Department of Public & International Law - Scholarly Publications

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Browsing Department of Public & International Law - Scholarly Publications by Subject "Development"

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    An Appraisal of the Legal Framework of Nigerian National Tax Policy as a Tool for Revenue Growth and Economic Development
    (Portharcourt Law Journal, 2020) Kontagora, A.M
    The Nigerian tax system is centered on three major pivots which are tax legislation, tax policy and tax administration. A tax policy is a general framework that provides guidelines for the operations of the tax system. Instead of a properly documented tax, the fiscal objectives of successive administration have, at various times, dictated the operations of the Nigerian tax system. Largely, the objectives have included the institution of a low tax regime aimed at reducing the tax burdens of individuals in order to encourage savings and investment; the encouragement and inculcation of voluntary compliance among the citizenry, as opposed to coercive methods of ensuring compliance; the stimulation of tax incentives to encourage the development of certain sectors of the economy such as manufacturing, solid minerals, agriculture, oil and gas; a deliberate move from income tax to consumption tax; the introduction of a self-assessment regime to encourage taxpayer participation; and the use of statutory mechanisms and to curb tax evasion and avoidance. There is always the problem of making a good legislation, sound tax policy and a viable tax administrative mechanism under the Nigerian tax regime. It is only when the general tax system is overhauled in terms of effective tax laws, efficient tax policies and administrative system that the tax regime will improve Nigerian revenue growth and development.