ASSESSMENT OF TAX POLICY REFORMS ON REVENUE GENERATION IN NIGERIA A CASE STUDY OF FEDERAL INLAND REVENUE SERVICE (FIRS) IBADAN OFFICE

Oyebamiji, Rahmon Soladoye and Olaleye, John Olatunde ()
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Oyebamiji, Rahmon Soladoye: Department of Management and Accounting, Postal: Faculty of Social and Management Sciences, Lead City University, Ibadan, Nigeria,, https://www.afarng.org/mjms/
Olaleye, John Olatunde: Department of Management and Accounting, Postal: Faculty of Social and Management Sciences, Lead City University, Ibadan, Nigeria, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2020, vol. 2, issue 1, 29-44

Abstract: This study evaluates the Tax Policy Reforms on Revenue Generation in Nigeria, using the Federal Inland Revenue Service (FIRS) Ibadan Office as a case study. Taxation is a fiscal policy measure and it is a veritable tool for social economic development in any country. Although the National Policy on tax administration was able to identify the challenges of tax system but failed to provide workable solution to address the challenges. Specific objectives of examines the main tax reform in the country highlights tax revenue profile and composition analyzing possible distributional impacts on the poor. Discussing major problems that could prevent effective tax implementation the country and offering suggestion for reforms. Questionnaires were distributed among the targeted population to obtain information from Federal Inland Revenue Offices located in Ibadan. Data collected in the course of this study were subjected to descriptive and inferential statistical analysis using percentages; descriptive statistics, mean and standard deviation. The study found that respondents are very concern about the problem of fraud in Nigeria. In addition, the results showed that respondent perception of tax policy has not impacted on the Revenue Generation in Nigeria showed that leakages are significantly affecting tax collections. It is recommended that the government should not be complacent and limit itself to oil wind fall. The government must be ready to venture into new area, after all no venture no gain. There is need to diversify the revenue portfolio for the country, and promote fiscal sustainability and economic viability at all level of government.

Keywords: Fiscal policy; Federal inland revenue service; Revenue generation and Tax policy reforms. (search for similar items in EconPapers)
Date: 2020
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