ABSTRACT
This term paper is written to give an insight into the effect of TAXATION in Nigeria Prospects for Reform.
In realization of this purpose which was to examine the effect of taxation in Nigeria prospects for reform, the term paper provides clearly a complete coverage of the study.
Chapter one dealt with the introduction of the subject matter. Chapter two examines the general principles of Taxation in Nigeria prospects for reform. While chapter three is the summary and recommendation of the subject matter.
The term paper will be found useful over its encouragement to investment and reviews to the extent taxation in Nigeria prospects for reform effect investment.
According to Toye (1978) the practice to operate science which gives tax concessions has widely spread among government of developing countries. Toye went further to say that these subside from public expenditure is being given to newly established firms or only firms starting new activities. This is to include the private sector to invest and participate in the taxation in Nigeria prospects for reform.
TABLE OF CONTENT
TITLE PAGEII
APPROVAL PAGEIII
DEDICATIONIV
ACKNOWLEDGEMENTV
ABSTRACTVI
TABLE OF CONTENTVII
CHAPTER ONE
1.0INTRODUCTION1
1.1BACKGROUND OF THE STUDY2
1.2STATEMENT OF THE RESEARCH PROBLEM3
1.3OBJECTIVE/SIGNIFICANCE OF THE STUDY4
1.4SCOPE AND LIMITATIONS OF THE STUDY5
CHAPTER TWO
2.0GENERAL PRINCIPLES OF TAXATION IN NIGERIA
PROSPECTS FOR REFORM 8
2.1DEFINITION9
2.2DIRECT AND INDIRECT TAXES9
2.3JUSTIFICATION OF TAXATION OF
CUSTOMS & PORT REFORM10
2.4ESSENTIAL CANNONS OF GOOD TAX SYSTEM11
2.5TAX ADMINISTRATION IN NIGERIA12
2.6OBJECTIVES OF INCOME TAX
MANAGEMENT AC (ITMA)15
2.7POWERS AND DUTIES OF THE JOINT TAX BOARD15
2.8EMPLOYMENT OF INCOME EXEMPTED17
2.9DIVIDEND, INTEREST OR DISCOUNT17
CHAPTER THREE
3.0RELIEF AND ALLOWANCE20
PERSONAL ALLOWANCE20
CHARGEABLE INCOME21
MARRIAGE ALLOWANCE21
CHILD ALLOWANCE21
DEPENDENT RELATIVE ALLOWANCE21
LIFE ASSURANCE.22
3.1EARNED INCOME22
3.2FEDERAL COLLECTED REVENUE FOR REFORM23
3.3REVIEW OF VALUE ADDED TAX (VAT)23
DISTRIBUTION FORMULA24
3.4TAXATION TO BE USED AS DEVELOPMENT TOOL30
SUMMARY30
RECOMMENDATION30
CONCLUSION31
BIBLIOGRAPHY. 33