A Chartered Accountant, Lecturer, researcher and Ph.D holder with specialisation in Taxation, Fiscal policy, Forensic accounting, Fraud examination and Corporating reporting.. skilled in the use of E-views and STATA analytical tools
African Journal of Accounting and Financial Research, Apr 23, 2024
The study examines the moderating influence of corruption on the relationship between aggregate t... more The study examines the moderating influence of corruption on the relationship between aggregate tax revenue and economic development in Nigeria and Ghana. Ex-post facto research design was adopted for the study where country specific data extracted from the annual publications of OECD database on tax revenue in Africa, Central Bank of Nigeria and Transparency International (TI) for the periods 1981 to 2022 were used. The dependent variable was economic development measured with Gross Domestic Product at 2015 Constant price while the independent variable was Aggregate tax revenue. The relationship between the dependent and independent variables was moderated by the presence of corruption measured by Corruption perception index for Nigeria and Ghana. Different econometric techniques were applied in the study while the data was analyzed by means of the Autoregressive Distributed Lag (ARDL) model using E views Version 10. The findings showed that in Nigeria and Ghana, aggregate tax revenue had a positive and significant influence on economic development both short and long run whereas corruption had a negative but significant influence on the relationship between tax revenue and gross domestic product of Nigeria and Ghana. The study therefore recommends among others that the respective governments of Nigeria and Ghana should put in place adequate fiscal measures to ensure that revenue generated from taxes are effectively utilized to develop their economies. They should also see the need to tackle corruption in the process of executing projects by ensuring that activities of bad and corrupt leaders are closely monitored through further strengthening the hands of the anti Graft Agencies like the Economic and Financial Crimes Commission (EFCC) and ICPC to have the political will to persecute corrupt leaders and managers of public funds.
The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. ... more The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. The major objective was to ascertain whether there is a significant relationship between Federal Government total revenue within the TSA period and the Gross Domestic Product of Nigeria. Other objective was to investigate the difference existing between Federal Government total revenue Pre and Post TSA periods in Nigeria. The research design for this study was expo-facto. The work adopted secondary data generated from CBN Statistical Bulletin. The data used were those of Federal Government total revenue and Nominal GDP from 1981_ 2021. Ordinary Least Square analysis techniques was employed and run on E-views 10 for the regression analysis while T-test was adopted for the Pre-Post analysis in addition to other diagnostic techniques applied in the study. Results showed that there is a significant relationship between FG total revenue within the TSA period and GDP; it was also revealed that there is a significant difference in FG total revenue between the Pre TSA and Post TSA periods. This study recommended among others that Implementation of Treasury Single Accounts (TSA) policy should be sustained across all sectors of the economy; no doubt it will improve economic growth of the country and also that other loopholes should be avoided through TSA to further enhance the GDP of the country.
The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. ... more The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. The major objective was to ascertain whether there is a significant relationship between Federal Government total revenue within the TSA period and the Gross Domestic Product of Nigeria. Other objective was to investigate the difference existing between Federal Government total revenue Pre and Post TSA periods in Nigeria. The research design for this study was expo-facto. The work adopted secondary data generated from CBN Statistical Bulletin. The data used were those of Federal Government total revenue and Nominal GDP from 1981_ 2021. Ordinary Least Square analysis techniques was employed and run on E-views 10 for the regression analysis while T-test was adopted for the Pre-Post analysis in addition to other diagnostic techniques applied in the study. Results showed that there is a significant relationship between FG total revenue within the TSA period and GDP; it was also revealed that there is a significant difference in FG total revenue between the Pre TSA and Post TSA periods. This study recommended among others that Implementation of Treasury Single Accounts (TSA) policy should be sustained across all sectors of the economy; no doubt it will improve economic growth of the country and also that other loopholes should be avoided through TSA to further enhance the GDP of the country.
This study tries to assess the causal link between components of indirect tax namely Value added ... more This study tries to assess the causal link between components of indirect tax namely Value added tax and Custom and Excise Duties and economic growth measured using Real Gross Domestic Product. The study used panel data drawn from six (6) selected African countries namely Nigeria, Ghana, South Africa, Kenya, Egypt and Morocco from 2000 to 2018. These are countries within the African region that has a robust economy, broad gross domestic product and modernized business environment. Secondary data used were generated from World Bank World Development indicator, OECD data base on tax revenue in Africa and Central Bank of Nigeria. Quadratic match –Sum procedure was adopted in converting the annual data into quarterly data from E-views and the data are in their natural logarithm. Different econometric techniques were applied in the study while the data was analyzed by means of Autoregressive Distributed Lag (ARDL) Model using E views 10 and Stata version 16 packages. The study revealed t...
The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Ni... more The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Nigeria and their financial performance. Ex-post facto research design was adopted for the study where panel data extracted from the financial reports of ten (10) banks in Nigeria for the periods 2014 to 2020 were used. The dependent variable was financial performance measured with return on asset while the independent variable was audit fee. The variables were moderated with firm size and leverage. Generalized Method of Moments (GMM) Model was used to analyze the data under E-views version 10. The result revealed that audit fee has a positive and significant influence on financial performance of banks while firm size and leverage show negative but significant relationship with financial performance. The study therefore concludes that audit fee positively influences the financial performance of banks in Nigeria. The study recommends among others that bank management should ensure that audit fees charged by the auditors translate to better audit quality which is the reliance of financial users.
European Journal of Accounting, Finance and Investment, 2022
The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria.... more The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria. The study aimed at assessing the impact of company income tax and petroleum profit tax in creating or reducing income inequality in Nigeria. Ex-post facto research design was adopted where time series data extracted from Central bank of Nigeria, Federal Inland Revenue Service and Index Mundi for the periods 1990 to 2020 were used. The dependent variable for the study was income inequality measured with Gini Coefficient while the independent variable was direct tax revenue which consists of Company income tax and Petroleum profit tax. Different econometric techniques were applied while the extracted data were analyzed using the Error Correction Model (ECM) under E-views version 10. The result revealed that Company income tax showed a negative and insignificant relationship with income inequality while Petroleum profit tax showed a positive and insignificant relationship with income inequality. The study therefore concludes that company income tax reduces income inequality in Nigeria while Petroleum profit tax increases income inequality in Nigeria. The study recommends among others that Government should ensure that tax rate is progressive such that the rich pays higher tax than the poor. Also, company income tax should be given more drive as it has been found to help in reducing income inequality in Nigeria.
The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Ni... more The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Nigeria and their financial performance. Ex-post facto research design was adopted for the study where panel data extracted from the financial reports of ten (10) banks in Nigeria for the periods 2014 to 2020 were used. The dependent variable was financial performance measured with return on asset while the independent variable was audit fee. The variables were moderated with firm size and leverage. Generalized Method of Moments (GMM) Model was used to analyze the data under E-views version 10. The result revealed that audit fee has a positive and significant influence on financial performance of banks while firm size and leverage show negative but significant relationship with financial performance. The study therefore concludes that audit fee positively influences the financial performance of banks in Nigeria. The study recommends among others that bank management should ensure that audit fees charged by the auditors translate to better audit quality which is the reliance of financial users.
This study tries to assess the causal link between components of indirect tax namely Value added ... more This study tries to assess the causal link between components of indirect tax namely Value added tax and Custom and Excise Duties and economic growth measured using Real Gross Domestic Product. The study used panel data drawn from six (6) selected African countries namely Nigeria, Ghana, South Africa, Kenya, Egypt and Morocco from 2000 to 2018. These are countries within the African region that has a robust economy, broad gross domestic product and modernized business environment. Secondary data used were generated from World Bank World Development indicator, OECD data base on tax revenue in Africa and Central Bank of Nigeria. Quadratic match-Sum procedure was adopted in converting the annual data into quarterly data from E-views and the data are in their natural logarithm. Different econometric techniques were applied in the study while the data was analyzed by means of Autoregressive Distributed Lag (ARDL) Model using E views 10 and Stata version 16 packages. The study revealed that custom and excise duties had a positive and significant relationship with economic growth of selected African countries in the long run, while there is a positive but insignificant influence of custom and excise duties on economic growth of these countries in the short run. Also, the findings showed that there is no significant influence of Value added tax (VAT) on real GDP of the selected African countries in the long run; while Value added tax exhibited a positive though insignificant influence on real GDP in the short run in these countries. The study recommends among others that a conducive environment for entrepreneurship, tax incentives, and innovation must be offered, as well as job opportunities in order to increase these countries' revenue bases, particularly through business and also these countries' government should expand, nurture and sustain their value added tax and other tax bases in order to continue to support positive economic growth.
European Journal of Accounting, Finance and Investment, 2022
The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria.... more The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria. The study aimed at assessing the impact of company income tax and petroleum profit tax in creating or reducing income inequality in Nigeria. Ex-post facto research design was adopted where time series data extracted from Central bank of Nigeria, Federal Inland Revenue Service and Index Mundi for the periods 1990 to 2020 were used. The dependent variable for the study was income inequality measured with Gini Coefficient while the independent variable was direct tax revenue which consists of Company income tax and Petroleum profit tax. Different econometric techniques were applied while the extracted data were analyzed using the Error Correction Model (ECM) under E-views version 10. The result revealed that Company income tax showed a negative and insignificant relationship with income inequality while Petroleum profit tax showed a positive and insignificant relationship with income inequality. The study therefore concludes that company income tax reduces income inequality in Nigeria while Petroleum profit tax increases income inequality in Nigeria. The study recommends among others that Government should ensure that tax rate is progressive such that the rich pays higher tax than the poor. Also, company income tax should be given more drive as it has been found to help in reducing income inequality in Nigeria.
Advances in Social Sciences Research Journal, 2019
The contribution of taxation to any economy globally cannot be over emphasized. Â This research wo... more The contribution of taxation to any economy globally cannot be over emphasized. Â This research work is on Voluntary Assets and Income Declaration Scheme (VAIDS) and Company Income Tax (CIT): A Post-Mortem. The main objective of this study is to explore the impact of Voluntary Assets and Income Declaration Scheme on company income tax in Nigeria. Time series data were applied in carrying out this research work. Ordinary least square regression analysis was employed in this work with the use of STATA 13 package. The scope of the study is basically focused on the assessment and effect of voluntary assets and income declaration scheme on company income tax in Nigeria from June 2017 to March 2018 a period of 9 months but later extended to July 2018 by the Federal Government of Nigeria. This research focuses on a broad range of issues with the collection of a diversity of data in the field of VAIDS and company income. A literature review was used to determine the theoretical basis for res...
Advances in Social Sciences Research Journal, 2019
The contribution of taxation to any economy globally cannot be over emphasized. This research wor... more The contribution of taxation to any economy globally cannot be over emphasized. This research work is on Voluntary Assets and Income Declaration Scheme (VAIDS) and Company Income Tax (CIT): A Post-Mortem. The main objective of this study is to explore the impact of Voluntary Assets and Income Declaration Scheme on company income tax in Nigeria. Time series data were applied in carrying out this research work. Ordinary least square regression analysis was employed in this work with the use of STATA 13 package. The scope of the study is basically focused on the assessment and effect of voluntary assets and income declaration scheme on company income tax in Nigeria from June 2017 to March 2018 a period of 9 months but later extended to July 2018 by the Federal Government of Nigeria. This research focuses on a broad range of issues with the collection of a diversity of data in the field of VAIDS and company income. A literature review was used to determine the theoretical basis for research topic and prior research method conducted on various aspects of relating to VAIDS and company income tax. This work adopted the ex-post-facto research design. The findings reveal that Company Income Tax has an insignificant impact on VAIDS. The work recommends that the voluntary assets and income declaration scheme should be a permanent programme as a separate body should be set up to inspect and ensure the smooth running of the programme.
Journal of Accounting and Financial Management , 2021
This research is on the stamp duty, revenue generation and economic growth in Nigeria. The work d... more This research is on the stamp duty, revenue generation and economic growth in Nigeria. The work determined if revenue generated from stamp duty has effect on total federal revenue collected in Nigeria and if revenue generated from stamp duty has impact on economic growth Nigeria. Time series data were applied in conducting this research. Ordinary Least Square regression analysis was carried out using STATA 13 software. The data were collected from published Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Service (FIRS) and National Bureau of Statistic (NBS) reports and NIPOST reports for various year. The finding reveals that revenue generated from stamp duty does not have significant impact on total federal revenue collected in Nigeria. The study also reveals that revenue generated from stamp duty have significant impact on economic growth in Nigeria. The Researcher recommends that the Government should take necessary steps to address the problem of corruption and mismanagement of all proceeds from stamp duty, measures should be taken to check all loopholes and leakages that will reduce revenue generation from stamp duty or under declaration of actual proceeds by agencies in charge. Government also needs to ensure uniformity to the use of stamp duty in various organisations in Nigeria. Also there is need to invest in light, good roads and water supply which are all ingredients of sustainable development.
Journal of Business and African Economy, Aug 14, 2019
This work investigated the effect of CEO duality and board size on the performance of quoted Nige... more This work investigated the effect of CEO duality and board size on the performance of quoted Nigerian brewery companies. Corporate governance has been brought to limelight as a result of the dilemma faced by organizations ranging from large scale misappropriation of funds, excessive executive remuneration and unequal treatment of shareholders to total corporate failure. The objectives of this research were to: Determine whether chief executive officer (CEO) duality has any effect on firm's financial performance and to examine how board size influences the firm's financial performance, as independent variables while the performance variable used was Profit after Tax (PAT) as dependent variable. Multiple Regression test was used to estimate the relationship between CEO duality and board size as components of corporate governance and firm financial performance. This study adopted a descriptive research design and data was analysed using a multiple linear regression model. The findings reveal that there is an insignificant relationship between CEO duality and firm performance. The study also revealed a significant relationship between board size and increased performance. The study recommends that there is need to have a sizeable board for an effective increase in performance and that Chief Executive Officer (CEO) and chairman should be separated so that the performance of the firms will be carried out effectively without much interference.
Anglophone and Francophone African countries over the period 2000-2018. The study made use
while... more Anglophone and Francophone African countries over the period 2000-2018. The study made use while company income tax negatively though insignificantly influences the Real GDP of the data base. These data are converted into quarterly data using Quadratic Match-Sum procedure from E-views. The choice of this period is due to availability of data that cut across the countries under investigation. The data was analyzed by means of Vector Error Correction Model using E especially through the companies, a good environment for entrepreneurship and innovation to impacted on Real GDP in the long run in the Francophone countries like Madagascar and Rwanda and reasons for modifications to make taxpayers see clearly the reasons to pay taxes as at when of annual secondary data generated from World Bank Development indicator, OECD revenue thrive must be provided and employment opportunities should be created. Also, Government should make it a routine to regularly furnish taxpayers with the basic objectives of its tax system causal effect of company income tax on Real GDP in the selected countries. Based on the findings, the study recommends among others, that to enhance the tax base of the selected countries Anglophone countries like Nigeria and Ghana. The findings also revealed that there is a short run views 10 package. The study reveals that company income tax (CIT) significantly but negatively due.
African Journal of Accounting and Financial Research, Apr 23, 2024
The study examines the moderating influence of corruption on the relationship between aggregate t... more The study examines the moderating influence of corruption on the relationship between aggregate tax revenue and economic development in Nigeria and Ghana. Ex-post facto research design was adopted for the study where country specific data extracted from the annual publications of OECD database on tax revenue in Africa, Central Bank of Nigeria and Transparency International (TI) for the periods 1981 to 2022 were used. The dependent variable was economic development measured with Gross Domestic Product at 2015 Constant price while the independent variable was Aggregate tax revenue. The relationship between the dependent and independent variables was moderated by the presence of corruption measured by Corruption perception index for Nigeria and Ghana. Different econometric techniques were applied in the study while the data was analyzed by means of the Autoregressive Distributed Lag (ARDL) model using E views Version 10. The findings showed that in Nigeria and Ghana, aggregate tax revenue had a positive and significant influence on economic development both short and long run whereas corruption had a negative but significant influence on the relationship between tax revenue and gross domestic product of Nigeria and Ghana. The study therefore recommends among others that the respective governments of Nigeria and Ghana should put in place adequate fiscal measures to ensure that revenue generated from taxes are effectively utilized to develop their economies. They should also see the need to tackle corruption in the process of executing projects by ensuring that activities of bad and corrupt leaders are closely monitored through further strengthening the hands of the anti Graft Agencies like the Economic and Financial Crimes Commission (EFCC) and ICPC to have the political will to persecute corrupt leaders and managers of public funds.
The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. ... more The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. The major objective was to ascertain whether there is a significant relationship between Federal Government total revenue within the TSA period and the Gross Domestic Product of Nigeria. Other objective was to investigate the difference existing between Federal Government total revenue Pre and Post TSA periods in Nigeria. The research design for this study was expo-facto. The work adopted secondary data generated from CBN Statistical Bulletin. The data used were those of Federal Government total revenue and Nominal GDP from 1981_ 2021. Ordinary Least Square analysis techniques was employed and run on E-views 10 for the regression analysis while T-test was adopted for the Pre-Post analysis in addition to other diagnostic techniques applied in the study. Results showed that there is a significant relationship between FG total revenue within the TSA period and GDP; it was also revealed that there is a significant difference in FG total revenue between the Pre TSA and Post TSA periods. This study recommended among others that Implementation of Treasury Single Accounts (TSA) policy should be sustained across all sectors of the economy; no doubt it will improve economic growth of the country and also that other loopholes should be avoided through TSA to further enhance the GDP of the country.
The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. ... more The study reappraised the effect of Treasury Single Account (TSA) on economic growth of Nigeria. The major objective was to ascertain whether there is a significant relationship between Federal Government total revenue within the TSA period and the Gross Domestic Product of Nigeria. Other objective was to investigate the difference existing between Federal Government total revenue Pre and Post TSA periods in Nigeria. The research design for this study was expo-facto. The work adopted secondary data generated from CBN Statistical Bulletin. The data used were those of Federal Government total revenue and Nominal GDP from 1981_ 2021. Ordinary Least Square analysis techniques was employed and run on E-views 10 for the regression analysis while T-test was adopted for the Pre-Post analysis in addition to other diagnostic techniques applied in the study. Results showed that there is a significant relationship between FG total revenue within the TSA period and GDP; it was also revealed that there is a significant difference in FG total revenue between the Pre TSA and Post TSA periods. This study recommended among others that Implementation of Treasury Single Accounts (TSA) policy should be sustained across all sectors of the economy; no doubt it will improve economic growth of the country and also that other loopholes should be avoided through TSA to further enhance the GDP of the country.
This study tries to assess the causal link between components of indirect tax namely Value added ... more This study tries to assess the causal link between components of indirect tax namely Value added tax and Custom and Excise Duties and economic growth measured using Real Gross Domestic Product. The study used panel data drawn from six (6) selected African countries namely Nigeria, Ghana, South Africa, Kenya, Egypt and Morocco from 2000 to 2018. These are countries within the African region that has a robust economy, broad gross domestic product and modernized business environment. Secondary data used were generated from World Bank World Development indicator, OECD data base on tax revenue in Africa and Central Bank of Nigeria. Quadratic match –Sum procedure was adopted in converting the annual data into quarterly data from E-views and the data are in their natural logarithm. Different econometric techniques were applied in the study while the data was analyzed by means of Autoregressive Distributed Lag (ARDL) Model using E views 10 and Stata version 16 packages. The study revealed t...
The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Ni... more The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Nigeria and their financial performance. Ex-post facto research design was adopted for the study where panel data extracted from the financial reports of ten (10) banks in Nigeria for the periods 2014 to 2020 were used. The dependent variable was financial performance measured with return on asset while the independent variable was audit fee. The variables were moderated with firm size and leverage. Generalized Method of Moments (GMM) Model was used to analyze the data under E-views version 10. The result revealed that audit fee has a positive and significant influence on financial performance of banks while firm size and leverage show negative but significant relationship with financial performance. The study therefore concludes that audit fee positively influences the financial performance of banks in Nigeria. The study recommends among others that bank management should ensure that audit fees charged by the auditors translate to better audit quality which is the reliance of financial users.
European Journal of Accounting, Finance and Investment, 2022
The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria.... more The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria. The study aimed at assessing the impact of company income tax and petroleum profit tax in creating or reducing income inequality in Nigeria. Ex-post facto research design was adopted where time series data extracted from Central bank of Nigeria, Federal Inland Revenue Service and Index Mundi for the periods 1990 to 2020 were used. The dependent variable for the study was income inequality measured with Gini Coefficient while the independent variable was direct tax revenue which consists of Company income tax and Petroleum profit tax. Different econometric techniques were applied while the extracted data were analyzed using the Error Correction Model (ECM) under E-views version 10. The result revealed that Company income tax showed a negative and insignificant relationship with income inequality while Petroleum profit tax showed a positive and insignificant relationship with income inequality. The study therefore concludes that company income tax reduces income inequality in Nigeria while Petroleum profit tax increases income inequality in Nigeria. The study recommends among others that Government should ensure that tax rate is progressive such that the rich pays higher tax than the poor. Also, company income tax should be given more drive as it has been found to help in reducing income inequality in Nigeria.
The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Ni... more The study sought to evaluate the causal link between audit fees paid by Deposit Money Banks in Nigeria and their financial performance. Ex-post facto research design was adopted for the study where panel data extracted from the financial reports of ten (10) banks in Nigeria for the periods 2014 to 2020 were used. The dependent variable was financial performance measured with return on asset while the independent variable was audit fee. The variables were moderated with firm size and leverage. Generalized Method of Moments (GMM) Model was used to analyze the data under E-views version 10. The result revealed that audit fee has a positive and significant influence on financial performance of banks while firm size and leverage show negative but significant relationship with financial performance. The study therefore concludes that audit fee positively influences the financial performance of banks in Nigeria. The study recommends among others that bank management should ensure that audit fees charged by the auditors translate to better audit quality which is the reliance of financial users.
This study tries to assess the causal link between components of indirect tax namely Value added ... more This study tries to assess the causal link between components of indirect tax namely Value added tax and Custom and Excise Duties and economic growth measured using Real Gross Domestic Product. The study used panel data drawn from six (6) selected African countries namely Nigeria, Ghana, South Africa, Kenya, Egypt and Morocco from 2000 to 2018. These are countries within the African region that has a robust economy, broad gross domestic product and modernized business environment. Secondary data used were generated from World Bank World Development indicator, OECD data base on tax revenue in Africa and Central Bank of Nigeria. Quadratic match-Sum procedure was adopted in converting the annual data into quarterly data from E-views and the data are in their natural logarithm. Different econometric techniques were applied in the study while the data was analyzed by means of Autoregressive Distributed Lag (ARDL) Model using E views 10 and Stata version 16 packages. The study revealed that custom and excise duties had a positive and significant relationship with economic growth of selected African countries in the long run, while there is a positive but insignificant influence of custom and excise duties on economic growth of these countries in the short run. Also, the findings showed that there is no significant influence of Value added tax (VAT) on real GDP of the selected African countries in the long run; while Value added tax exhibited a positive though insignificant influence on real GDP in the short run in these countries. The study recommends among others that a conducive environment for entrepreneurship, tax incentives, and innovation must be offered, as well as job opportunities in order to increase these countries' revenue bases, particularly through business and also these countries' government should expand, nurture and sustain their value added tax and other tax bases in order to continue to support positive economic growth.
European Journal of Accounting, Finance and Investment, 2022
The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria.... more The study focused on appraising the impact of direct tax revenue on income inequality in Nigeria. The study aimed at assessing the impact of company income tax and petroleum profit tax in creating or reducing income inequality in Nigeria. Ex-post facto research design was adopted where time series data extracted from Central bank of Nigeria, Federal Inland Revenue Service and Index Mundi for the periods 1990 to 2020 were used. The dependent variable for the study was income inequality measured with Gini Coefficient while the independent variable was direct tax revenue which consists of Company income tax and Petroleum profit tax. Different econometric techniques were applied while the extracted data were analyzed using the Error Correction Model (ECM) under E-views version 10. The result revealed that Company income tax showed a negative and insignificant relationship with income inequality while Petroleum profit tax showed a positive and insignificant relationship with income inequality. The study therefore concludes that company income tax reduces income inequality in Nigeria while Petroleum profit tax increases income inequality in Nigeria. The study recommends among others that Government should ensure that tax rate is progressive such that the rich pays higher tax than the poor. Also, company income tax should be given more drive as it has been found to help in reducing income inequality in Nigeria.
Advances in Social Sciences Research Journal, 2019
The contribution of taxation to any economy globally cannot be over emphasized. Â This research wo... more The contribution of taxation to any economy globally cannot be over emphasized. Â This research work is on Voluntary Assets and Income Declaration Scheme (VAIDS) and Company Income Tax (CIT): A Post-Mortem. The main objective of this study is to explore the impact of Voluntary Assets and Income Declaration Scheme on company income tax in Nigeria. Time series data were applied in carrying out this research work. Ordinary least square regression analysis was employed in this work with the use of STATA 13 package. The scope of the study is basically focused on the assessment and effect of voluntary assets and income declaration scheme on company income tax in Nigeria from June 2017 to March 2018 a period of 9 months but later extended to July 2018 by the Federal Government of Nigeria. This research focuses on a broad range of issues with the collection of a diversity of data in the field of VAIDS and company income. A literature review was used to determine the theoretical basis for res...
Advances in Social Sciences Research Journal, 2019
The contribution of taxation to any economy globally cannot be over emphasized. This research wor... more The contribution of taxation to any economy globally cannot be over emphasized. This research work is on Voluntary Assets and Income Declaration Scheme (VAIDS) and Company Income Tax (CIT): A Post-Mortem. The main objective of this study is to explore the impact of Voluntary Assets and Income Declaration Scheme on company income tax in Nigeria. Time series data were applied in carrying out this research work. Ordinary least square regression analysis was employed in this work with the use of STATA 13 package. The scope of the study is basically focused on the assessment and effect of voluntary assets and income declaration scheme on company income tax in Nigeria from June 2017 to March 2018 a period of 9 months but later extended to July 2018 by the Federal Government of Nigeria. This research focuses on a broad range of issues with the collection of a diversity of data in the field of VAIDS and company income. A literature review was used to determine the theoretical basis for research topic and prior research method conducted on various aspects of relating to VAIDS and company income tax. This work adopted the ex-post-facto research design. The findings reveal that Company Income Tax has an insignificant impact on VAIDS. The work recommends that the voluntary assets and income declaration scheme should be a permanent programme as a separate body should be set up to inspect and ensure the smooth running of the programme.
Journal of Accounting and Financial Management , 2021
This research is on the stamp duty, revenue generation and economic growth in Nigeria. The work d... more This research is on the stamp duty, revenue generation and economic growth in Nigeria. The work determined if revenue generated from stamp duty has effect on total federal revenue collected in Nigeria and if revenue generated from stamp duty has impact on economic growth Nigeria. Time series data were applied in conducting this research. Ordinary Least Square regression analysis was carried out using STATA 13 software. The data were collected from published Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Service (FIRS) and National Bureau of Statistic (NBS) reports and NIPOST reports for various year. The finding reveals that revenue generated from stamp duty does not have significant impact on total federal revenue collected in Nigeria. The study also reveals that revenue generated from stamp duty have significant impact on economic growth in Nigeria. The Researcher recommends that the Government should take necessary steps to address the problem of corruption and mismanagement of all proceeds from stamp duty, measures should be taken to check all loopholes and leakages that will reduce revenue generation from stamp duty or under declaration of actual proceeds by agencies in charge. Government also needs to ensure uniformity to the use of stamp duty in various organisations in Nigeria. Also there is need to invest in light, good roads and water supply which are all ingredients of sustainable development.
Journal of Business and African Economy, Aug 14, 2019
This work investigated the effect of CEO duality and board size on the performance of quoted Nige... more This work investigated the effect of CEO duality and board size on the performance of quoted Nigerian brewery companies. Corporate governance has been brought to limelight as a result of the dilemma faced by organizations ranging from large scale misappropriation of funds, excessive executive remuneration and unequal treatment of shareholders to total corporate failure. The objectives of this research were to: Determine whether chief executive officer (CEO) duality has any effect on firm's financial performance and to examine how board size influences the firm's financial performance, as independent variables while the performance variable used was Profit after Tax (PAT) as dependent variable. Multiple Regression test was used to estimate the relationship between CEO duality and board size as components of corporate governance and firm financial performance. This study adopted a descriptive research design and data was analysed using a multiple linear regression model. The findings reveal that there is an insignificant relationship between CEO duality and firm performance. The study also revealed a significant relationship between board size and increased performance. The study recommends that there is need to have a sizeable board for an effective increase in performance and that Chief Executive Officer (CEO) and chairman should be separated so that the performance of the firms will be carried out effectively without much interference.
Anglophone and Francophone African countries over the period 2000-2018. The study made use
while... more Anglophone and Francophone African countries over the period 2000-2018. The study made use while company income tax negatively though insignificantly influences the Real GDP of the data base. These data are converted into quarterly data using Quadratic Match-Sum procedure from E-views. The choice of this period is due to availability of data that cut across the countries under investigation. The data was analyzed by means of Vector Error Correction Model using E especially through the companies, a good environment for entrepreneurship and innovation to impacted on Real GDP in the long run in the Francophone countries like Madagascar and Rwanda and reasons for modifications to make taxpayers see clearly the reasons to pay taxes as at when of annual secondary data generated from World Bank Development indicator, OECD revenue thrive must be provided and employment opportunities should be created. Also, Government should make it a routine to regularly furnish taxpayers with the basic objectives of its tax system causal effect of company income tax on Real GDP in the selected countries. Based on the findings, the study recommends among others, that to enhance the tax base of the selected countries Anglophone countries like Nigeria and Ghana. The findings also revealed that there is a short run views 10 package. The study reveals that company income tax (CIT) significantly but negatively due.
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while company income tax negatively though insignificantly influences the Real GDP of the
data base. These data are converted into quarterly data using Quadratic Match-Sum procedure
from E-views. The choice of this period is due to availability of data that cut across the countries
under investigation. The data was analyzed by means of Vector Error Correction Model using E
especially through the companies, a good environment for entrepreneurship and innovation to
impacted on Real GDP in the long run in the Francophone countries like Madagascar and Rwanda
and reasons for modifications to make taxpayers see clearly the reasons to pay taxes as at when
of annual secondary data generated from World Bank Development indicator, OECD revenue
thrive must be provided and employment opportunities should be created. Also, Government
should make it a routine to regularly furnish taxpayers with the basic objectives of its tax system
causal effect of company income tax on Real GDP in the selected countries. Based on the findings,
the study recommends among others, that to enhance the tax base of the selected countries
Anglophone countries like Nigeria and Ghana. The findings also revealed that there is a short run
views 10 package. The study reveals that company income tax (CIT) significantly but negatively
due.
while company income tax negatively though insignificantly influences the Real GDP of the
data base. These data are converted into quarterly data using Quadratic Match-Sum procedure
from E-views. The choice of this period is due to availability of data that cut across the countries
under investigation. The data was analyzed by means of Vector Error Correction Model using E
especially through the companies, a good environment for entrepreneurship and innovation to
impacted on Real GDP in the long run in the Francophone countries like Madagascar and Rwanda
and reasons for modifications to make taxpayers see clearly the reasons to pay taxes as at when
of annual secondary data generated from World Bank Development indicator, OECD revenue
thrive must be provided and employment opportunities should be created. Also, Government
should make it a routine to regularly furnish taxpayers with the basic objectives of its tax system
causal effect of company income tax on Real GDP in the selected countries. Based on the findings,
the study recommends among others, that to enhance the tax base of the selected countries
Anglophone countries like Nigeria and Ghana. The findings also revealed that there is a short run
views 10 package. The study reveals that company income tax (CIT) significantly but negatively
due.