Taxation Policy and Public Economic Growth and Development in Nigeria

Henry Kehinde Fasua, Adeolu Thompson Mayaki and Sunday Fatoba Adebayo
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Henry Kehinde Fasua: University of Benin Faculty of Management Science Department of Accounting Benin City Edo State, Obafemi Awolowo University Ile Ife, Osun State, Nigeria.
Adeolu Thompson Mayaki: University of Benin Faculty of Management Science Department of Accounting Benin City Edo State, Obafemi Awolowo University Ile Ife, Osun State, Nigeria.
Sunday Fatoba Adebayo: University of Benin Faculty of Management Science Department of Accounting Benin City Edo State, Obafemi Awolowo University Ile Ife, Osun State, Nigeria.

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 4, 463-473

Abstract: This study examines taxation policy and public economic growth and development in Nigeria. Data were obtained from the yearly financial reports of the Central Bank of Nigeria on the Real Gross Domestic Product, Petroleum Profit Tax, Value Added Tax and Company Income Tax covering a period of 10 year, from 2011-2020 to test for relationship that exists between taxation policy and economic growth and development. A regressions analysis was used for the analysis of the data and pre-estimation tests were carried out. The findings of this study showed that all the explanatory variables (PPT, VAT and CIT) have significant positive relationships with dependent variable (RGDP) The study concludes that there is significant positive relationship between taxation policy and economic growth and development and recommends that every sector should comply with tax policy and standards established in order to reduce tax avoidance and evasion as well as increase government total revenue.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:7:y:2023:i:4:p:463-473

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