scholarly journals Impact of Tax Revenue on Economic Development in Nigeria

2020 ◽  
Vol 13 (6) ◽  
pp. 1
Author(s):  
Uket E. Ewa ◽  
Wasiu A. Adesola ◽  
Etim N. Essien
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Value Added ◽  
Least Square ◽  
Domestic Product ◽  
Value Added Tax ◽  
Gross Domestic Product Growth ◽  
Petroleum Companies ◽  
The Impact

There has been conflicting preposition as to the extent of tax contribution to the development of Nigerian economy. This study is to determine the impact of taxation proceeds on the development of Nigerian economy. The study explored the impact of three tax income streams – Income tax from companies’ profits, income tax from petroleum companies profits  and Value Added Tax on economic development represented by Gross Domestic Product (at current basic prices) growth for the period 1994 to 2018. The study applied Ordinary Least Square statistical tool with the help of SPSS 20.0. The study revealed a positive relationship with a coefficient of determination of 99.2% of the variation in economic development attributable to the tax income streams studied. Also although the study revealed the existence of significant effect of taxes from companies’ profits and Value Added Tax on Gross Domestic Product Growth, there is little or no significant impact of taxes on profits of Petroleum companies on Gross Domestic Product growth in Nigeria due to restriction by Organization of Petroleum Exporting Countries production ceiling on Nigeria’s production/sales and the global price shocks of crude oil over the decade. Also the study revealed tax payers apathy to tax payment and presence of tax leakages due to corruption and administrative inefficiencies by the tax authorities.

The Nomenclature of Taxation in Nigeria: Implications for Economic Development

2019 ◽  
Vol 4 (4) ◽  
pp. 28-33
Author(s):  
Amadi Kelvin Chijioke ◽  
Alolote Ibim Amadi
Keyword(s):  
Economic Development ◽  
Income Tax ◽  
Profit Maximization ◽  
Value Added ◽  
Least Square ◽  
Tax Revenue ◽  
Secondary Source ◽  
Value Added Tax ◽  
The Government ◽  
The Impact

The paper analyzed the impact of taxation on economic development in Nigeria as it concerns value-added tax (VAT), Company Income Tax (CIT) and Petroleum Profit Tax (PPT). For the purpose of this study, the major source of data was a secondary source. Data were collected from the Central Bank of Nigeria Statistical Bulletin and Federal Inland Revenue Services. The data collected were analyzed with Ordinary Least Square Multiple Linear Regressions since there were more than two variables. The analysis revealed that all the independent variables (VAT, CIT and PPT) used in this study have a significant positive relationship on the dependent variable (GDP), which is used to measure economic development while value-added tax, company income tax, and petroleum profit tax were used to measure taxation. It was therefore recommended that the government should extend its database to capture all tax revenue by employing practically and technically oriented professionals. Results also imply it is recommended for the government to foster a favorable environment for young entrepreneurs to initiate and grow businesses that will lead to an increase in tax revenue for the government. It was also recommended that social science, which is the umbrella that covers management sciences, should be employed to manage businesses so as to ensure the survival of businesses and boast the nation’s revenue through tax, as it concerns training having an impact on resources utilization and allocation, thus promoting profit maximization.

scholarly journals Tax Revenue and Economic Development in Nigeria

2019 ◽  
Vol 6 (9) ◽  
pp. 312-321
Author(s):  
Clement Olatunji Olaoye ◽  
Ayobolawole Adewale Ogundipe ◽  
Oladimeji Emmanuel Oluwadare
Keyword(s):  
Economic Development ◽  
Income Tax ◽  
Unit Root Test ◽  
Value Added ◽  
P Value ◽  
Value Added Tax ◽  
Distributed Lag ◽  
Long Run ◽  
The Government ◽  
The Impact

This study investigated the impact of taxation on economic development of Nigeria from 2003 to 2017.Vector Error Correction Model (VECM), Augmented Dickey-Fuller (ADF) unit root test, Autoregressive Distributed Lag (ARDL) bounds test, Jarque-Bera Normality Test and Eigenvalue stability condition were utilised in this study. The study revealed that companies’ income tax, petroleum profit and value added tax have a long run impact of -0.225(p-value=0.000),-0.0005 (p-value=0.699), and 0.211(p-value=0.000) respectively on the economic development of Nigeria.It was concluded that taxation has a significant long run relationship with Nigeria’s economic development. The study recommended that the government should not increase companies’ income tax rate because it is detrimental to the economic development of the country in the long run, instead the government should increase the value added tax because it has the potentiality to improve economic development of Nigeria. Also, the government should not concentrate effort on petroleum profit tax as it not significant on economic development of the country.

scholarly journals Análisis comparativo de los sistemas fiscales de México-Colombia: Impuesto Sobre la Renta

2020 ◽  
Vol 4 (2) ◽  
pp. 84-95
Author(s):  
Laura Aguilar Maya ◽  
Martha Gabriela García Guerrero ◽  
Antonio Cantillo Beltrán ◽  
Elkin Elias Negrete Naizir
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Public Expenditure ◽  
Domestic Product ◽  
Tax Collection ◽  
Tax Systems ◽  
The Impact

Los sistemas fiscales tiene como propósito lograr un balance entre el ingreso y el gasto público, para alcanzar la máxima equidad, un destino eficiente de los recursos de la economía, promover la estabilidad y el desarrollo económico de los países. Este estudio tiene como objetivo comparar los sistemas fiscales de México y Colombia para identificar sus diferencias y similitudes en cuanto al Impuesto sobre la Renta (ISR) y determinar el impacto en el desarrollo económico en ambos países. Esta investigación es cualitativa de tipo transversal-descriptiva. Se concluyó que en ambos países se incrementó la recaudación fiscal con respecto al Producto Interno Bruto (PIB); sin embargo, sus economías no han logrado un crecimiento armónico. Abstract The purpose of the fiscal systems is to achieve a balance between income and public expenditure, to achieve maximum equity, an efficient destination of the resources of the economy, to promote stability and economic development of the countries. This study aims to compare the tax systems of both México and Colombia in order to identify their differences and similarities regarding Income Tax (ISR) and determine the impact on economic development in both countries. This research is qualitative cross-descriptive type. It was concluded that in both countries the tax collection was increased with respect to the Gross Domestic Product (GDP); However, their economies have not achieved harmonious growth.

scholarly journals Análisis Comparativo de los Sistemas Fiscales de México-Colombia

2020 ◽  
Vol 4 (2) ◽  
pp. 80-91
Author(s):  
Martha Gabriela García Guerrero ◽  
Laura Aguilar Maya ◽  
Antonio Cantillo Beltrán ◽  
Elkin Elias Negrete Naizir
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Public Expenditure ◽  
Domestic Product ◽  
Tax Collection ◽  
Tax Systems ◽  
The Impact

Resumen Los sistemas fiscales tiene como propósito lograr un balance entre el ingreso y el gasto público, para alcanzar la máxima equidad, un destino eficiente de los recursos de la economía, promover la estabilidad y el desarrollo económico de los países. Este estudio tiene como objetivo comparar los sistemas fiscales de México y Colombia para identificar sus diferencias y similitudes en cuanto al Impuesto sobre la Renta (ISR) y determinar el impacto en el desarrollo económico en ambos países. Esta investigación es cualitativa de tipo transversal-descriptiva. Se concluyó que en ambos países se incrementó la recaudación fiscal con respecto al Producto Interno Bruto (PIB); sin embargo, sus economías no han logrado un crecimiento armónico.   Summary The purpose of the fiscal systems is to achieve a balance between income and public expenditure, to achieve maximum equity, an efficient destination of the resources of the economy, to promote stability and economic development of the countries. This study aims to compare the tax systems of both México and Colombia in order to identify their differences and similarities regarding Income Tax (ISR) and determine the impact on economic development in both countries. This research is qualitative cross-descriptive type. It was concluded that in both countries the tax collection was increased with respect to the Gross Domestic Product (GDP); However, their economies have not achieved harmonious growth.

Taxation and Nigerian Economy: an Empirical Analysis

2021 ◽  
Vol 7 (4) ◽  
pp. 29-35
Author(s):  
Amah Cletus Okey
Keyword(s):  
Gross Domestic Product ◽  
Time Series Data ◽  
Value Added ◽  
Least Square Method ◽  
Least Square ◽  
Domestic Product ◽  
Series Data ◽  
Regression Result ◽  
Value Added Tax ◽  
Independent Variables

The study was carried out to investigate the effect of Nigerian taxation system on Nigerian economy. The study anchored on benefit received theory of taxation as it theoretical framework. The study covered a period of 18 years (1999-2017). Time series data extracted from Central Bank of Nigeria Statistical Bulletin and Federal Inland Revenue Service for the various years was used for the study. Ordinary Least Square method of regression was adopted for data analysis. The independent variables are Value Added Tax (VAT), Petroleum Profit Tax (PPT), and Company Income Tax (CIT) while Gross Domestic Product (GDP) is the dependent variable. The regression result revealed that there is a significant positive relationship between the independent variables (PPT, CIT) and Gross Domestic Product. However the relationship between Value Added Tax and Gross Domestic Product is negative. It is recommended that government should provide enabling environment for companies to generate more revenues. Government should also reduce the VAT rate to encourage consumption of certain goods.

scholarly journals DETERMINANTS OF ECONOMIC DEVELOPMENT AND EMPLOYABILITY OF HIGHER EDUCATION INSTITUTIONS GRADUATES

2020 ◽  
Vol 31 (2) ◽  
pp. 211-220
Author(s):  
Emília Krajňáková ◽  
Vaida Pilinkienė ◽  
Patrik Bulko
Keyword(s):  
Higher Education ◽  
Economic Development ◽  
Czech Republic ◽  
Gross Domestic Product ◽  
Slovak Republic ◽  
Domestic Product ◽  
Experimental Development ◽  
Correlation Relationship ◽  
The Czech Republic ◽  
The Impact

The scope of the data presented in this study offers a comprehensive view of the issue of the HEI graduates employability in the Czech Republic and also in the Slovak Republic – related to determinants of economic development and their impact on them. This paper examines the impact of gross domestic product, gross domestic expenditure on research and experimental development by only higher education sector and foreign direct investment on HEI graduates employability. The results indicate that correlation between unemployment of tertiary educated Slovaks and GDP, GERD and FDI values was very big. Correlation relationship of similar determinants, except determinant GERD in conditions of the Czech Republic was characterized as weak. On the other hand, significantly stronger (very big to perfect) correlation affecting employment of tertiary educated Czechs regarding to indicators of gross domestic product, gross domestic expenditure on research and experimental development by sector of higher education and foreign direct investments as well. In conditions of the Slovak Republic, correlation relationship between employment of tertiary educated Slovaks and GDP was almost perfect.

scholarly journals Effect of Corporate Tax on Government Expenditure in Nigeria

2021 ◽  
Vol 1 (5) ◽  
pp. 157-171
Author(s):  
Patrick Ologbenla
Keyword(s):  
Income Tax ◽  
Consumer Price Index ◽  
Government Expenditure ◽  
Value Added ◽  
Corporate Income Tax ◽  
Value Added Tax ◽  
Independent Variable ◽  
The Government ◽  
The Impact ◽  
Bound Test

The study investigated the impact of corporate income tax on the government expenditure in Nigeria. Data on corporate income tax, value added tax, interest rate, gross domestic product, petroleum profit tax and consumer price index were collected and used as independent variable in the study while data on public expenditure were collected and used as independent variable in the estimated model. The ARDL bound test was applied and the result showed that corporate income tax have long run relationship that is significant with government expenditure. Other forms of tax such as value added tax and petroleum profit tax also have significant impact on government expenditure. The study concluded that corporate income tax should be sustained in order to ensure that government continue to fulfill her obligation of provision of social amenities that will promote the economic growth of the country.

scholarly journals Estimating the Impact of Taxes on the Economic Growth in the United States

2017 ◽  
Vol 55 (4) ◽  
pp. 481-499 ◽  
Author(s):  
Branimir Kalaš ◽  
Vera Mirović ◽  
Jelena Andrašić
Keyword(s):  
Economic Growth ◽  
Social Security ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Personal Income ◽  
Domestic Product ◽  
Tax Revenue ◽  
Personal Income Tax ◽  
Gross Domestic Product Growth ◽  
Social Security Contributions

AbstractIn a research paper, the authors provide an empirical approach to taxes and economic growth in the United States in the period 1996-2016. The basic goal is to explore how taxes affect economic growth. The subject of the research is measuring the effects of tax revenue growth and tax form as a personal income tax, corporate income tax and social security contributions on gross domestic product as a proxy for economic growth. Methodology framework includes several tests to clear the potential problem of heteroscedasticity, autocorrelation, multicollinearity and specification of the model. Based on diagnostic tests, a regression model is adequately created where fundamental econometric procedures are applied. Correlation matrix reflects a strong and positive relationship between tax revenue growth and corporate income tax on the one side and gross domestic product growth, on the another side. Also, personal income tax and social security contributions are weakly related to gross domestic product growth. The model shows a significant effect of tax revenue growth and social security contributions, while personal income tax and corporate income tax do not have a significant impact on gross domestic product growth. Interestingly, personal income tax as the main tax form in the tax structure of the United States has no significant impact on economic growth compared to social security contributions which percentage share is lesser.

scholarly journals PENGARUH PERTUMBUHAN EKONOMI TERHADAP PENERIMAAN PAJAK PENGHASILAN DAN PAJAK PERTAMBAHAN NILAI

2007 ◽  
Vol 7 (1) ◽  
pp. 83
Author(s):  
Herman ,
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Government Expenditure ◽  
Value Added ◽  
Value Added Tax ◽  
Tax Collection ◽  
Economy Growth ◽  
Test Result ◽  
Is Value

<p class="Style1">The purpose of this research is to find out the effect of economy growth toward tax collection, especially income tax andiralue added tax. The data covered from 1985 until 2005. Some variables included in this researdi such as: consumption, investment, government expenditure and import, and dependent variable is value added tax and income tax collection. The analyzing tools which used are nonnallytest, analyzing of variance, and goodness of fitand t-test. Result of analysis finds that the economy growth has significant effect to the income tax collection and value added tax collection.</p><p class="Style1">Keywords: Economic Growth, Gross Domestic Product, Income Tax, and Value Added Tax</p>

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