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 1138. 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, modem computers, vehicles for transportation and other necessarily
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 (Tile 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-tile-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 (Tile Case Study Of Federal Board Of Inland Revenue Rivers State)" Mouau.afribary.org. Mouau.afribary.org, 13 Jul. 2021, https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-problems-and-prospects-of-company-income-tax-administration-in-nigeria-tile-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 (Tile Case Study Of Federal Board Of Inland Revenue Rivers State)". Mouau.afribary.org, Mouau.afribary.org, 13 Jul. 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-tile-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 (Tile 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-tile-case-study-of-federal-board-of-inland-revenue-rivers-state-7-2