What chapters are covered in this Accounting project?

Title page Approval page ii Dedication &nb

How can I get the complete material for this Accounting project?

The complete research material for this Accounting project is available through Blazingprojects. Contact via WhatsApp at +2348111770269 to purchase the full write-up.

Home

Accounting

TAX MANAGEMENT AND REVENUE GENERATION (A CASE STUDY OF ANAMBRA STATE)

TAX MANAGEMENT AND REVENUE GENERATION (A CASE STUDY OF ANAMBRA STATE)

Title pageApproval page                                                       iiDedication                                                             iiiAcknowledgement                                                 ivAbstract                                                               vTable of contents                                                   vi

Chapter ONE

INTRODUCTION

<ol><li>Background of the study                                   1<ol><li>Statement of the problem                                 6</li></ol><ol><li>Objectives of the study                                     8</li></ol><ol><li>Research Questions                                         9</li></ol><ol><li>Significance of the study                                   11</li></ol><ol><li>Scope of the study                                           11</li></ol><ol><li>Limitation of the study                                     12</li></ol><ol><li>Definition of terms                                           13</li></ol></li></ol>References                                                     14

Chapter TWO

LITERATURE REVIEW

2.0 LITERATURE REVIEW2.1 History of Orumba-South L.G.A                         162.2 Meaning and definition of Taxation                     17
2.3Statutory Tax Laws in Nigeria                           21
2.4Tax Administration in Nigeria                             23
2.5Sources of generating revenue                           31
2.6Cannons of Taxation                                       33
2.7The Purpose of Taxation                                   34
2.8Tax System                                                   36      References                                                     31CHAPTER THREE
3.0RESEARCH METHODOLOGY
3.1Introduction                                                   38
3.2Research Design                                             38
3.3Sources/method of data collection                     39
3.4Population and sample size                               39
3.5Sampling techniques                                       41
3.6Method of data analysis                                   42            References                                                     42CHAPTER FOUR
4.0PRESENTATION AND ANALYSIS OF DATA
4.1Introduction                                                   43
4.2Presentation of data                                               434.
3.Analysis of data                                               44CHAPTER FIVE
5.0SUMMARY, CONCLUSION AND           RECOMMENDATION
5.1Summary of finding                                       59
5.2Conclusion                                                   60
5.3Recommendation                                           62
5.4Area of study                                                       63  BIBLIOGRAPHY                                                       64APPENDIX                                                       66QUESTIONNAIRE                                                                                       67

Project Abstract

This study was set to determine the impact of good tax management on revenue generation in Anambra State, using Orumba south Local Government Area as the area of study. The study was necessitated by the increasing financial burden on the government at levels occasioned by the surging need to provide social services and infrastructural development for the governed. To accomplish the objective of the study, the researcher has reviewed the opinions of established authorities on the subject matter of study. Well- structured questionnaires were used to elicit information from respondents forming the sample of study. Data were collected using questionnaire and were analyzed using frequency tables and percentages.The analysis result revealed that;<ol><li>The tax system is designed and formulated to facilitate generation of revenue.</li><li>The tax system is planned to prevent evasion and avoidance of tax by citizens.</li><li>In spite of the high demand for social services and infrastructural development, tax payers still avoid tax.</li><li>Tax management in Orumba south L.G.A is effective and has resulted to increased generation of tax revenue.</li></ol>On the basis of the above findings, the researcher recommends that;<ol><li>The citizens should be sensitized on the need to pay their taxes as a civic responsibility.</li><li>Tax personnel should be persons of proven character</li><li>Government should ensure stricter enforcement of existing tax laws to ensure compliance.</li></ol>

Project Overview

1.0 INTRODUCTION<ol><li>BACKGROUND OF THE STUDY</li></ol>The prime objective of every government is to maintain law and order, to provide and maintain basic essential services without which the community will be unimaginable and which by their nature cannot be left appropriately in the hands of private entrepreneurs. Such services include Internal Law and Order, Maintenance of National defense, provision of good healthcare system, educational system, transportation system, agricultural system etc. To cover the cost of providing these goods and services for the public good, government must generate financial and adequate revenues. The quest to governing meaningful financial resources has often led government to designing and administering some efficient and effective revenue generation systems. Primarily the main source of government revenue includes the following:<ol><li>Taxation on citizens</li><li> Taxation on income of companies</li><li>Borrowing</li><li>Grants.</li></ol>Amongst these sources, taxation (the demand made by the government of a country for a compulsory payment of money by the citizens of that country.) remains the most outstanding. This may be due to it being a civic responsibility that must be performed by the citizens of the state. As a non-penal by compulsory transfer of resources from the private sector, taxation must be levied on the basis of equity, certainty, convenience, economy and productivity. Unfortunately, taxes are not paid in exchange for specific things but are collected for the sake of public welfare and interest.      Government often uses various kinds of taxations to generate the required revenues. For instance, direct taxes which include personal income tax, often applied on employees, sole traders, partnership, capital gain tax on companies, individual and non- co-operate entities, capital transfer tax (applicable asset transferred from one person to another), purchase tax, petroleum profit tax, and company income tax has constituted a significant source of revenue to the government. Similarly, indirect tax, e.g. stamp duties, custom duties, industrial training fund, toll paid on federal highways, will have often enhanced government revenues.The administration of tax in Nigeria is in the hands of three relevant tax authorities viz:<ol><li>The joint Tax Board</li><li>The federal Board of Inland Revenue</li><li>The various state Board of Internal Revenue</li></ol>In Nigeria, persons liable to pay income tax include men, women, married or single, trustees and executors, families, villages and indigenous communities. Though government can also raise funds through natural resources such as oil, palm oil, coal and gas which are exported, those alternative sources of income to government are hardly enough to shoulder the burden of government expenditures, especially in the area of economic and social spheres in each year, hence the need for tax payment. We must emphasize here that income Tax Law must be interpreted in strict- to- sensor. There is no equity in tax law. The tax payer must be brought within the letter of the law and rigid adherence is the rule. Nothing should be read in and nothing should be implied. The onus of bringing a tax payer into the tax net is on the revenue or assessment authority. Another important point to note is that tax is not imposed on person or individual. Section 4 (1) of ITMA 1961 states that “the tax shall subject to the provisions of this act, being payable for each year of assessment upon income accruing in derived form, brought or received in Nigeria. Studies have shown that in Nigeria, workers pay more than the rich people who invest in various proper ties such as building, transporters, etc as a result of ineffective administration of taxes. Yet those investors are the category of people who would want government to move mountains in terms of raising their socio-economic well being, without meaningfully contributing towards the funds. Now that our various government are gearing efforts to revamping over bettered economy and improving the living condition of Nigerians, the need for the evolvement of more effective strategies to ensuring regular tax payment by taxable individuals need not be overemphasized. Taxable adults and organizations in various sectors of the economy must discharge their civic responsibilities. Unfortunately, this can only be achieved if tax systems are effectively administered so that people would in government revenue generation, willingly and without grudges pay their taxes. This will result to improvement in government revenue generation, hence the basis for this research study.

Purchase This Research

Blazingprojects Mobile App

📚 Over 50,000 Project Materials
📱 100% Offline: No internet needed
📝 Over 98 Departments
🔍 Software coding and Machine construction
🎓 Postgraduate/Undergraduate Research works
📥 Instant Whatsapp/Email Delivery

...

Blazingprojects

Departments