INCOME TAX ADMINISTRATION IN NIGERIA
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TITLE PAGE
INCOME TAX ADMINISTRATION IN NIGERIA
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "income tax administration in nigeria" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
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Taxation is the legal demand made by the federal government or the state government on its citizens to pay money income, goods and services.
In less complex society in which government has duties and responsibilities, financial need of the government income greater consequently taxes – increase and their effect on the economy become more important.
Thus among the traditional function of the government is the provision of the public goods i.e goods cannot be divided among the separate members of the society and which must be used or welfare of all people in the society. Among the goods services are maintenance of law and orders, defense against external aggression and control of business and trade to ensure social and economic justice.
TABLE OF CONTENTS
Title Page - - i
Approval Page - - ii
Dedication - - iii
Acknowledgement - - iv-vi
Proposal - - vii-ix
Table of contents - - x-xii
CHAPTER ONE
INTRODUCTION
- Introduction - - 1-3
- Statement of the problem - 3-4
- Aims and objectives of the study - 4-5
- Significance of the study - - 5-6
- Scope and Limitation of the study - 6-8
- Definition of terms - - 8-10
CHAPTER TWO
LITERATURE REVIEW
- Introduction - - 11-12
- Ascertainment of Assessable income of profit 12-16
- Total income - - 16-17
- Administration of income, Tax personnel income, Tax Administration - 17-20
- Capital Transfer Tax Administration - 20-22
- Capital Gain Tax Administration - 22-23
- Companies Income tax Administration 23-24
- Petroleum Profit tax Administration - 24-27
CHAPTER THREE
RESEARCH METHDOLOGY
- Introduction - - 28
- Research Method - - 29
- Historical Background of the case study 29-33
- Sample and sampling method 33-34
- Method of data collection - - 34-35
- Method of Data Analysis - - 35-36
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
- Introduction - - - 37-39
- Data Presentation and data analysis - 39-41
- Data Analysis - - 41-44
- Research findings - - 44-47
CHAPTER FIVE
- Summary, Conclusion and Recommendation 48
5.1 Introduction - - - 48
5.2 Summary of Findings - - 48-49
5.3 Conclusion - - 49-50
5.4 Recommendation - - 50-52
5.5 Contribution of the study to the field of knowledge 52
Reference. - - - 54
CHAPTER ONE
1.1 INTRODUCTION
It is generally believed that taxation if the main sources of government revenue. The money realized from the tax is for the benefit of all and people must attain certain age before they can start the payment of tax.
We can view tax as a compulsory payment or levy imposed on individual and firm by the government. It’s also made by the government on the citizen, non diplomatic residents and property owners within the country irrespective of the exact amount of services rendered to the tax payer in return. This chapter discusses tax revenue in Nigeria as well as the purpose of tax revenue.
There are also property tax, i.e the tenement rather than on legal documents.
The world “Income” does not have a specific meaning of definition. Economist define income as the sum total of earning of a government consumption – unit that can be separate during particular period and still have same net asset value in money terms at the end of the period as at the beginning of the period.
Income from the factors of production i.e land, labour and capital can be categorized as follow for income tax purpose.
The land receiver rent, labour receives wages and salaries while capital receive interest and entrepreneur receive dividends.
The administration of income tax which is the topic of the project is on how the government administer the various types of taxes applicable to Kwara State are company income tax, capital gain tax, petroleum profit and purchase tax.
There are various types of taxes. These are import and excise duties tax (this levied on goods important and export respectively).
Exercise duties levied on goods produced within the country. Consumption tax (this is levied on consumers of goods and services).
1.2 STATEMENT OF THE PROBLEM
The main problem to be addressed during the research work includes.
What is the utilization of the income tax?
What is the aims of government in generating income and tax administration in a country?
How does administration of income tax services as (means) for the government?
How is government able to generate income in Nigeria?
In what ways does income and tax helps the country e.g Nigeria.
AIMS AND OBJECTIVES OF THE STUDY
The aims and objectives behind the study of income tax administration in Ilorin with particular reference to Kwara State board of Internal revenue.
Firstly, form the following the role played by the tax collectors and tax payers in an economy and also to know the role played by the inspector of taxes in the collection of various taxes.
Secondly to find out whether the adequate number of complete absence of qualified accountant in the staff of the tax authorities. Inadequate book keeping by the tax payer, legal tax allowance, illegal tax erosion. Illiteracy poor income tax authorities are responsible for the revenue realization from income tax.
Thirdly to let people know the important of income tax administration and its contribution to the economy of Kwara State.
Lastly, to assist low tax payers and tax authorities have contributed to economy growth.
1.4 SIGNIFICANCE OF THE STUDY
It is hope that the study with provide variable information on the function and operation for the benefit of the state. The study is therefore significance to the studies in the subject of income tax administration in Nigeria because if further helps in shading light and some relevant concepts. Methods of income tax would provide means of making amendment where necessary for efficiency and effectiveness in the country. Tax helps the government to generate revenue for the utilization of the state or country.
1.5 SCOPE AND LIMITATION OF THE STUDY
This project is designed to research on income tax administration, in Kwara State with particular reference to board of Internal revenue and to find out how much revenue collected is been of utilized.
Whether government of Kwara State is able to meet is target allowant and to survey and analysis as much as possible the system of revenue collection and enforcement procedure order the income tax management Act (ITMA) 1961 and the relevant Kwara State Law. And attempt has being made analysis the conservation both internal and external, it is intended also after which analysers to attempt to evaluate the effectiveness of the collection and enforcement procedure in Kwara State.
The Scope of the Study has also included how the Kwara State Government administrative various types of income tax based on individual, company and partnership, the view reactions of various payer and problem associated with the tax collections.
However, this project should be considered from one prospective only, being academic and making founding based on the responses of the respondents.
The limitation to this study is that, in undertaking a research work in any field human endeavour one is usually failed with some constraint which this research work is not on exception, some of the obstacles are secret that is some information were branded “TOP SECRET” which means it is not mean for outsider consumption. Another problem encountered in the process of the research is the insufficient time giving for the writing and submission.
Financial the research is another due to the fact that there was no enough financial research work cannot be intensified. However the objectivity of the analsis in the research work helps to compensate for the constraints enumerate above.
1.6 DEFINTION OF TERMS
Income:- can be defined as money received during a certain period for work of enforcements, the income or output of a country always refers to the value of output during a specific or definite [period says one year calendar.
TAX: Can be defined as a compulsory payment imposed on people living in an area environment or a country by the government in order to provide necessary things e.g goods road, hospitality, good electricity standard education etc.
ADMINISTRATION: This can be defined as the organizational running of a business or system. The action of giving out or applying order of the government in power.
LAND: Law as factor of production is a free gift if nature and is fixed. It is the oldest factor of production in the sense that, it had been on earth before man started working on it. Land does not include only the hard surface of the earth, but all other free gifts of nature like water, forest and minerals unlike other factors of productions, the supply of land is limited and its reward is rent.
CAPITAL: May be view as wealth reserved or set aside for the production of more wealth, as man made other factors of production includes physical cash, machinery, semi-finished goods and order equipment. Just like other factors of production, capital plays a crucial role in production of goods and services and its reward is interest.
LABOUR: May be defined as both physical and mental efforts of man directed toward production.
It is one of the variable factors of production. Labour as a factor of production involves human being who work on other factors of production like land and capital in order to produce goods. The reward for labour are salaries and wages.
1.7 PLAN OF THE STUDY
This project work is basically divided into five (5) chapters:
CHAPTER ONE: Takes on the introduction of the subject matter. If consists of the super significance and definition of terms of the study.
CHAPTER TWO: This is the literature review this entails the works that had been done on this particular topic which was done by other researchers.
CHAPTER THREE: Will talk about the Methodist that the researcher adopted in getting necessary materials or information that will facilitate the success of the research work.
CHAPTER FOUR: Explain how the researcher was able to analysis and present the data he got for his work while the chapter:
CHAPTER FIVE: Brings everything to conclusion the researcher does his summary and give necessary recommendation where needed.
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "income tax administration in nigeria" is also available. Order full work to download. Chapter two of "income tax administration in nigeria" consists of the literature review. In this chapter all the related work on "income tax administration in nigeria" was reviewed.
CHAPTER THREE: The complete chapter three of "income tax administration in nigeria" is available. Order full work to download. Chapter three of "income tax administration in nigeria" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "income tax administration in nigeria" is available. Order full work to download. Chapter four of "income tax administration in nigeria" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a "income tax administration in nigeria" is available. Order full work to download. Chapter five of "income tax administration in nigeria" consist of conclusion, recommendation and references.
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