Diversification of the economy, tax revenue and sustainable growth in Nigeria

Adegbie, Folajimi Festus; Ajayi, Ademola; Aguguom, Theophilus Anaekenwa; Otitolaiye, Emmanuel Dare

doi:10.53894/ijirss.v6i1.1114

Cited by 4 publications

(7 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The importance of accounting results to investors in the valuation of a company's equity is known as value relevance . A firm's taxable income serves as a proxy for the effectiveness of its tax planning, and like other accounting measures that have a significant association with equity market value (Adegbie, Ajayi, Aguguom, & Otitolaiye, 2023;Wan, Kamarudin, & Ibrahim, 2005;Yoon, Jiang, & Cui, 2023;Zhao, Tang, Zhang, & Feng, 2023), it is also relevant to value if it has a statistical association with a firm's market values or returns Kelly (2005). The value and relevance of financial accounting earnings in the United States (U.S.) have been extensively studied in the literature.…”

Section: Book-tax Differencementioning

confidence: 99%

Examining determinants of book-tax difference: Insights from Malaysian multinational corporations

Nordin,

Hamid,

Rasit

et al. 2024

JoE

View full text Add to dashboard Cite

This research investigates the factors affecting the book-tax differences of multinational corporations (MNCs) operating in Malaysia. The sample for this study consists of MNCs with subsidiaries in tax haven countries listed on the Financial Times Stock Exchange (FTSE) Bursa Malaysia Kuala Lumpur Composite Index (KLCI) and FTSE Bursa Malaysia Mid 70 Index. About 67 MNCs were selected after eliminating 32 companies with inadequate data and one with extreme outliers. A secondary data approach was employed, utilising multiple regression analysis. Selected corporate characteristics, including deferred tax liabilities and assets, taxable income, interest coverage ratio, return on assets, and effective tax rate, were used as independent variables. Descriptive analysis revealed evidence that corporations with a high return on assets (ROA) typically benefit from very high levels of book-tax differences (BTDs). Furthermore, the results indicate that a high interest coverage ratio may partly explain the outcomes leading to an increase in differences recorded between book income and taxable income. Thus, this supports the idea that a positive relationship exists between the interest coverage ratio and BTD. Hence, this study contributes to the tax literature and informs policymakers on factors influencing BTD, especially MNCs with subsidiaries in tax haven countries. The study aims to contribute to the existing body of knowledge by offering insights into the factors influencing MNCs' strategic tax planning decisions in the Malaysian context. Policymakers should address the unfair allocation of the worldwide tax base, where a reasonable portion of the earnings made by MNCs doing business in a nation should be subject to taxation in that nation.

show abstract

Section: Book-tax Differencementioning

confidence: 99%

Examining determinants of book-tax difference: Insights from Malaysian multinational corporations

Nordin,

Hamid,

Rasit

et al. 2024

JoE

View full text Add to dashboard Cite

show abstract

“…Tax evasion and avoidance, according to Adegbie and Fakile (2011), have played a significant role in reducing revenue accruable to the Nigerian government. Tax administration will be better positioned if tax regulations and processes are simple; tax compliance costs are minimal; taxpayers have easy access to information; and taxpayers and tax authorities have mutual trust.…”

Section: Electronic Tax Paymentmentioning

confidence: 99%

“…Australia, the United Kingdom, France, India, China, Singapore, Turkey, Malaysia, Uganda, Rwanda, and Nigeria are just a few of the developed and emerging economies that have adopted the e-tax system (Ramayah, Ramoo & Amlus, 2008;Muita, 2011). Tax evasion, non-compliance, and tax authorities' coordination with taxpayers to circumvent taxpayers are among the most serious issues confronting Nigerian tax administration (Adegbie & Fakile, 2011;Odia, 2014).…”

Section: Introductionmentioning

confidence: 99%

Electronic Taxation and Revenue Generation in Ekiti State

C.O.,

F.O.,

A.B.

2023

African Journal of Accounting and Financial Research

View full text Add to dashboard Cite

This study examined the effect of the electronic tax system on internally generated revenue in the Ekiti State Internal Revenue Service. Electronic tax registration, electronic filing of tax returns, and electronic tax payment were employed as proxies for an electronic tax system to attain this goal. There is a large degree of corruption practices prevalent in rising economies such as the Nigerian tax administration system, which indicates that the economy is in a disadvantaged position, as a result of these failures and obstacles in the Nigerian tax system. The final database employed in the quantitative analysis of the study was a quantitative cross-sectional survey data based on 94 valid replies retrieved from 123 competent and experienced respondents from the Ekiti State internal revenue agency. Electronic tax registration and electronic filing of tax returns affect internally generated revenue in Ekiti, according to the findings. Electronic tax payments have no statistically significant effect on the state's internally generated revenue. As a result, the study indicates that the major goal of the electronic tax system in Ekiti State Internal Revenue Service will not be met unless the consequences of electronic tax filing and electronic tax payment are fully addressed. The implication is that, while Ekiti State Internal Revenue Service has implemented electronic tax registration, the internal revenue cannot be guaranteed unless electronic filing of tax returns and electronic tax payment are fully implemented.

show abstract

“…Ogun State comes in second with an amazing IGR of N70.92 billion and a low FAA receipt of N92 billion (representing 77%). Rivers have an amazing IGR of N140 billion and a low FAA receipt of N219 billion representing 64% (Adegbie et al, 2023).…”

mentioning

confidence: 99%

“…Unfortunately, despite the huge internally generated revenue over the years by successive governments at all levels, there is no significant evidence of optimal utilization of these revenues. For Adegbie et al (2023) reported that there is evidence of high infrastructural deficits over the years, all-time high double-digit inflation, high unemployment rate, low income per capita and unprecedented high infant mortality and poor living standards in Nigeria. There had been unparalleled looting of the national treasury and fraud cases.…”

mentioning

confidence: 99%

Internally sourced revenue optimality and national economy development of Nigeria

Aguguom,

Nwaobia,

Obasi

et al. 2023

IJAEFA

View full text Add to dashboard Cite

This study investigated the impact of internally sourced revenue optimality on Nigeria’s national economic development. Internally generated income had traditionally been the mainstay revenue source for the economic development of countries, but it has long been a subject of worry for Nigeria's national economic development, considering how effectively internally generated income is being used for the progress of the country. We adopted an ex-post facto research design, using annual time series data covering a period of 31 years (1992Q1-2022Q4), sourced from the Central Bank of Nigeria Statistical Bulletin and the National Bureau of Statistics. Two variables were considered, the dependent variable of the study (National economic development) proxied with Real Gross Domestic Product (RGPD) and the independent variable (internally sourced revenue) using the total internally sourced revenue that accrued to the federal (FIGR), States and Federal capital territory (SFCTIGR), and Local government (LIGR) as the explanatory variables for the study. The study found that internally sourced revenue positively affects Nigeria’s national economic development and that the period experienced unstable internally generated revenue and weak optimal use of the revenue. The study concluded that internally sourced revenue and optimal utilization of internally sourced revenue affect national economic development. Based on the findings, the study recommended that the Nigerian government should optimally utilize internally sourced revenue to enhance the national economic development of Nigeria.

show abstract

Diversification of the economy, tax revenue and sustainable growth in Nigeria

Cited by 4 publications

References 14 publications

Examining determinants of book-tax difference: Insights from Malaysian multinational corporations

Examining determinants of book-tax difference: Insights from Malaysian multinational corporations

Electronic Taxation and Revenue Generation in Ekiti State

Internally sourced revenue optimality and national economy development of Nigeria

Contact Info

Product

Resources

About