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1.1 Background of the Study
Some of the major functions of any government especially developing countries such as Nigeria are the provision of infrastructural service such as electricity, pipe-borne water, hospitals, schools, good roads and as well as ensuring rise in per capital, income, poverty alleviation etc. for these services to be adequately provided, government should have enough revenue to finance them the task of financing these enormous responsibilities is one of the major problems facing the government. Base on the limited resources of the government, there is need to carry the citizens governed) along hence, the imposition of tax on all taxable individuals and companies to augment government financial position becomes imperative. To this end, government have always enacted various tax laws and reformed existing ones to stand the taste of time. They include: Income Tax Management Act (ITMA), Companies Income Tax Degree (CITD), Joint Tax Board (JTB) etc. All these are aimed at ensuring adherence to tax payment and discouraging tax evasion and avoidance. For the purpose of this study, the researcher would be concerned with the impact of taxation on Delta State Revenue, a case study of Isoko North Local Government Area.
1.2 Statement of the Problem
The first need of any modern governance is to generate enough revenue which is needed “the breath of its nostril” thus, tax as by far the most significant sources of revenue for the government.
Nigerians regard payment of tax as a means where by government raise revenue for herself at the expense of their sweat.
It is good to note that no tax succeeds without the tax-payer’s co-operation. Here, we can have some thought-provoking questions such as, what makes tax such a difficult issue?. Why do people feel cheated when it comes to tax?. Is government making judicious use of tax payer’s money?
In view of these questions above, this study is going to be carried out to offer solution to those questions above. We shall also look at the following issues and offer recommendations.
The problems affecting the successful operation of tax system in Nigeria is how to determine the assessable income process of tax administration in Nigeria.
1.3 Objectives of the Study
The general objective of the study is to assess the contribution or impact of tax in the Delta State revenue.
However, the specific objective of the study includes:
i. To examine the relevance of tax in Delta State.
ii. To determine the extent government has been using revenue generated from tax.
iii. To examine how tax rate, affects the rate of investment in the economy.
Generally, the work is done to find out the impact of tax on government revenue whether tax constitutes the luck of government revenue and to erase the enormous exploration by government for their selfish interest.
1.4 Research Questions
To find answers to the problems of the study, the following research questions have been formulated.
i. To what extent will tax collection in Delta State influence its revenue?
ii. To what extent does the revenue generated from tax affect the economic development in Delta State?
iii. To what extent will tax payment influence provision of social activities?
1.5 Significance of the Study
One of the most frequently discussed issues in Nigeria is how to solve the economic hardship in the country and how to create industrial bases that can be a guarantee for self-sustaining economic development. Also, one would wonder why a country which is richly endowed with the necessary human and material resources and which people pay tax has been turned a heavily indebted country.
The study will afford us the opportunity to know the roles taxation plays in Delta State. Such roles include:
i. Taxation is a major source of revenue to the government.
ii. Revenue generated from taxation enables government performs its function effectively.
iii. Taxation acts as an instrument for focal policy
iv. The study will in addition reveal if there are other better sources of government revenue or finding.
1.6 Scope of the Study
The scope of this study covers critical examination on the impact of taxation on Delta State revenue, a case study of Isoko North Local Government Area. It will also analyse related issues such as structure and administrative machinery of taxation in Delta State and their associated problems.
The essence of this digression is to possibly find out the obstacle if any, that hinder the effective collection and administration of tax in the state.
1.7 Limitation of the Study
In view of the fact that there is limited time and some other constrains such as finance and material, the study is specially carried out in Isoko North Local Government.
Due to limited time factor and finance available for use in order for easy data collection, thus research will be restricted in available time and finance.
1.8 Definition of Terms
i. Taxation: This is the process or system of raising income through the levying of various types of taxes.
ii. Tax: A tax is a compulsory levy imposed by a public authority on the income, profit, or wealth of an individual, family, community, co-operate or Inco-operated body.
iii. Fiscal Policy: This is the aspect of government policy that deals with the raising of revenue through taxes and other means and also with decision relating to level and pattern of government expenditure.
iv. Assessment: An assessment is the process ascertaining the taxable income of a tax payer.
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