INCOME TAX EVASION AND AVOIDANCE THEIR CAUSES AND REMEDIES NIGERIA. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE

INCOME TAX EVASION AND AVOIDANCE THEIR CAUSES AND REMEDIES NIGERIA. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE

PREFACE

Revenue generation of our country is mostly based on the income derived from tax, which can either be direct tax or indirect tax.

This research specially focuses on the causes and remedies of tax evasion and avoidance in Nigeria. Having discovered the rate in which tax evaders and avoiders dodge or escape tax, this piece of writing also will gave solution on how to curtail the activities of tax evaders and avoiders.

To those who have been finding it difficult to distinguish or draw a sharp difference between tax evasion and avoidance, it is of immense important.

This is so because, it gave the full meaning of tax evasion and avoidance to a layman’s understanding.

Some of the things I discussed in this research project are: meaning of tax, tax evasion and avoidance, offences meted for tax evaders and tax avoiders, causes and remedies of income tax avoidance and avoidance and so many interesting topics not mentioned.

In fact, you will find the project very rewarding to real.

            CHAPTER ONE

INTRODUCTION 

1.1              STATEMENT OF THE PROBLEM  

Tax is a compulsory levy, which a government imposes on the income of eligible citizen in a state of which the government makes no direct benefit on the taxpayer.

Revenue means the money government receives from tax. In this situation, tax evasion is a strong weapon, which fight against the revenue generation in our country. As we know that tax evasion is the deliberate attempt of a taxpayer not to pay tax while avoidance is refers to attempt of a taxpayer to reduce his tax liability in order to pay little as tax.

This action affects the generation of revenues in Nigeria. it makes the objectives of which tax is meant for not to be achieved. Despite all the efforts made by the government to prevent the problem of tax evasion and avoidance, there are still reduction in the development of growth in the economy. Also reduction in capital expenditure, recurrent expenditure economic growth, monopolistic problem and national debt.

As a result of this, my focus is to discover the causes of this problem in the economy. Again to find out the possible solutions to this ugly problem.

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INCOME TAX EVASION AND AVOIDANCE THEIR CAUSES AND REMEDIES NIGERIA. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE