EFFECT OF TAXATION ON ECONOMIC GROWTH (2007-2017)

Ngwoke, Ogechukwu Maria (2019) EFFECT OF TAXATION ON ECONOMIC GROWTH (2007-2017). EFFECT OF TAXATION ON ECONOMIC GROWTH (2007-2017), 5 (4). pp. 68-82. ISSN ISSN (3466 – 7037);

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Abstract

This study seeks to evaluate the effect of taxation on economic growth (2007-2017). The specific objectives were to; evaluate the effect of petroleum profit tax on the real gross domestic product of Nigeria, examine the impact of company income tax on the real gross domestic product of Nigeria and determine the impact of custom and excise duty on the real gross domestic product of Nigeria. The study adopted ex-post facto. The study made use of secondary data obtained from the Central Bank of Nigeria Statistical Bulletins for the relevant years. The hypotheses were tested using unit root test and regression analysis statistical tool. The following findings were made for this study: Petroleum profit tax has significant effect on the gross domestic product of Nigeria. Company income tax has significant effect on the gross domestic product of Nigeria and Customs and excise duties have significant effect on the gross domestic product of Nigeria. The study concluded that; about 96% changes in the dependent variable are explained by the independent variable. This implies that the goodness of fit measured by the R2 is about 99%.The study recommend that given the dwindling fortunes of revenue from petroleum related sources, the government should embark on the strategic pursuit of broadening the economy to enhance economic growth and development as well as becoming meticulous in the fight against corruption in Nigeria as it is one of the factors that has led to diversion of public fund especially from petroleum profit tax. Keywords: Taxation, Economic Growth

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Depositing User: Miss Ogechukwu Ngwoke
Date Deposited: 22 May 2019 08:57
Last Modified: 22 May 2019 08:57
URI: http://eprints.gouni.edu.ng/id/eprint/1537

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