Effects of Tax Evasion and Avoidance on Oyo State’s Internally Generated Revenue
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 12
Abstract
Tax evasion and avoidance are both phenomena that are probably as old as taxation itself. Literature revealed that tax avoidance and evasion represent some of the perplexing problems facing the Nigerian economy. The study adopts a quantitative research design, employing a standardized questionnaire as the primary research instrument. The study population comprises personnel from the Oyo State Internal Revenue Service. The findings revealed a significant positive relationship between tax evasion and IGR, indicating that tax evasion negatively impacts revenue generation. Similarly, tax avoidance is found to have a significant negative relationship with IGR, implying its detrimental effect on revenue. The study concluded that resistance towards tax obligations leads to the disturbance of the government's essential services, such as health services, education, sanitation, transportation, and infrastructure. The study recommends that urgent steps should be taken by public office holders to live up to expectation when it comes to transparency, accountability and the war against corruption.
Authors and Affiliations
Ayotunde Kikelomo ONIGBINDE, Godwin Emmanuel OYEDOKUN
Keywords
Related Articles
- EP ID EP729656
- DOI 10.47191/jefms/v6-i12-23
- Views 48
- Downloads 0
Socio-Economic Challenges Affecting Construction Women Labourers (WCLs) in The Nigerian Construction Sector (NCS)
Women constitute about half of the population of Nigeria and thus a critical mass in the human capital of the country. They make significant contributions to social and economic development of the society, yet they are n...
E-Wallet Usage Intention through Technology Acceptance Model and Technology Readiness in Indonesia
Digital transformation plays an important role in affecting consumer behavior in society. One of the changes that have occurred in society can be seen in the way people buy and pay for products using e-wallets. This phen...
Antecedents and Consequences of Audit Delay (Study on Mining Companies Listed on the Indonesia Stock Exchange for the Period 2017-2020)
The announcement issued by the Indonesia Stock Exchange on April 11, 2018, regarding the submission of audited financial statements ending December 31, 2017, that there are 70 listed companies have not submitted their fi...
Work-Life Balance and the Environment in Job Satisfaction of Healthcare Personnel
The study was conducted due to the need to determine and analyze the size of the influence of work-life balance and the environment on the job satisfaction of health professionals at a community health center in the Pasa...
Employees' Perception of the Contributory Pension Scheme (CPS) and Its Implementation Effect in Malawi’s Shire Highlands Education Division.
There have been dynamics in the pension systems globally which have witnessed various countries embracing the pension reforms within their Pension Scheme arrangements in respective jurisdictions. This evolution compelled...