A CRITICAL ANALYSIS OF TAX SECTOR REFORMS IN NIGERIA FROM 1978-2012

A CRITICAL ANALYSIS OF PRESIDENTIAL POWERS UNDER THE 1999 NIGERIAN CONSTITUTION
August 15, 2017
A CRITICAL ANALYSIS OF THE POWERS OF THE TAX APPEAL TRIBUNAL UNDER THE FEDERAL INLAND REVENUE SERVICE ACT, 2007 IN THE SETTLEMENT OF TAX DISPUTES IN NIGERIA.
August 15, 2017
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ABSTRACT


Taxation remains a veritable instrument for national development. Apart from
being a major source of revenue for the government, taxation provides goods and
services needed by citizens. Taxation policies can stimulate economic growth and
job creation through its impact on investment and capital formulation in the
economy. In this respect reforms in the tax system that ensure effectiveness, equity
and efficiency are conditions for healthy public revenue. The decision to reform the
Nigerian tax system is crucial in order to improve the revenue base for national
development and attaining socio-economic goals for taxation. The thesis which
adopts the doctrinal approach examines the process that led to the current tax
reforms under the Federal Inland Revenue Service (Establishment) Act, 2007 and
the reforms initiated by the Act; the impact of the tax reforms under the Act on tax
administration at the federal level; and the gap and challenges faced in the
implementation of the reforms. The findings of the research are that the reforms in
the FIRS have resulted in a review of tax laws, reduced the delay in policy
initiations and implementation, creation of a customer friendly tax environment,
improvement in staff training and welfare, greater accessibility, review of
procedures and processes as well as utilization of information communication
technologies. These have positioned the FIRS as a modern and efficient tax
administrative agency and have redefined the role of taxation as an important
means of generating revenue from non oil revenue sources. The research examines
some of the challenges which include persisting cases of corrupt tax officials,
centralization of tax administrative agency and the conflicts between the FIRS
(Establishment) Act, 2007 and Company Income Tax Act 2011. The self assessment
regime which in the past did not function properly, has under the last reforms
gained ascendance as the major mode of tax assessment and the uncertainty that
hitherto characterized the process has been resolved to a large extent by the FIRS
(Self Assessment) Regulation 2011, by setting out processes, procedure and
providing standard guidelines for the implementation of the established Self
Assessment Regime in support of an efficient tax administration system in Nigeria.

 
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