Select Currency
Translate this page

AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA

Format: MS WORD  |  Chapter: 1-5  |  Pages: 69  |  3681 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE FULL PROJECT

AN APPRAISAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA

 

CHAPTER ONE

INTRODUCTION

1.0      BACKGROUND OF THE STUDY

The global economic recession, which started in 1980’s as a result of decline in the economic growth of industries nation, high rate of inflation, dramatics rise in price of crude oil, increase cost of important a massive building-up of liquidity in the international capital market and unusual fluctuation in commodity prices was not fully felt in Nigeria until 1982, when the developed  countries applied a series of restructure monetary and fiscal policies to curtail the a fore-stated problems.

Seventeen years ago, precisely in 1983, the world bank report that the continuing recession in the industrial world several constrained developed countries growth in 1982. Weakness in the price of oil created difficulties for oil exporting developing countries’’. Reporting specifically on Nigeria, the bank stated that`` foreign exchange resource declined in 1982 from a level equivalent to three month worth. Investment, equal to about a third of gross domestics product (GDP) in 1980 –1981, has been radically reduced as both foreign exchange and government resource contract (85% of government revenue, both federal and states are direct generated from oil export).

An attempt to wriggle the country out of its financial predicament led to the initially of series of belt-tighten measure since 1982 to date.  These measure include: Ban on import of a large number of goods, specially taxes on luxury goods, enforcement of trick exchanges control reputation liberalized during the earlier boom, wages and ban on employment in the public sector, increased external borrowing in anticipation of oil income and of late the introduction of value added tax (v.a.t). The impact of the dwindling revenues to the federal government and this ever decreasing portion  of statutory allocation to states, has aroused tremendous interest in other source of revenue. Therefore, the hitherto relaxed tax laws are vigorously being enforced while levies of various descriptions are also being in various state of the federation. Nsukka local government area of Enugu state is not exempted from this nation economic recession. One of the major sources of revenue to the local government, second to statutory allocation from the state and federal  government, is the personal income tax (PIT) impose on all taxable persons in the local  government.

The personal income tax is allocated either through the Pay-As-You-Earn (PAYE) system in which employers of labour deduct tax due from the income of their employees and remit it to the division In this study, my interest lies in appraising the effective and efficiency of Pay-As-You-Earn (PAYE) as a system of tax collection. The examination of the weakness interest in the system will be carried out and based on empincal observation, make suitable recommendation as to how loopholes in the system could be plugged especially at this time of wide spread awareness of the great potentials of internally generally revenues.  
1.1  STATEMENT OF PROBLEM  
The expectation of the public from governments (local, state and federal) in the developing countries are such that the later are saddle with responsibilities for the provision of various services. The 1979 nigeria constitution sec.16 (a) state. Quite clearly that ``the state shall control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen as the basic of social justice and equality of status and opportunities’’. It is in an attempt to fulfill these expectation and sometimes constitutionals requirement that government rely on, among either source, the imposition of various taxes, weather direct or indirect on the defined taxable persons in their territory. Such tax and poll tax. These taxes are collected at source at source include taxes on dividend interest and rates. Also induction is tax on personal income tax through the Pay-As-You-Earn (PAYE) system has been effective in achieving its objectives of minimizing collection costs and reduction tax evasion  while increasing revenue to the local government. We will all look into the problem of the pay-As-You-Earn system and suggest measures to solve such problems that might be identified.  
1.2  PURPOSE OF THE STUDY
The purpose of the study can be broken down vas follows:
(a)  to ascertain the impact of  Pay-As-You-Earn system effectiveness on personal income tax revenue over a period of ten years.
(b)  To educate the truthfulness of the data provided by tax – payers in their tax return and ascertain the percentage of those who do not provide the information there in.
(c)   To find out weather there is any relationship between the truthfulness of information provided by tax payers in their tax returns and their age.
(d)  To identify the problem (if any) encountered by the internal revenue division and the employers of labour in the application of the PAYE system.
(e)   To find out how the employers perceive the PAYE system and the likely improvement that they would recommend.                     
On the basis of my findings, suggestion and recommendation will be made which I hope would be benefit to the local government it is also hope that future researcher in the area of the public finance would find the work a valuable source of literature.  
1.3  SIGNIFICANT The significance of adequate revenue for a developing economy such as that of Nigeria cannot be over emphasized. This study is being conducted with a view to exposing the inherent weakness on the Pay-As-You-Earn system of taxation. The suggestion and recommendation made on how loopholes in the system could be plugged. Especially at this time of widespread weakness of the great potential of internally generated revenue would be very beneficial to the governments. The local government will find it very useful in drawing up revenue and other methods of taxation which will in turn check the ever dividing revenue to the government.  
1.4  STATEMENT OF THE HYPOTHESIS
A hypothesis is a rational assumption, which subject to fast could be true or false The following hypothesis were made as a guide for this research
Ho: The effectiveness of the Pay-As-You-Earn system has not affected personal income tax revenue.
Hi: the effectiveness of the Pay-As-You-Earn system has affected  personal income tax revenue  
1.5   SCOPE OF STUDY The study shall be confined to an examination of the Pay-As-You-Earn system as in weather it is an efficient and effective method of personal income tax (PIT) collection in NSUKKA local government. It thus excludes any other system of tax revenue through Pay-As-You-Earn system with other tax revenue shall be evaluated only for the purpose of comparison.  
1.6   LIMITATION OF THE STUDY The  study was limited by the following constraints:
(a)  there was shortage of relevant texts journal and documentaries on the  subject of Pay-As-You-Earn system.
(b)  Some of the answer givens an opinions expressed in response to question were subjectively based due to different personal experience.
(c)   A study of this nature require longer period of time than was actually available to me.
(d)  There is this general problem that many Nigeria do not like to disclose their earnings.
(e)   Finance available for this study was inadequate considering its scope and my financial standing as a student.  
1.7   DEFINITION OF TERMS
(I)   BASIS PERIOD: the period in which the income of a taxpayer is assessed for the purposes.
(II)   ACCESSIBLE INCOME: income of a taxpayer from all sources in a given basis period less all allowable deductions and nontaxable income.
(III)   PRECEDING YEAR BASIS: A basis period by which income of a tax payer in the year proceeding the year of assessment is assessed.
(IV)   ACTUAL YEAR BASIS: a basis period by which income of a tax payer in the proceeding the year of assessment is accessed in that year.
(V)   YEAR OF ASSESSMENT: the government financial year in which the income of a taxpayer is assessed for tax purpose.
(VI)   CHARGEABLE INCOME: Accessible income less all reliefs.
(VII)   RELIEFS: deductible allowance granted to a taxpayer by the law in a relevant year of assessment.
(VIII)   TAX EVASION: an illegal act of paying less tax than ought to pay.
(IX)   TAX AVOIDANCE: a legal act by a tax payers to pay less than he ought to pay.
(X)   TAX RETURNS: relevant data supplies by a tax payer for the purpose of assessing income.
(XI)   TAX DEDUCTION CARD : a document used in the Pay As You Earn scheme in which total allowed relief’s are stated.
(XII)   TAX EMERGENCY CARD: the card temporarily used before the tax deduction card are made available to the employer by internal revenue division.

  DOWNLOAD THE FULL PROJECT

AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Abraham Ogbanje
NATIONAL OPEN UNIVERSITY OF NIGERIA
At first I was afraid.. But I discovered they are legit. I will bring more patronize
Very Good
Abdul Mateen Iddrisu
UDS
At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly
Excellent
Adam Alhassan Yakubu
UDS
Excellent work and delivery , I promise to share my testimonies everyone in need of this kind of work. You're the best
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Excellent

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for AN APPROVAL OF PAY AS YOU EARN SYSTEM OF TAXATION IN NIGERIA A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!