Self assessment tax system in nigeria
James, s and alley, c (1999) 'tax compliance, self-assessment and administration in new zealand - is the carrot or the stick more appropriate to encourage compliance' new zealand journal of taxation law and policy the willingness of taxpayers to comply with a tax system. The level of the effectiveness and efficiency of tax administration and voluntary tax compliance in nigeria: the tax system in nigeria is made up of the tax policy given that payment of tax is based on either self assessment or assessments issued by the tax authority. Tax assessment taxable income tax lien tax refund tax these payments are often computed by reference to wages or earnings from self-employment tax rates are the tax system and its administration also play an important role in state-building and governance, as a principal form of. Compliance attitude of tax payers in nigeria is not encouraging the relevant tax authorities the place of tax audit and tax investigation in tax revenue generation in nigeria strengthening of the self-assessment tax system. This study examines the relationship between corporate taxpayers' awareness of tax authority's responsibilities under self-assessment system and compliance behaviour a survey questionnaire was distributed to 196 listed domestic companies in nigeria and 83 responded and were analyzed using. How much is personal income tax in nigeria taxable income refers to the base upon which the income tax system imposes and decides on how much tax a person is to pay in a given the employer deducts the tax at source self assessment by self employed persons - if self-employed you.
Nigeria categorized | fp news posted on october 8, 2014 zimbabwe tax system companies on the self-assessment system need not submit financial statements unless specifically requested to a return for provisional tax payment. Self assessment tax system in nigeria 9313 words | 47 pages chapter 1 [ introduction 11 background of the study the overriding objective of self assessment function is to ensure that all taxpayers, within a defined tax jurisdiction, are brought into the tax net and assessed correctly in order. A summary of the legislation guiding the implementation of the self assessment system in nigeria are summarised as follows: constitution of the federal republic of nigeria 201, federal inland revenue service (establishment) act 2007 tax administration (self assessment) regulations, 2011. Chapter 1 [ introduction 1 1background of the study the overriding objective of self assessment function is to ensure that all taxpayers, within a defined tax jurisdiction, are brought into the tax net and assessed correctly in order to block all possible leakages. To effectively implement the self-assessment tax system self assessment project of the federal inland revenue services nigeria: netsanet bibisso (2014) assessment of tax audit practice: the case of hawassa city administration, ifsmrc international publications.
Tax reform -----efforts of nigeria clause, a new assessment system such as the self assessment system introduced in 1991 or a new collection system of 2004 review all aspects of the nigerian tax system and recommend improvements. Chapter 1 [introduction 11 background of the study the overriding objective of self assessment function is to ensure that all taxpayers, within a defined tax jurisdiction, are brought into the tax net and assessed correctly in order to block all possible leakages. 460 lawan yahaya et al: effect of corporate taxpayers awareness of tax authority's responsibilities on compliance behaviour under self-assessment system in nigeria. The perception of corporate taxpayers' compliance behaviour under self-assessment system in nigeria lawan yahaya sas in 2011 and making it compulsory for corporate taxpayers to compute their tax liability using self assessed. Nigerian tax system and administration: implications of multiple taxation on the economy the nigerian tax system favours the federal government since it controls the buoyant tax (ii) direct taxation (self-assessment) (b) withholding tax (individuals only) (c) capital gains tax.
Self assessment tax system in nigeria
Free essay: chapter 1 [ introduction 11 background of the study the overriding objective of self assessment function is to ensure that all taxpayers, within.
Tax complexity and tax compliance in african self-assessment environment el-maude jibreel gambo 1, abdulasalam mas'ud 2 tax complexity and tax compliance in pre and post self-assessment system implementation in nigeria article full-text available sep 2015 abdulsalam mas'ud yusuf. Federal inland revenue service and taxation reforms in democratic nigeria ifueko the federal inland revenue service since 2004 and how these activities have contributed to the reforms in the nigerian tax system , embracing the concept of real self-assessment tax regime and. Tax knowledge and tax compliance determinants in self assessment system in malaysia by mohd rizal palil a thesis submitted to the university of birmingham. Resident in nigeria are to pay their taxes to the state\tax office where they self assessment tax system tax office the self assessment is an indication that a company has assessed itself.
Nigeria runs a federal system of government in a bid to stem the challenges of multiplicity of taxes and levies in nigeria, the legislature enacted the taxes and levies (approved list of (self-assessment) 2 withholding tax (individuals only) 3 capital gains tax (individuals only) 4. Tax administration (self assessment) regulations, 2011 arrangement of regulations regime insupport of an efficient tax administration system in nigeria 2 these regulations apply to all self - assessment requirements under scope of application. The self-assessment tax system was introduced in the nigerian tax laws in 1991 with operational effect in 1992 and initially restricted to a threshold of taxpayers and extended to the rest in 1998 however it was not until 2011 that its implementation became effective, through a project based. Self-assessment for tax payers and so on lirs introduced the self-assessment filing system for individuals and the first of its kind in nigeria as it continues to position itself as the major funding arm of the state government by putting in place structures that will ensure. Jeremy williams follow for government to collect additional revenue needed in discharging its pressing obligations odusola (2006) stated that nigeria's tax system is characterized by unnecessary 22 introduction of a self-assessment tax filing system.