ABSTRACT
Taxation is one of the major
instruments used in regulating the economy and raising revenue for the
government is a significant purpose of taxation. Corporate tax is the tax
imposed on the profits of companies, this work consider whether or not company
tax has a favourable impact on corporate earnings and company's growth in
Nigeria. On this basis two hypothesis were formulated and tested to ascertain
their validity or otherwise. The data for this research were collected only
from secondary sources. The data collected were analyzed using descriptive
statistics like tables and percentages and regression analysis. From the
analysis of the data, the following findings were made: Company income tax has
an inverse significant relationship with corporate earnings. There is a
significant relationship between company income tax and corporate earnings. The
rate of tax evasion and avoidance is high in Nigeria. The existing company
income tax rate is high. Company income tax contribution to federally collected
non-oil revenue is low. Based on the findings above, the researcher therefore
concluded that company income tax exert a significant effect on both corporate
earnings and corporate growth. That is to say an increase in company income tax
favours economic development while a decrease in company income tax favours
corporate earning and encourages saving and investment opportunities. However a
few recommendations were made based on the findings; government should device a
good mechanism for calculating and collecting tax from companies as at when due
to help eliminate or reduce tax avoidance and evasion rate. Government should
also ensure that revenue generated from company income tax and other forms of
tax is judiciously utilized so as to encourage tax payers, tax avoiders and tax
evaders. Government should also review existing company tax to enable existing
companies have a sound and adequate financial base in other to achieve their
set target and developmental objectives.
EZE, S (2021). The Impact Of Company Income Tax On Corporate Earnings In Nigeria (A Study Of Uacn Plc).. Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/the-impact-of-company-income-tax-on-corporate-earnings-in-nigeria-a-study-of-uacn-plc-7-2
SUCCESS, EZE. "The Impact Of Company Income Tax On Corporate Earnings In Nigeria (A Study Of Uacn Plc)." Mouau.afribary.org. Mouau.afribary.org, 01 Sep. 2021, https://repository.mouau.edu.ng/work/view/the-impact-of-company-income-tax-on-corporate-earnings-in-nigeria-a-study-of-uacn-plc-7-2. Accessed 01 Nov. 2024.
SUCCESS, EZE. "The Impact Of Company Income Tax On Corporate Earnings In Nigeria (A Study Of Uacn Plc).". Mouau.afribary.org, Mouau.afribary.org, 01 Sep. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/the-impact-of-company-income-tax-on-corporate-earnings-in-nigeria-a-study-of-uacn-plc-7-2 >.
SUCCESS, EZE. "The Impact Of Company Income Tax On Corporate Earnings In Nigeria (A Study Of Uacn Plc)." Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/the-impact-of-company-income-tax-on-corporate-earnings-in-nigeria-a-study-of-uacn-plc-7-2