Personal Income Tax and Infrastructural Development in Lagos State, Nigeria

Ade, Olugbade Julius; Festus, Adegbie Folajimi

doi:10.11648/j.jfa.20200806.14

Cited by 5 publications

(1 citation statement)

References 12 publications

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“…The findings revealed that PIT contributed immensely to Nigeria's economic growth within the period covered by the study. Ade and Adegbie [15] examined contribution of PIT to infrastructural development in Lagos State. The study showed that PIT had a significant positive effect on infrastructural provisions.…”

Section: Literature Reviewmentioning

confidence: 99%

Personal Income Tax Revenue and Nigeria's Aggregate Earnings

Omodero¹,

Okafor²,

Nmesirionye³

2021

ujaf

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The contribution of personal income tax to gross national income is assessed in this study. Over the years, tax revenue has been an important government source of income to finance public goods and services. In Nigeria, the tax structure includes personal income tax (PIT) as well as other direct and indirect taxes. There is PIT collection by both the state and federal governments. This study examines the influence of PIT on aggregate income of the country from 2011 to 2020 using ordinary least squares method. The dependent variable is the gross national earnings while the independent variable is the personal income tax collected at the federal government level in Nigeria. The study finds corruption and inflation as two useful control variables that have direct influence and link with individuals' tax compliance in Nigeria. The data sources include the Organization for Economic Co-operation and Development (OECD) for PIT figures, Transparency International (TI) for Corruption Perceptions Index (CPI) data and World Bank Economic Indicators for Gross National Income (GNI) and inflation statistics. The empirical findings reveal that PIT has a significant positive influence on the gross national income. The moderating variables applied are not significant and could not explain the vicissitudes in the gross national earnings. The study recommends improvement in the PIT administration to boost tax revenue collections and remittances to the government treasury. Further suggestion by this study is that corruption and inflation should be minimized to enhance PIT collection at both federal and state government levels.

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Section: Literature Reviewmentioning

confidence: 99%

Personal Income Tax Revenue and Nigeria's Aggregate Earnings

Omodero¹,

Okafor²,

Nmesirionye³

2021

ujaf

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The Effects of Corporate and Individual Income Taxes on A gricultural Development in Nigeria

Omodero

2022

Folia Oeconomica Stetinensia

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Research background: The contribution of Nigerian companies and personal income taxes to agricultural development must be assessed. Throughout the years, comparable studies have focused on general economic growth rather than a specific facet of the national economy. Agriculture ensures food safety, job creation, and industrialization, which is why government revenue should be reassigned to improve agricultural production. Purpose: The particular goal of this study is to investigate the extent to which corporate and individual income taxes influence agricultural growth in Nigeria. Research methodology: The data set for dependent and independent variables are collected from the Central Bank of Nigeria Statistical Bulletin and OECD accordingly. The reliant variable in the study is government investment in agriculture, while the independent variables are companies and individual income taxes. The data collected for this study is analyzed using a multiple regression analytical approach. Result: At the 1% level of significance, the results of the multiple regression analysis show that personal income tax has a significant and positive influence on agricultural development. Corporate tax does not have a significant impact on agriculture. This outcome could be attributed to the lack of government attention to agriculture as well as other Nigerian factors such as corruption and tax evasion. The research suggests that tax revenue should be collected more effectively and efficiently, and that tax resources be directed more toward sustainable agriculture. Novelty: This study is unique in that it is the first to examine the usefulness and application of corporation and individual income taxes to agricultural finance.

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Taxes and Road Infrastructural Development in Nigeria

E.,

L. E.

2024

African Journal of Accounting and Financial Research

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This study examined the taxes and road infrastructural development in Nigeria. The specific objectives of the study among others were to determine the relationship between of company income tax on road infrastructural development in Nigeria, ascertain the relationship between petroleum profit tax on road infrastructural development in Nigeria. Four research questions and four hypotheses were formulated as a guide for the study. This study adopted ex post facto research design. The population of the study was conducted on Federal Republic of Nigeria under the National Bureau of Statistics, Federal Inland Revenue Services, Central Bank of Nigeria (CBN) and Federal Ministry of Finance. The study period covered was forty-one (41) years spanning from 1982 to 2022. This study utilized Descriptive statistic, Unit Root Test and Ordinary Least Square Regression method with the aid of E-View 12. The findings of the study showed a positive and significant relationship between company income tax on road infrastructure in Nigeria; customs and excises duties positively and significantly affects road infrastructure in Nigeria; petroleum profit tax negatively and insignificantly affects road infrastructure in Nigeria and finally, value added tax negatively and insignificantly influence road infrastructure in Nigeria is statistically negative and insignificant. The study concluded that taxes such as company income tax, custom and excise duties affects road infrastructural development in Nigeria for the period spanning from 1982 – 2022. Therefore, the study suggested amongst other that, government should intensify efforts at developing the level of infrastructure in the country through tax payers’ revenue because, this study affirmed that company income tax and customs and excise duties positively and significantly affects road infrastructure in Nigeria

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Personal Income Tax and Infrastructural Development in Lagos State, Nigeria

Cited by 5 publications

References 12 publications

Personal Income Tax Revenue and Nigeria's Aggregate Earnings

Personal Income Tax Revenue and Nigeria's Aggregate Earnings

The Effects of Corporate and Individual Income Taxes on A gricultural Development in Nigeria

Taxes and Road Infrastructural Development in Nigeria

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