Description
INTRODUCTION
Every country in the world tends to generate income through tax administration. In Nigeria the company income tax administration aims and tries to tax each company in the state more effectively. However the level at which the company income tax Administration in Nigeria tend to achieve its desired goals and objectives depends mostly on the tax office and the company that is operating in Abia state. For the tax Administration in Nigeria to be effective the aspect of the companies been taxed should be considered adequately and more accurately so that the company would provide reliable financial performance information for assessment. In which the federal government derives its income. Due to the ever changing tax administration policies in the country and modifications in the aspect of taxation in Nigeria some companies want to stay afloat and employ all kind of strategies that benefits them. Some of them evade tax and some avoid tax. When tax in Nigeria is paid by the various companies operating in the state the
revenue collected are used to provide utility services and providing additional government services such as in education and transport which are of great importance to the growth of the economy of the state and to the country.
Tax administration in the country is a very important aspect that assist in the provision of revenue to the economy of which the avoidance of tax payment by the companies in the country in general and in Abia state in particular will result to a serious damage to the revenue which should have been generated and used for the provision of infrastructure. When a company is been taxed by the federal board of inland revenue (FBIR) the company is meant to give an accurate information about their income but some companies go to the extent of forgery in provision of their documents which gives an incorrect information to the board, thereby causing reduction in their tax assessment. Based on the above observation or trend of this action over time this study set out to examine the problems and prospects of the company income tax administration in Nigeria and in Abia state to be precise.
TABLE OF CONTENTS
CHAPTER ONE
Introduction
1.1 Background of Study.
1.2 Statement of Problems
1.3 Research objectives
1.4 Research Questions
1.5 Research Hypothesis
1.6 Significance of Study
1.7scope of the Study
1.8 Limitation of The Study
1.9 The Operational Definition of Terms.
CHAPTER TWO
Literature Review
2.0 Overview of The Nigerian Tax System
2.1 Nature and Definition Of Taxation
2.1.2 Functions of Taxation
2.1.3 Effects of Taxation
2.2 Nigeria Tax Laws
2.4 Company Income Tax Administration In Nigeria
2.4.1 The Minister Of Finance
2.4.2 Federal Board Of Inland Revenue Services (Fbirs)
2.4.3 The Genesis Of Federal Inland Revenue Services
2.4.4 Composition Of The Federal Board Of Inland
2.4.5 Functions Of The Federal Board Of Inland Revenue
2.4.6 Power Of The Board
2.4.8 The Functions Of The Committee.
2.5 The Joint Tax Board
2.5.1 Composition Of The Joint Tax Board
2.5.2 Functions Of The Tax Board
2.6 The State Board Of Internal Revenue.
2.6.2 Local Government Revenue Committee
2.6.3 Composition Of Lgrc.
2.7 Imposition Of Company Income Tax
2.7.1 Taxable/Chargeable Profits
2.7.2 Exemption
2.7.4 Collection Process And Procedurescollection
2.7.5 Companies Inocome Tax Rates
2.8.1 Period For Filing Of Returns
2.8.2 Penalty For Late Submission Of Returns
2.8.3 Assessment Of Income Tax
2.8.4 Provision Tax Assessment
2.8.5 Objection To Assessment
2.8.6 Penalty For Late Payment
2.9 Problems Of Company Income Tax Administration
CHAPTER THREE
Research Methodology
Introduction
3.1 Research Design
3.2 Source Of Data
3.3 Area Of The Study
3.4 Population Of The Study
3.5 Sample Size And Technique: The Selected Members Of The
3.6 Validity Of Instrument
3.7 Reliability Of Instruments
3.7 Methods Of Data Collection
CHAPTER FOUR
Data Presentation, Analysis and Discussion
4.1 Presentation Of Data
4.2.1 Test Of Hypothesis One
CHAPTER FIVE
Summary, Conclusion and Recommendations.
5.1 Summary
5.2 Conclusion
5.3 Recommendations
Research Questionnaire
Instructions