produced a paper arguing that property tax would benefit the african economy in raising revenue.
In nigeria, the major source of government revenue include personal income tax, company income tax, petroleum profit tax, company income tax, petroleum profit tax, capital gain tax, capital transfer tax, import duties, etc. I hope the readership have been properly educated on the role of taxation in the nigerian economy although there are still very many challenges in the area of collection,and on the part of taxpayers.
Nigeria economy 3 chapter 1: the discovery of oil and the nigerian economy 4 type chapter title (level 2) 5 type chapter title (level 3) 6 abstract: nigeria has remained a point of reference in africa and on global level this is stem from the fact that, it is one of the largest exporters of crude oil to developed nations of the world. The importance of taxation tax plays an important role in nigeria society it is a strong force for economic development in the country from the pre-colonial, colonial and post-colonial eras it is by far the most significant source of revenue for modern government hence recently calls for increase in taxation. Economic development is the first priority of every developing nation, nigeria being a developing nation is no exception the concept of economic development is closely related to economic growth, these two concept are more often than not used interchangeably.