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An Examination Of Problems And Prospects Of Real Property Taxation In Nigeria
CHAPTER ONE -- [Total Page(s) 3]
Page 2 of 3
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In
1992, the government introduced self assessment scheme, under which a
taxpayer is expected to fill a tax assessment form to determine his
taxable income. Here, the intrinsic motivation to pay tax (that is, tax
payment) will determine the level of compliance with reporting
requirements. Which means that the taxpayer files all required tax
returns at the proper time and that the returns accurately report tax
liability in accordance with the law. The advent of democratic rule in
1999 has put greater pressure on the three-tier of governments to
generate enough revenue and meet electoral promises in terms of
provision of basic necessities and infrastructure for the economic
empowerment of the people. To achieve these goals taxpayers must pay
their taxes willingly as and when due. In other words, a high tax
payment is required from the taxpayer in order to achieve a high degree
of tax compliance.
Webley et al. (1991), detect a positive
relationship between government performance and tax compliance But in
spite of all the researches that have been done, more empirical work is
needed to confirm the existence of these relationships and to measure
the strength of their influence on tax compliance. This is particularly
so, since tax compliance is of obvious importance fo r most countries.
This work aims to study tax compliance in Nigeria, thereby supplementing
empirical research on this important international problem. This is
therefore an opportunity to take a stroll through theoretical and
empirical findings in the tax payment literature, focusing on Personal
Income tax payment.
BACKGROUND OF THE STUDY
Funding of
infrastructure, especially in urban areas in time of dwindling revenue
allocations from the Federal Government, has posed great challenge to
State and Local Council Governments. This has led the Lagos State
Government to source for a new means of generating additional revenue
internally through property tax. The Land Use Charge Law 2001 was
therefore a creation of the River State Government to give legal backing
to revenue generation through property taxation in order to provide
sustainable housing delivery.
A number of questions arise: What will
be the short- and long-run effects of the provisions of the Land Use
Charge Law on River State Real Estate property magmagers? Is the basis
for calculating the charge reasonable? What is the position of Estate
Surveyors and Valuers regarding the provisions of the Law? What is
sustainability and sustainable housing delivery? What impact(s) will the
Law have on sustainable real property delivery in the study area? The
aim of this research is to examine the Land Use Charge Law (2001) and
determine its effects on sustainable real property delivery in Nigeria.
In doing so, succeeding sections cover the challenge, basic method of
determining fair and equitable property tax, highlight the provisions of
the Law, and analyze the opinions of practicing Estate Surveyors and
Valuers followed by appropriate recommendations.
CHAPTER ONE -- [Total Page(s) 3]
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ABSRACT - [ Total Page(s): 1 ]Increasing demand for urban infrastructures on land and dwindling revenue allocations in Nigeria have informed the Rivers State Government to promulgate Land Use Charge Law (2001) as a way of increasing internally-generated revenues through property tax. The Law stipulates a formula for assessing the Charge payable on properties in Lagos State, amongst other provisions. The aim of this research is to identify the problems and prospects of real property taxation in Nigeria ... Continue reading---
