Thesis Abstract

This research project aims to compile bibliographic abstracts and index bibliographic information on taxation in Nigeria. The study focuses on gathering and organizing relevant literature related to taxation laws, policies, practices, and challenges in Nigeria. By systematically reviewing and summarizing existing bibliographic information on taxation in Nigeria, this research seeks to provide a comprehensive resource for scholars, policymakers, and practitioners interested in the field. The compilation of bibliographic abstracts will involve identifying key sources such as academic journals, government publications, research reports, and books that discuss various aspects of taxation in Nigeria. These sources will be analyzed to extract essential information including the author, title, publication year, abstract, and keywords. By indexing this information, the research aims to create a structured database that can be easily searched and referenced. The project will cover a wide range of topics related to taxation in Nigeria, including but not limited to the legal framework governing taxation, tax administration and enforcement, tax compliance and evasion, tax incentives and exemptions, and the impact of taxation on economic development. By synthesizing information from diverse sources, this research will provide a comprehensive overview of the current state of taxation in Nigeria and highlight areas for further research and policy development. The compilation of bibliographic abstracts and indexing of bibliographic information on taxation in Nigeria will contribute to the existing body of knowledge on this subject. By organizing and presenting relevant literature in a structured format, this research project aims to facilitate access to information for researchers, policymakers, and other stakeholders interested in taxation in Nigeria. The structured database resulting from this study will serve as a valuable tool for conducting literature reviews, identifying research gaps, and informing policy decisions in the field of taxation. Overall, this research project will provide a systematic overview of the literature on taxation in Nigeria, offering insights into the key issues, trends, and challenges facing the country's tax system. By compiling and indexing bibliographic information, this study aims to enhance understanding and promote further research on taxation in Nigeria.

Thesis Overview

INTRODUCTION

This complication dealt with taxation as a subject, its principles objectives, classes, purpose and effect in any given economy weather.

Taxation is a compulsory but non-punitive levy on properties, income of individual and co-operation bodies. The money raised there constitutes part of source of finance for general government expenditure in the economy. It involves transfer of resources or income from private sector to the public sector in order to accomplish or achieve some of the major economic social and economic responsibilities under taken by the government.

Taxation according to the encyclopedia is the process by which the people pay for the expenses of the government.

System of taxation taxes are classified as progressive proportional or regressive according to the percentage of income they take as income raises or fails.

a.          Progressive Tax System: Under the progressive taxation, the higher the proportion of income, which is taken away as tax and lower the income, the proportion of income taken away an increasing proportion of raises.

b.          Proportional Tax System: This system whereby the rate of taxation is the small for all human earners.

c.           Regressive Tax System: The higher the income the lower the percentage income which is taken away as tax. Regressive taxation s common where the rich and poor have to pay some amount of money as tax, either directly as poll tax indirectly in the form of higher prices. A goods and services consumed by both the rich and the poor. In west Africa most taxes are regressive since people in the various communities are usually asked to pay certain fixed sum of money toward certain development project. Irrespective of income and also since indirect taxes like import and export duties from a greater proportion of government revenues.

SOME ECONOMIC EFFECTS OF TAXATION

1.          A deterrent to work: Heavy direct taxation especially when closely linked to current earnings can act as a serious check to production by encouraging absenteeism and making men disinclined to work overtime. However direct taxation may actually increased to incentive to work in order to earn more money as to buy goods which the indirect taxes have made clearer.

2.          A deterrent to Savings: Taxation will clearly reduce people’s ability to save, since it leaves them with less money as their disposal. Taxation may therefore act as deterrent to savings.

3.          A deterrent to enterprise: Those who regard profit as a round for enterprise condemn tax on profit because they consider that such taxes checks enterprise. It is argued that the business men will embark on large profit if they are successful. Heavy taxation on profit, it is said, robs them of their possible reward without providing compensation on the case of failure.

4.          Taxation may encourage inflation: We have already seen that one of the methods used to fight inflation is to budget for a large surplus, the object being to reduce by increased taxation the amount of purchasing power in the hands of consumers, with full employment however increased indirect taxation will lead to demand for higher wages, thereby encouraging inflation.

5.          Diversion of Economics: Taxation of commodities may force produce to direct resources into tax free areas irrespective of the people’s wish.