COMPANY INCOME TAX AND NIGERIAN ECONOMIC GROWTH

Iduh Peter Ogwuche (), Abdullahi Musa Abdullahi () and Godwin Emmanuel Oyedokun ()
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Iduh Peter Ogwuche: Kwararafa University Wukari, Nigeria, Postal: Department of Business Administration,,, https://journal.citn.org/
Abdullahi Musa Abdullahi: Nasarawa University Keffi, Keffi, Nigeria., Postal: Department of Taxation,, https://journal.citn.org/
Godwin Emmanuel Oyedokun: Nasarawa State University, Keffi, Nigeria, Postal: Department of Accounting,, Faculty of Management Sciences,, https://journal.citn.org/

Journal of Taxation and Economic Development, 2019, vol. 18, issue 1, 72-83

Abstract: This study examines the impact of company income tax on economic growth in Nigeria. The analyses were performed using data from CBN bulletin, NSE fact book and FIRS annual report for an eleven-year period (2007-2017). The study employed multiple regression analysis techniques based on the SPSS 20 version for the analysis of data, where gross Domestic product (GDP), the dependent variable and proxy for economic growth, was regressed as a function of company income tax (CIT), and the independent variables and descriptive statistics were used to analyze the data. The findings indicated that company income tax has significant influence over economic growth in Nigeria. It is therefore recommended that the policies of company income tax should be reviewed to block the loopholes that encourage tax avoidance where most companies capitalize on to avoid tax and, full implementation of tax reforms agenda of 2003. The integrated tax office (ITO) introduced in 2004 should be adequately computerized and staffed with quality and experienced staff.

Keywords: Company tax; Economic growth; Policies; Tax avoidance; Tax reform (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jotaed:0007

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