A CRITICAL ANALYSIS OF TAX SECTOR REFORMS IN NIGERIA FROM 1978-2012

📄 Project Abstract

Taxation remains a veritable instrument for national development. Apart from being a major source of revenue for the government, taxation provides goods and services needed by citizens. Taxation policies can stimulate economic growth and job creation through its impact on investment and capital formulation in the economy. In this respect reforms in the tax system that ensure effectiveness, equity and efficiency are conditions for healthy public revenue. The decision to reform the Nigerian tax system is crucial in order to improve the revenue base for national development and attaining socio-economic goals for taxation. The thesis which adopts the doctrinal approach examines the process that led to the current tax reforms under the Federal Inland Revenue Service (Establishment) Act, 2007 and the reforms initiated by the Act; the impact of the tax reforms under the Act on tax administration at the federal level; and the gap and challenges faced in the implementation of the reforms. The f...