ABSTRACT

Taxation on the income of companies over the years has been limited against by so many factors, which have' caused a significant difference between the assessed tax revenue and f/me actual tax revenue collected. These studies is aimed at highlighting the importance and contribution of company income tax to the total federal revenue and also identify factors that pose as constraints to effective company income tax administration an proffer strategies to curb these problems. The research work made use of both primary and secondary data. These data were analyzed using the Pearson correlation, regression technique and descriptive analysis. The hypothesis was tested at a 95% confidence interval, degree of freedom was 9, using the T-test(2-tailed,The correlation analysis is at a 1% level of significance. The correlation analysis showed that there is a significant relationship between government revenue and economic development, also the regression analysis rejected the hypothesis that there is no significant relationship between assessed lax revenue and the actual tax collected. At the end of the research work, it was noted that company income tax would be one of the major sources of government revenue of effective strategies are put place. The researcher therefore recommended that the government strengthens its tax drive at all levels.