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Income Tax Administration In Nigeria
[CASE STUDY OF KWARA STATE BOARD OF INTERNAL REVENUE]
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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 research 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.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACT 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 divi ... Continue reading---
