EVALUATION OF PERSONAL INCOME TAX ADMINISTRATION AND THE SOCIO-ECONOMIC DEVELOPMENT OF IKEJA LOCAL GOVERNMENT AREA OF LAGOS STATE.
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EVALUATION OF PERSONAL
INCOME TAX ADMINISTRATION AND THE SOCIO-ECONOMIC DEVELOPMENT OF IKEJA LOCAL
GOVERNMENT AREA OF LAGOS STATE.
ABSTRACT
This research work is an investigation into the'
administration of personal income tax and the socio-economic development of
Ikeja Local Government of Lagos State. To tax is to impose a financial charge
or other levy upon a taxpayer (an individual or legal entity) by a state or the
functional equivalent of a state such that failure to pay is punishable by law.
This study adopts both the historical and survey research methods in generating
relevant data. The population of the study is limited to selected tax payers in
Ikeja Local Government Area of Lagos State. The sample size of the study is 50,
while the sampling technique Used is random. The chi-square (X2) method was
adopted as a method of analyzing the data generated in the course of the study.
The study concludes that the way forward from is for the Lagos State government
to implement its tax policy effectively as to educate and encourage tax payers
in Ikeja metropolis in paying taxes regularly. Recommendations made in the
course of the study among others is that the Lagos State Government should
consider Ikeja taxpayers and other key stakeholders' interests in fiscal policy
formulation and implementation in order to achieve improved tax awareness and
compliance rate in the local government area.
TABLE OF CONTENT
CHAPTER ONE
Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Research questions.
1.5 Research hypotheses
1.6 Significance of the study
1.7 Scope and limitation of the study.
1.8 Plan of the study
1.9 Operational definition of terms
1.10 Historical background of Ikeja Local Government Area
References
CHAPTER TWO
Literature review
2.1 Introduction
2.2. Theoretical
framework
2.3 Purpose and
effects of tax
2.4 Personal income
tax act 1993 (no 104) operation of pay as you earn (payer) regulations 2003
2.5 The
administration of personal income tax in Nigeria
2.6 The problem of
tax collection
2.7 Conclusion
References
CHAPRTER THREE
Research methodology
3.0 Introduction
3.1 Research design
3.3 Sample size
3.4 Sampling technique
3.5 Sources of data
3.6 Method of data
analysis
3.7 Research
instrument
3.8 Reliability and
validity of research instrument
References
CHAPTER FOUR
Data presentation and analysis
4.1 Introduction
4.2 Data
presentation
4.3 Test of
hypothesis
CARPTER FIVE
Summary of findings, conclusion and recommendations
5.1 Summary of
finding
5.2 Conclusion
5.3 Recommendation
Bibliography
Questionnaire
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE
STUDY
Every Society in whatever form will comprise the ruling and
the authority and the ruled subjects. As social contract term the ruler is
expected to perform some roles; be it administrative, social, economic, political,
cultural or religious. In return, the ruled subjects that enjoy the benefits
from these roles performed are to give something for keeping the machinery
working. This could be in cash or in kind. 'In light of the above, every
constituted human society, whether primitive or modem, has one form of levy or
the other. This necessitates tax and taxation. A historical review of man and
societyreveals that tax exists as a major source of revenue for government.
Tax payment, according to Nightingale (1998), "is the
part of the price to be paid for living in an organized and orderly society,
for if this is not done, the miscreants produced through the inequality in the
system will be a source of constant irritation to the well-being of those who
have." A system of tax- will vary (even if slightly) from one 'country to
the other because it is a sociopolitical and economic' model representing
society's social, political and economic needs and aspiration at arty given
time. Because of this, Nigerian tax system is dynamic and is continually
changing to meet the needs of the constituents of the society.
An income tax is a tax levied on the income of individuals or
business(corporations or other legal entities). Various income tax systems
exist, with varying degrees of tax incidence. Income taxation can be
progressive, proportional, or regressive, when the tax is levied on the income
of companies, it is often called a corporate tax, income tax, or profit tax.
Individual income taxes often tax the total income of the individual (with some
deductions permitted), while corporate income taxes often tax net income (the
difference between gross receipts, expenses, and additional write-offs).
Various systems 'define income differently, and often allow notional reductions
of income (such as a reduction based on number of children supported).
According to Lekan and Sunday (2006) "Personal Income
Tax is a tax imposed with income as its base." This income is as received
by some chargeable people. Agbetunde (2004) states that "It is not
everybody that falls under the coverage of this tax but certain sets of people
called taxable persons." The discussion on the administration of income
tax is incomplete without due consideration of the socio-economic development
of Ikeja Local Government Area of Lagos State.
In light of the above, the revenue generated through taxation
in Ikeja Local Government of the state has been channeled to various areas such
as road construction and rehabilitation, transportation, traffic management,
environmental beautification, waste management, flood control, physical
planning and flood upgrading, education, job creation, health, economic
planning, commerce and industry, housing, etc. most feasible in Mobolaji Bank
Anthony Way, ObafemiAwolowo Road, Oba Akran Road, Airport –Road etc,
The economic impact of personal income tax administration in
Ikeja cannot be over-emphasized. It is seen in the system of transportation in
that, roads have enormous impact on the standard of living of the people in so
many ways. It is also noticeable in the environment to general, because of the
determination to have a sustainable environment and this has prompted an
aggressive promotion of a culture of 'Greening Ikeja Local Government. '
The success 9f this landscaping and beautification exercise
is self-evident in many outer and inner areas and major roads as stated
earlier.
In the course of this study, effort shall be made to discuss
extensively on the economic importance of personal income tax administration in
Lagos State, and Ikeja Local Government in particular.
1.2 STATEMENT OF THE
PROBLEM
The following are the problems that prompted the pursuit of
this study:
a. Low level
of awareness of the method of operating personal income tax system by tax
payers in Ikeja Local Government of Lagos State.
b. High level
of tax avoidance and tax evasion among traders in Ikeja Local Government.
c. Slow rate
of socio-economic development In Ikeja Local Government.
d. Inadequate
qualified and competent tax inspectors, tax collectors and tax consultants in
Lagos State.
e. Indiscriminate
imposition, assessment and collection of taxes by officials of tax authorities
in Lagos State.
1.3 OBJECTIVES OF THE
STUDY
Relevant to the study is the definition of the general
objectives of this study, which is the evaluation of personal income tax
administration and the socio- economic development of Ikeja Local Government'
Area in Lagos State. The objectives are as follows:
a. To discuss the
evolution and development of tax in Nigeria before, during and after colonial
era.
b. To evaluate the
reasons for the high level of tax avoidance and tax evasion among traders in
Ikeja Local Government.
c. To identify the
various sectors of the economy of IkejaLocal, Government that requires rapid
development. '
d. To discover certain
challenges facing effective personal income tax administration in Lagos State
such as unqualified and incompetent tax officials,indiscriminate imposition,
assessment and collection of taxes, etc.
e. To find out why
the rate of socio-economic development in Ikeja Local Government of Lagos State
is low.
1.4 RESEARCH
QUESTIONS
The research questions are as follows:
a. How does
tax reflects the socio-economic needs of people in the society?
b. How
effective is the implementation of personal income tax by Lagos State
Government?
c. What
is the compliance level by residents, firms and traders in Ikeja Local
Government Area in terms of payment of taxes?
d. To what
extent has personal income tax been applied in the provision of infrastructures
in Ikeja Local Government Area?
1.5 RESEARCH HYPOTHESES
The following hypotheses are formulated in this study:
Hypothesis I
Ho: Personal income
tax administration cannot facilitate socio-economic development of Ikeja Local
Government Area.
H1: Personal income
tax administration can facilitate socio-economic development of Ikeja Local
Government Area.
Hypothesis II
Ho: Low awareness
and compliance level of personal income tax system' by most people in Ikeja
Local Government Area is not a major reason for low tax revenue to the
government.
H2: Low awareness and
compliance level of personal income tax system by most people in Ikeja Local
Government Area is a major reason for low tax revenue to the government.
1.6 SIGNIFICANCE OF THE STUDY
This study intends to indicate its meanings and values to the
following groups:
a. Tax
authorities In Lagos State and Ikeja Local. Government in particular will
realize the need for improvement in the system of administrating of personal
income tax, the need to recruit qualified personnel and devise effective method
of imposing, assessing and collecting taxes from tax payers.
b. The
tax payers should be better enlightened about the essence of taxation in terms
of its economic, social and cultural implications in a civilized society.
1.7 SCOPE AND LIMITATION OF THE STUDY
The areas to be covered in the course of this study are: tax
and taxation, personal income tax administration, the evolution and development
of tax in Nigeria “characteristics of a good tax system, tax administration and
the socio-economic development of Ikeja, problems facing tax authorities in
ensuring an effective tax system in Lagos State, etc.
Major constraints or limitations of this study are stated as
follows:
a.
Inadequate information required for the study write-up.
b. Poor attitude of respondents to research
instruments.
c.
Insufficient funds for clerical and other related costs.
Nevertheless, this research work will achieve its major
objectives.
1.8 PLAN OF THE STUDY
This research work has been arranged chronologically into
five chapters as follows:
Chapter one provides a background the study, It "gets
out the major problems prompting the research work. It clearly states the
objectives of the study, the research questions for which answers must be
provided, the research hypotheses that will be tested later (in chapter four),
the relevance or significance of the study to both tax authorities and tax
payers, the scope and limitations of the study, the study plan (which gives a
total framework or arrangement of all the activities involved the study), the
definition of key terms, and an historical background of the case study (Ikeja
Local Government Area).
Chapter two concerns detailed discussion and explanation of
relevant areas of the subject matter in a theoretical and conceptual manner,
making references to related work carried out by some authors of textbooks,
journals, seminar papers, etc.
Chapter three is the description of the methods adopted in
conducting the study. It considers" the research design employed, the
study population, sample size and technique, the sources of data, the validity
and reliability of research instrument adopted, and the method of data
analysis.
Chapter four involves the presentation and application of
method of data analysis stated in chapter three. It also involves the testing
of the stated hypotheses (hypotheses I and II) and making decisions 'based on
the results of the analysis.
1.9 OPERATIONAL
DEFINITION OF TERMS
a. Personal Income
Tax: A tax charged on the income of a person,
b.
Society: A particular communityof people, who share the same customs,
laws, etc.
c. Tax: A
compulsory levy imposed by the government authority through its agents, on its
(tax payers) or his properties to achieve some goals.
d.
Taxation: The process of imposing, assessing and collecting taxes.
e. Tax Administration: The interpretation and
application of tax laws into practice.
f. Tax Avoidance: An attempt to escape tax payment by
capitalizing on the loopholes in tax laws.
g. Tax
Evasion: A criminal attempt to escape tax payment by breaking tax laws.
h, Taxable Person: A
person on whom certain tax can be imposed.
i. Tax
Laws: Legal instrument of fiscal policy that is derived from, adopted tax
policies.
j. Tax
System: The process of taxation involving sets of rules, regulations and
procedures with the organs of administration interacting with one another to
generate funds for government.
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