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International Journal of Innovation and Research in Educational Sciences

Effect that Taxation has on Economy Development: Agencies Role

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Year:
2021
Type of Publication:
Article
Keywords:
Taxation, Agencies, Government, Categories of Tax, Tax payer
Authors:
  • Ajala, A.M.
  • Afolabi, A.
Journal:
IJIRES
Volume:
8
Number:
3
Pages:
159-167
Month:
May
ISSN:
2349-5219
BibTex:
Abstract:
This paper focuses on Taxation in the Nigerian economy; we analyzed the postulated hypotheses which dwelt on the relationship that exist between taxation and revenue generated by tax. The main objective of the study is to assess the effect that taxation has towards the development of Nigerian economy and two other specific objectives were stated for this paper. Questionnaires were used to get data from respondents. It was discovered that taxation has a positive relationship with the economy and development in Nigeria. The researcher then recommends a well defined policy for inter governmental collaboration, cooperation and coordination between different tiers and agencies of government, awareness on the tax payers on the role of taxation in the economy and development in Nigeria should be created. Efforts should also be made by the government to ensure they channel revenue from taxation towards economy activities that will benefit the tax payers.

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