ABSTRACT
Taxation is an important source of government revenue in
Nigeria and in a bid to strengthen and broaden her revenue bases, the federal
government has directed all the state government in the federation to explore
other avenues of revenue generation to meet the demand for fund from different
government departments and parastatals. Accordingly, Abia state government is
no doubtful that if all taxable assets and gains are brought into the state's
tax net, Capital GainsTax will contribute greatly to the financial viability of
the state. Therefore, a proper evaluation of assessment collection and
accounting system of Capital GainsTax is a necessary step towards the
realization of this goal. The objective of this study is to enhance the
effectiveness of capital gainstax assessment, collection and accounting system
throughout Abia state resulting in maximum annual capital gain tax yield and
ability of the government to develop the state. Abia zonal tax office was
chosen as a case study. A representative sample of 26 respondents was chosen
from a population of 40 employees. Primary data were collected from the
selected respondents. Properly designed sets of data gathering instrument were
used for the collection of the primary data. The following findings were, made
in the study: that the amount of capital gains tax is collected annually in
Abia state, the techniques of gathering information about the sources of
capital gain tax are not effective in Abia state, that the evaluation of
capital gains tax has negative effects on both the administration system and
total amount and tax clearance certificate and tax receipts are faked by touts
outside Tax office in the state. Based on the research findings the following
recommendations are made: A good tax man, must be knowledgeable enough to meet
the requirements of this office as well as understanding the economic
environment he operates in. Therefore, there is the need for constant staff
training and retraining to ensure proper development of staff. Employment of
qualified accountants, auditors and personnel managers should be encouraged.
Finally, the general should be properly enlightened on the need for voluntary tax
compliance, while the government should in turn utilize the tax money properly
for the benefit of the citizens.
OFFOR, C (2021). The Impact Of Capital Gainstax On Gross Domestic Product In Nigeria. Mouau.afribary.org: Retrieved Nov 28, 2024, from https://repository.mouau.edu.ng/work/view/the-impact-of-capital-gainstax-on-gross-domestic-product-in-nigeria-7-2
CHUKWUDI, OFFOR. "The Impact Of Capital Gainstax On Gross Domestic Product In Nigeria" Mouau.afribary.org. Mouau.afribary.org, 07 Oct. 2021, https://repository.mouau.edu.ng/work/view/the-impact-of-capital-gainstax-on-gross-domestic-product-in-nigeria-7-2. Accessed 28 Nov. 2024.
CHUKWUDI, OFFOR. "The Impact Of Capital Gainstax On Gross Domestic Product In Nigeria". Mouau.afribary.org, Mouau.afribary.org, 07 Oct. 2021. Web. 28 Nov. 2024. < https://repository.mouau.edu.ng/work/view/the-impact-of-capital-gainstax-on-gross-domestic-product-in-nigeria-7-2 >.
CHUKWUDI, OFFOR. "The Impact Of Capital Gainstax On Gross Domestic Product In Nigeria" Mouau.afribary.org (2021). Accessed 28 Nov. 2024. https://repository.mouau.edu.ng/work/view/the-impact-of-capital-gainstax-on-gross-domestic-product-in-nigeria-7-2