THE IMPACT OF TAX REVENUES ON ECONOMIC GROWTH: A TIME SERIOUS EVIDENCE FROM KENYA
Journal Title: Academic Research International - Year 2018, Vol 9, Issue 3
Abstract
The study examines the effect of tax revenue and economic growth of Kenya, from 1980 to 2007. In order to attain this objective, relevant time-series secondary data were collected from the Central Bank of Kenya (CBN) Statistical Statement, Federal Inland Revenue Service (FIRS) and previous works done by scholars. The collected data was analyzed using the ordinary least square method. The results display that tax revenue has a positive significant effect on economic growth. That is, it highpoints the channels through which tax revenue impacts and economic growth in Kenya. The study also tells that grants and other revenues has no a negative result on growth. However, tax revenues can only appear its full potential on the economy if government can come up with fiscal laws and legislations and support the existing ones in line with macroeconomic objectives, which will check-mate tax offenders in order to minimize evasion, corruption, and tax avoidance. These will get about improvement on the tax management and responsibility and transparency of government officials in the management of tax revenue. Above all, these will increase the tax revenue base with resulting increase in growth.
Authors and Affiliations
Ali Abdulkadir Ali, Mohamed Saney Dalmar
Keywords
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