ABSTRACT
It has been observed that Company Income Tax Administration machinery
has been problematic resulting in low revenue generation from tax. This
research work was carried out to investigate the problems and prospects of
Company Income Tax Administration in Nigeria with particular reference to
Rivers state Federal Board of Inland Revenue, various literatures containing
information and studies in the area of Company Income Tax Administration was
reviewed with reference to the fact that the researcher used questionnaire,
interview and observation, and also relevant lecture notes, textbooks, etc.
Simple percentage was used in analyzing research questions and Chi-square in
testing hypothesis. The researcher put together the problems of Company Income
Tax Administration into three hypothesis which are tested using the data
obtained from responses from tax officials of the Board (Federal Board of
Inland Revenue), personal interviews were conducted, questionnaires were also
distributed and returned with answers. The population for this study embodies
the entire staff of Federal Inland Revenue Services (FiRS) Rivers state. As at
the time of this study, the population was Two hundred and twelve (212). The
sample size purposely used for this study is determined by the Taro Yamani's
Formula which was 138. Due to some limitations in this study the sample was
stratified to 50. It was found that efficient companies' income tax
administration in Nigeria enhances government revenue generation. And also,
that adequate tax laws enhances the administration of companies' income tax in
Nigeria. it was finally concluded that the system of company income tax
administration in Nigeria is inefficient. Recommendations made included that
tax revenue contribute to economic growth and stability and that the
administrative machinery and collection system is not very effectives.
Recommendations made also include reviews of the tax systems by professionals
such as; Accountants, Economists, staff motivation such as; timely payment of
salaries, promotion of workers and payment of gratuity at the retirement. and
the provisions of infrastructural facilities such as communication gadgets,
office materials, modern computers, vehicles for transportation and other
necessary equipment for a conducive working environment. Management information
system (MIS) should also be installed.
CHINENYEZE, C (2021). An Evaluation Of The Problems And Prospects Of Company Income Tax Administration In Nigeria (The Case Study Of Federal Board Of Inland Revenue Rivers State). Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-problems-and-prospects-of-company-income-tax-administration-in-nigeria-the-case-study-of-federal-board-of-inland-revenue-rivers-state-7-2
C, CHINENYEZE. "An Evaluation Of The Problems And Prospects Of Company Income Tax Administration In Nigeria (The Case Study Of Federal Board Of Inland Revenue Rivers State)" Mouau.afribary.org. Mouau.afribary.org, 15 Nov. 2021, https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-problems-and-prospects-of-company-income-tax-administration-in-nigeria-the-case-study-of-federal-board-of-inland-revenue-rivers-state-7-2. Accessed 01 Nov. 2024.
C, CHINENYEZE. "An Evaluation Of The Problems And Prospects Of Company Income Tax Administration In Nigeria (The Case Study Of Federal Board Of Inland Revenue Rivers State)". Mouau.afribary.org, Mouau.afribary.org, 15 Nov. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-problems-and-prospects-of-company-income-tax-administration-in-nigeria-the-case-study-of-federal-board-of-inland-revenue-rivers-state-7-2 >.
C, CHINENYEZE. "An Evaluation Of The Problems And Prospects Of Company Income Tax Administration In Nigeria (The Case Study Of Federal Board Of Inland Revenue Rivers State)" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-problems-and-prospects-of-company-income-tax-administration-in-nigeria-the-case-study-of-federal-board-of-inland-revenue-rivers-state-7-2