AN EVALUATION OF PERSONAL INCOME TAX IN NIGERIAN TAX SYSTEM.

AN EVALUATION OF PERSONAL INCOME TAX IN NIGERIAN TAX SYSTEM.

ABSTRACT

This paper attempt to explore AN EVALATION OF PERSONAL INCOME TAX IN NIGERIA TAX SYSTEM. The attention of the government has been drawn to the growing and need to provide adequate securities and social amenities for their well being. All these expenditure will be met through adequate revenue generated internally by the state government.

This project therefore assess the personal income tax on the tax collection system in Nigeria with a particular reference to Ekiti state Board of Internal revenue with a view to determine the ability and weakness of the on revenue generation and how to improve on it land eliminate the tax evasion no avoidance in the state.

Using questionnaire method of collecting data, the research tries to examine the revenue generated in Ekiti state from 2006 to 2012 and also used time series to forecast what the state is going to generate in the next four (4) years that is, 2013, 2014, 2015, and 2016 if adequate control is put in place.

The problem face during the research work are finance, time and the collection of statement revenue generated into the research work so that correct deduction were made.

Therefore, the study recommendations that, the need to improve internally generated revenue to eliminate the problem of adequate revenue to meet the expenditure on the state government. Also suggestion were made in way to realize the forecast revenue for 2006 to 2016. all these aimed at improving revenue planned and enhance effective collection and remittance of the collected.

TABLE CONTENTS

Title Page

Certification

Dedication

Acknowledgements

Abstract

Table Contents

CHAPTER ONE

1.0     Introduction

1.1     Background of the Study

  • Statement of the Problems 2

1.3     Objectives of the Study

1.4     The Significance of the Study

1.5      Statement of Research Questions/Hypotheses

1.6     Research Methodology

  • Scope and Limitations of the Study 9

1.8     Definition of Terms

1.9     Organisation of the Study

End of Chapter References

CHAPTER TWO

2.0     Literature Review

2.1     Background of the Nigerian Tax System

2.2     The Concept of Personal Income Tax (PIT)

2.3     The State Board of Internal Revenue (SBIR)

2.3.1  Composition of the State Board of Internal Revenue (SBIR

2.3.2  Assessment of Personal Income Tax

2.4     Meaning of Income

2.4.1  Exemption from Personal Income Tax

2.5     Tax Clearance Certificate

2.5.1  Information to be Disclosed in a Tax Clearance Certificate

2.5.2. The Operation of Pay As You Earn (PAYE) System

2.5.3  End of Year Returns by the Employer

2.6     Computation of Taxation of Employees

2.6.1  Treatment of Employment Receipts

2.6.2  Basic Salary

2.6.3  Housing Allowance

2.6.4  Transport Allowance

2.6.5  Meal Subsidy or Allowance

2.6.6  Utility Allowance

2.6.7  Entertainment Allowance

2.6.8  Leave Grant

2.6.9  Minimum Tax for an Individual on a Low Income

2.7     Taxation of a Sole Trader

2.7.1  Allowance and Disallowance Expenses

2.7.2  Treatment of Capital Allowances

2.7.3  Benefits of Personal Income Tax

2.8     Withholding Tax

2.9     The State Board of Internal Revenue Service Area,

Tax Office. Ado – Ekiti in Ekiti State

2.9.1  Account Section

2.9.2  Salaries and Wages Section.

2.9.3  Tax Clearances Certificate Section

2.9.4  Withholding Tax Section

2.9.5  Pay As You Earn PAYE Section

End of Chapter References

 CHAPTER THREE

3.0     Research Methodology

3.1     Research Focus

3.2     Research Instruments.

3.3     Restatement of Research Question/Hypothesis

3.4    Description of the Population and Sample of the Study.

3.5     Sources of Data Collection

3.7     Method of Data Analysis and Description of

Tools of Analysis.

End of Chapter References

CHAPTER FOUR

4.0     Data Analysis, Interpretation and Discussion of Findings.

4.1     Interpretation of Items

4.2     Analysis of Data

4.3     Analysis of the Table

End of Chapter References

 CHAPTER FIVE

5.0    Summary, Conclusion, Recommendation and

Suggestions for Further Studies

5.1     Summary

5.2     Conclusion

5.3     Recommendations

  • Suggestions For Further Studies

Bibliography

Appendix A

Questionnaire

FOR COMPLETE PROJECT TOPIC CALL +23407054961036

ONLINE PAYMENT

online payment nigeria

HOW TO ORDER FOR COMPLETE PROJECT MATERIAL

STEP 1

Complete Project Price: ₦3,000 (We accept mobile tranfer)

» Bank Branch Deposits, ATM/online transfers (Amount: ₦3,000 NGN)

Bank: FIRST BANK Account Name: OMOOGUN TAIYE Account Number: 3116913871 Account Type: SAVINGS Amount: ₦3,000 AFTER PAYMENT, TEXT YOUR TOPIC AND VALID EMAIL ADDRESS TO 07064961036 OR 08068355992 OR Click Here

Bank: ACCESS BANK Account Name: OMOOGUN TAIYE Account Number: 0766765735 Account Type: SAVINGS Amount: ₦3,000 AFTER PAYMENT, TEXT YOUR TOPIC AND VALID EMAIL ADDRESS TO 07064961036 OR 08068355992 Click Here

Bank: HERITAGE BANK Account Name: OMOOGUN TAIYE Account Number: 1909068248 Account Type: SAVINGS Amount: ₦3,000 AFTER PAYMENT, TEXT YOUR TOPIC AND VALID EMAIL ADDRESS TO 07064961036 OR 08068355992 Click Here
 

STEP 2.

Send Your Details and Project topic To us by filling this form.
 

Leave a Reply

Your email address will not be published. Required fields are marked *