Effect of Tax Planning on the Firm Growth of Listed Deposit Money Banks (DMBS) in Nigeria

Abstract

The study examined how tax planning affects firm growth in Nigerian Deposit Money Banks that were publicly listed on the Nigeria Exchange Group (NGX). Ex-post facto design was employed in this investigation. The population for this study is drawn from Nigerian Deposit Money Banks over ten years (2015-2025). Seven Deposit Money Banks in Nigeria were selected using simple and stratified sampling approaches.  With the help of E-View 10.0 version, the hypothesis was tested using Ordinary Least Square. The findings revealed that effective tax rate has no sequential impact on the performance of Nigerian Deposit Money Banks, while firm size has a positive significant effect on the performance of Deposit Money Banks in Nigeria. The following recommendation is based on the findings: Nigeria businesses should hire tax experts/advisers to manage their tax computations and remittances. The study concludes that there is an urgent need for all the businesses in Nigeria to explore the services of tax auditor, to assist in auditing their financial activities more especially where it concerns taxation.