1.1 INTRODUCATION:
Generation of tax revenue from the private sector, especially from the self-employed people has always posed a problem. Millions of Naira has been lost due to prevalence of tax evasion and avoidance among the self-employed people. Consequently, taxation cannot be used as a major instrument for revenue generation and key to sustainable economic development, because this hinders the realization of fiscal objectives.
Every year billions of naira are lost because of tax evasion and avoidance by the self-employed people (Ndulu,2003). Both the federal and state government have applied various measures to solve this problem but to no avail the question is; why is tax evasion and avoidance prevalent among the self- employed persons?
REVIEW OF RELATED LITERATURE
2.0 MEANING OF TAXATION
Taxation is a compulsory levy impose on a subject or upon his property by the government to provide security, social amenities and other public goods for the well-being of the society (Ican Study pack 2009). The main purpose of taxation is to raise fund to defray the expenses incurred for the common interest of the country without reference to special benefit conferred. A good tax system therefore, will generate revenue for the government, help in shaping and directing economic activities, redistribute financial resources and using the income generated to finance social welfare.
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2014, 12). The Nature And Extent Of The Threat Posed By Personal Income Tax Generation To The Socio-economic Development Of The Nation.. ProjectStoc.com. Retrieved 12, 2014, from https://projectstoc.com/read/5943/the-nature-and-extent-of-the-threat-posed-by-personal-income-tax-generation-to-the-socio-economic-development-of-the-nation-4068
"The Nature And Extent Of The Threat Posed By Personal Income Tax Generation To The Socio-economic Development Of The Nation." ProjectStoc.com. 12 2014. 2014. 12 2014 <https://projectstoc.com/read/5943/the-nature-and-extent-of-the-threat-posed-by-personal-income-tax-generation-to-the-socio-economic-development-of-the-nation-4068>.
"The Nature And Extent Of The Threat Posed By Personal Income Tax Generation To The Socio-economic Development Of The Nation.." ProjectStoc.com. ProjectStoc.com, 12 2014. Web. 12 2014. <https://projectstoc.com/read/5943/the-nature-and-extent-of-the-threat-posed-by-personal-income-tax-generation-to-the-socio-economic-development-of-the-nation-4068>.
"The Nature And Extent Of The Threat Posed By Personal Income Tax Generation To The Socio-economic Development Of The Nation.." ProjectStoc.com. 12, 2014. Accessed 12, 2014. https://projectstoc.com/read/5943/the-nature-and-extent-of-the-threat-posed-by-personal-income-tax-generation-to-the-socio-economic-development-of-the-nation-4068.
- Related Works
- Accounting For Fixed Asserts (a Case Study Of Coca-coca Bottling Company Plc 9th Mile Corner)
- The Application Of Accounting Principles In Some Selected Insurance Companies
- Improper Accounting System Contributes To Non-performance Of Government Owned Companies
- Accounting System In An Oil Industry (a Case Study Of Shell Petroleum Development Company
- Inventory Control And Management In A Manufacturing Firm
- The Role Of An Accountant In The Poverty Alleviation Programme Of The Federal Government (a Case Study Of Enugu North Local Government Area).
- Impacts Of Capital Management On The Productivity Of Nigeria Companies (a Case Study Of Seven Up Bottling Company, Aba.
- The Auditor As An Indispensable Part Of A Profitable Business Organization (a Case Study Of Auditing Practice Committee
- Conflict Resolution As A Tool For Effective Management In Sona System Association Business Management Limited (ssabml)
- Improvement Of Accounting System In Government Owned Company