Effect Of Corporate Income Tax On The Performance Of Selected Banks In Nigeria (Zenith, Diamond, Guaranty Trust And Union Banks)
ABSTRACT
The study investigated effect of corporate income tax on the performance of selected banks in Nigeria(study of Diamond Bank, GTBank, Zenith Bank and Union Bank). It utilized secondary data from 2008-2017 extracted from Annual reports and Financial statements of the four selected Banks. It adopted expost facto research design because the data are already in existence and linear regression technique was engaged to determine the relationship between variables.The regression result established that Company Income Tax(CIT) that has significant and negative effect on profit after tax. We also found that corporate income tax also exhibits indirect and non-significant effect on return on assets of selected banks. Similarly, the analysis of the third hypothesis reveals that corporate income tax yielded a negative and non-significant effect on returns on equity of money deposit banks in Nigeria.The study therefore recommends that Companies should file and remit their taxes as at when due to enjoy the advantage of not having their activities interrupted by government agencies and also increase cost incurred with respect to company income taxes. Firms should comply with all relevant tax laws in the state in Order to escape litigations and costs of defending themselves in court over tax issues.
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NWOKENNE, 0 (2021). Effect Of Corporate Income Tax On The Performance Of Selected Banks In Nigeria (Zenith, Diamond, Guaranty Trust And Union Banks). Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-corporate-income-tax-on-the-performance-of-selected-banks-in-nigeria-zenith-diamond-guaranty-trust-and-union-banks-7-2
0, NWOKENNE. "Effect Of Corporate Income Tax On The Performance Of Selected Banks In Nigeria (Zenith, Diamond, Guaranty Trust And Union Banks)" Mouau.afribary.org. Mouau.afribary.org, 17 Feb. 2021, https://repository.mouau.edu.ng/work/view/effect-of-corporate-income-tax-on-the-performance-of-selected-banks-in-nigeria-zenith-diamond-guaranty-trust-and-union-banks-7-2. Accessed 24 Nov. 2024.
0, NWOKENNE. "Effect Of Corporate Income Tax On The Performance Of Selected Banks In Nigeria (Zenith, Diamond, Guaranty Trust And Union Banks)". Mouau.afribary.org, Mouau.afribary.org, 17 Feb. 2021. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-corporate-income-tax-on-the-performance-of-selected-banks-in-nigeria-zenith-diamond-guaranty-trust-and-union-banks-7-2 >.
0, NWOKENNE. "Effect Of Corporate Income Tax On The Performance Of Selected Banks In Nigeria (Zenith, Diamond, Guaranty Trust And Union Banks)" Mouau.afribary.org (2021). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-corporate-income-tax-on-the-performance-of-selected-banks-in-nigeria-zenith-diamond-guaranty-trust-and-union-banks-7-2