ABSTRACT
It is not news that assets especially those in the form of real estate provide the best forms of investment. This is obviously because of the fact that investments in real estate provide a hedge against inflation. Owing to the fact that real estate assets increase in value against all odds as time passes, people of all classes flock to the real estate market for investment. The government is not left out as they enact laws to levy taxes on investments in real estate. One of these taxes is capital gains tax. This is primarily a tax on a disposal of assets especially real estate assets. Unfortunately, the administration of capital gains tax is fraught with hiccups, absurdities and abnormally. The main objective of this study is to assess capital gain tax and economic growth in Nigeria between 1995 and 2016. The study relied on secondary data from CBN statistical bulletin which was analysed at 0. 05 level of significance using Ordinary Least Square (OLS) multiple regression analysis. The analysis was computer using SPSS version 20.0 and the findings of the study reveal that there is a positive and insignificant relationship between capital gain tax and economic growth in Nigeria and the study concluded that capital gain tax has impact on Nigerian economic development within the years under review. The study recommended the employment and retaining of tax experts and real estate appraisers especially in a private sector driven economy that most states of the federation of Nigeria are striving for .
TABLE OF CONTENTS
Tittle Page 1
Declaration 11
Certification 111
Dedication lV
Acknowledgements v
Table of Contents Vl
List of Tables IX
Abstract x
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study 1
1.2 Statement of the Problems 7
1.3 Objectives of the Study 9
1.4 Research Questions 10
1.5 Research Hypotheses 10
1.6 Significance of Study 10
1.7 Scope of the Study 11
1.8 Limitation of Study 11
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.0 Introduction 13
2.1 Conceptual Framework 13
2.1.1 The concept of Tax 13
2.1.2 Capital Gains/Capital Gains Tax 17
2.1.3 Features of a Good Tax System 18
2.1.4 Capital Gain Tax 19
2.1.4.1 Chargeable Assets 21
2.1.4.2 Disposal to a Connected Person 21
2.1.5 Rate of Tax and Exemptions from Capital Gains Tax 22
2.1.6 Capital Gains Tax Administration and Application 24
2.1.7 Reasons for poor Performance of Capital Gain Tax in Nigeria 26
2.1.8 Need for Effective Capital Gain Tax Revenue in Nigeria 27
2.1.9 Challenges affecting the practice of Capital Gain Tax in Nigeria 28
2.2 Theoretical Framework 32
2.3 Empirical Review 34
CHAPTER THREE:RESEARCHMETHOD
3.0 Introduction 36
3.1 Research Design 36
3.2 Model Specification 36
3.3 Method of Data Analysis 37
3.4 Sources of Data 37
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1 Data Presentation
4.2 Analysis of the Data
4.3 Discussion of Results
4.4 Test of Hypotheses .40
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5 .1 Summary of Findings 42
5.2 Conclusion
5 .3 Recommendations 43
References
CHILEKE CHINAZA, M (2020). Assessment Of Capital Gains Tax On Economic Growth In Nigeria (1995 - 2016). Mouau.afribary.org: Retrieved Oct 30, 2024, from https://repository.mouau.edu.ng/work/view/assessment-of-capital-gains-tax-on-economic-growth-in-nigeria-1995-2016
MOUAU/ACC/14/23470, CHILEKE CHINAZA. "Assessment Of Capital Gains Tax On Economic Growth In Nigeria (1995 - 2016)" Mouau.afribary.org. Mouau.afribary.org, 05 Jun. 2020, https://repository.mouau.edu.ng/work/view/assessment-of-capital-gains-tax-on-economic-growth-in-nigeria-1995-2016. Accessed 30 Oct. 2024.
MOUAU/ACC/14/23470, CHILEKE CHINAZA. "Assessment Of Capital Gains Tax On Economic Growth In Nigeria (1995 - 2016)". Mouau.afribary.org, Mouau.afribary.org, 05 Jun. 2020. Web. 30 Oct. 2024. < https://repository.mouau.edu.ng/work/view/assessment-of-capital-gains-tax-on-economic-growth-in-nigeria-1995-2016 >.
MOUAU/ACC/14/23470, CHILEKE CHINAZA. "Assessment Of Capital Gains Tax On Economic Growth In Nigeria (1995 - 2016)" Mouau.afribary.org (2020). Accessed 30 Oct. 2024. https://repository.mouau.edu.ng/work/view/assessment-of-capital-gains-tax-on-economic-growth-in-nigeria-1995-2016