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AN EXAMINATION OF THE
PROBLEMS OF PERSONAL INCOME TAX MANAGEMENT IN ENUGU STATE
ABSTRACT
Since the
down of human civilization, every organized which has society used a forms of
taxation or another. Which is determined by the limitation imposed by the
physical and social environment in which the taxation system is implemented.
Facts tell us
that no form of taxation involved since human history is without it’s short
comings. A taxation Administration may
seen good and efficient within a particular society for a period of time but
may not be suitable as the structure of the society changes with time. Hence every
tax administration needs continual re-examination or revision in order to
accommodate the changes in the society. This is with a view to removing those
factors which are likely to cause problems in the taxation administration.
My strongest
conviction is that the Enugu environment must be put under investigation and
study so that a sound taxation administration could be evolved which would take
into recognizance. The limitations
imposed by the Enugu environment. This would ensure that a taxation
administration is developed which would at least reduce the problems associated
with it.
CHAPTER ONE
1.1 GENERAL
INTRODUCTION
It has been
known to every body in the state, the
period of economics boom of gigantic
proportion which was properly nick named as the oil-boom and therefore, a call
for the need of increase drive for revenue generation, which has become
inevitable now must state has generally intensity their various states in order
to supplement whatever they are able to grab from the federal government and their own
allocation known as share of national cake. This argumentation of federal
revenue allocation by the imposition of
taxes on the individuals companies and commodities, if efficiency managed are
carried out if will help the state government to remove the shareholder of
economic recessive bondage which is the main problem disturbing the
increased standard of living of individuals anywhere in the world.
Therefore it
is the main objective of the study to take critical examination and evaluation
of the taxation as a share of revenue for government of Enugu State, and after
the analysis the research is declared to find the prevailing problems and
therefore a well planned recommendation for the reformation of taxation system
is formulated. This term paper is focused it self to the need for increased
drive for revenue in the state and problems militating against such optional
revenue generation.
1.2 PURPOSE OF THE
STUDY
To check
adverse balance of payment, this could be gained by raising tax at all levels
higher than is necessary to cover government expenditure, thereby achieving
surplus. When operated as PAYE it yield goods amount of revenue to the
government because of low cost. To prevent home industry by imposing
discriminatory tariffs, provide
incentives for industry and investment e.g tax grant or allowance for research
work by the government and investments.
To adjust
trade imbalance e.g imposition of prohibitive import duties.
1.3 SIGNIFICANCE OF
THE STUDY
It is an all
pervading subject which effects the lives of nearly every body and no major
accounting problem can be satisfactorily problem can be satisfactorily solved
without a consideration of its tax aspects.
This is the
major sources of revenue for all government
in Nigeria which the officer suppose to come back to the payers in the
form of social amenities.
1.4 OBJECTIVES OF
THE STUDY
Objective of
study are as vic;
1. To
adjust trade imbalance e,g imposition of prohibitive impost duties.
2. To
provide free social services like health and education
3. To
encourage savings and regular expenditure e.g tax on luxuries
4. To
protect home industry by imposing discriminatory tariffs.
5. To
provide incentives for industry and investment e.g tax grant or
allowance for
research work by the government and investments
allowance for
prospective investors.
6. To
achieve desirable social end e.g discourage excessive smoking or
drinking.
7. To
reduce inequality of incomes, progressive income tax had been
imposed by
many governments.
8. To
check adverse balance of payment. This
could be achieved by raising
tax at all level higher, than is necessary to cover
government expenditure thereby achieving budget surpl.
9. The
spirit of civic responsibility amongst the tax payers is heightened by
the
impositions and payment of direct taxes. Mostly the PAYE. The tax
payer
exercises the pride of contributing to the
welfare of the
community.
10. When
operated as PAYE, it yields good amount of revenue to the
government
because of the very low cost.
1.5 SCOPE AND
LIMITATION OF STUDY
Limitation is
the ability for instance to pay income tax depends not only on the amount of
his income but also on his other personal circumstances. The present system of
income tax usually regarded as unified tax is progressive in that the rate at
which income tax in charged increased as an individuals income increases as a
first step it is necessary to compute the gross amount of his or her income from
all sources for the appropriate year of assessment measured in accordance with
the provision of the tax acts and to deduct certain amount including personal
allowances.
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