ANALYSIS OF TAX INCOME ON REVENUE GENERATION IN NIGERIA

Abstract

This study investigated the effect of tax revenue on revenue generation in Nigeria for the period of 1985- 2015, with the purpose of finding effect of the various tax revenue represented by Petroleum Profit Tax, Company Income Tax and Customs and Excise Duties taxes had impacted on revenue generation in Nigeria for the period of the study. The data which are secondary in nature were analysed using Simple Regression Analysis for the three research questions and three hypotheses in the study. The findings reveal that, Petroleum income tax have significant relationship on revenue generation in Nigeria, while company income tax and customs and excise duties does not have significant relationship on revenue generation in Nigeria. The study therefore recommends amongst others that, government should enhance policy measures that will help to improve on marketing of petroleum income tax so as to sustain and improve on the successes recorded in the collection. Measures should also be taken to ensure that proper assessment is carried out on tax administration in companies so as to ascertain the actual tax that ought to be payable by companies in the country and also government should try to improve on management of customs and excise duties so as to allow importers and exporters go through proper process of importation and exportation in the country.