THE IMPACT OF TAXATION AS AN AID TO ECONOMIC DEVELOPMENT IN ANAMBRA STATE
( A CASE STUDY OF NNEWI NORTH LOCAL GOVERNMENT AREA, NAMBRA STATE, NIGERIA).
ABSTRACT
This research wok, treated impact of taxation as an aid to economic development. this research work was done to findout if actually there is an impact of taxation as aid to economic development. this research also became necessary in order to bring to the proper understanding of the enquirer the best ways to solve such problems connected with the taxation especially; what is taxable and the assessment of Nigeria tax system. It will also take cognizance of the objectives of taxation and impact on this economic development of Nigeria. The objectives of this study is to generate stable revenue or resources needed by government ot accomplish loadable projects and investment for the benefit of the people and to determine why people feel cheated when it comes to tax. To examine the relevance of taxation in Anambra state and also to determine the extent government has been using revenue generated from tax. The method for sourcing data used in this research work, was primary and secondary source. The primary source includes questionnaires formulated and oral interviews while secondary source includes the use of textbooks, internet, and library. The method used in selecting the respondents were through the use of the judgement sampling method of the non probability method of sampling. The method that investigates data are the standard deviation, chi-square, the use of percentage, using of tables. The primary function of every government is to make provision for its citizens in terms of infrastructural facilities. The provision of this enormous work cannot be carried out adequately by the government due to its limited resources therefore, there is the imposition of tax on all citizens, companies to argument government financial position.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of contents
CHAPTER ONE: introduction
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Question
1.5 Significance of the study
1.6 Scope of the study
1.7 Assumptions of the study
1.8 Definition of operational terms
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 Introduction
2.2 Definition of tax and types
2.3 Incidence of taxation
2.4 Principles of taxation
2.5 Elements of taxation
2.6 The importance of taxation
2.7 Appraisal of some tax legislation
2.8 Structure of Administration of Nigeria Tax system
2.9 The problems of taxation and its function
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research Methodology
3.2 Area of the study
3.3 Population of the study
3.4 Sample method
3.5 Research Instrument
3.6 Validity of Reliability of research instruments
3.7 Source of data
3.8 Method of investigation
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA
4.1 Data presentation and summary of results
4.2 Test of Hypothesis
CHAPTER FIVE: SUMMARY OF FINDINGS / CONCLUSIOIN AND RECOMMENDATION
5.1 Findings
5.2 Conclusion
5.3 Recommendation
References
Appendix A
Appendix B
Questionnaires
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY:
One of the major functions of any government especially developing countries such as Nigeria is the provision of infrastructural services such as electricity, pipe-borne water, hospital, schools, good roads and as well as ensure a rise in per capital income, poverty alleviation to mention a few.
For their services to be adequately provided, government should have enough revenue to finance them. The task of financing these enormous responsibilities is one of the major problems facing the government. Based on the limited resources of government, there is need to carry the citizens (governed) along hence the imposition of tax on all taxable individuals and companies to augment government financial position. To this end, government have always enacted various tax laws and reformed existing ones ot stand the taste of time. They include income Tax management Act (ITMA), companies income tax Decree (CITD), Joint Tax Borad (JIB) ect.
All these are aimed at ensuring adherence to tax payment and discouraging tax evasion and avoidance. For the purpose of this study, the researcher would be concerned with the impact of taxation as an aid ot the economic development of Anambra state (Nigaeria).
1.2 STATEMENT OF THE PROBLEM
The first need of any modern government is to generate enough revenue which is indeed “the breath of its nostrils”. Thus taxation is by far the most significant source of revenue for the government Nigeria regard payment of tax as a means whereby government raises revenue for herself at the expense of their sweat. It is good to note that no tax succeeds without the taxpayer’s co-operation. Here, we can ask some thought provoking questions such as: what makes taxation such a difficult issue? Why do people feel cheated when it comes to tax? Is government making judicious use of taxpayer’s money? In view of these questions above, this study is going to be carried out to offer solution to them.
We shall also look at the following issues and offer recommendations:
1. Problems affecting he successful operation of tax system in Nigeria.
2. How ot determine the Assessable income
3. Process of tax administration in Nigeria
1.3 OBJECTIVE OF THE STUDY
The general objective of the study is to assess the contribution of taxes towards the growth of the Anambra state economy.
However, the specific objective of the study includes:
1. To examine the relevance of taxation in Anamba state
2. To determine why people feel cheated when it comes to tax.
3. To determine the extent government has been using revenue generated form tax.
4. To examine how tax rate affects the rate of investment in the economy.
5. To know general desirability of firms to invest of tax incentive measures.
Generally, the work is done to find out if tax constitutes the bulk of government revenues and to erase the erroneous that it is exploitation by government for their selfish interest.
1.4 RESEARCH QUESTIONS
These are the questions researcher ask during the research process to help in gathering information or seeking for answers during the research, questions are the following:
1. What is taxation?
2. What ar3e the classifications of taxation?
3. How do people react to payment of tax?
4. Which system of tax is more accepted by people?
5. What are the major problem affecting the Nigeria as system?
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