Project Abstract

Abstract
The research project focuses on compiling bibliographic abstracts and indexing bibliographic information related to taxation in Nigeria. Taxation is a critical aspect of a country's economic system, playing a significant role in revenue generation, wealth distribution, and economic development. Nigeria, as a developing country, relies heavily on taxation to fund public services and infrastructure projects. This research aims to provide a comprehensive compilation of bibliographic abstracts that cover various aspects of taxation in Nigeria, including tax laws, policies, administration, compliance issues, challenges, and potential reforms. The project involves thorough research and analysis of existing literature, including academic journals, government publications, research reports, and other relevant sources. By compiling bibliographic abstracts, this research will create a valuable resource for scholars, policymakers, tax professionals, and other stakeholders interested in understanding the Nigerian tax system. The indexed bibliographic information will enable easy access to key publications on taxation in Nigeria, facilitating further research and analysis in this field. The compilation of bibliographic abstracts will cover a wide range of topics related to taxation in Nigeria, such as the impact of tax policies on economic growth, tax evasion and avoidance, taxation of specific industries, tax incentives, and the effectiveness of tax administration. By organizing and indexing this information, researchers and practitioners can quickly identify relevant literature and stay updated on the latest developments in Nigerian taxation. Furthermore, this research project will contribute to the existing body of knowledge on taxation in Nigeria by synthesizing information from diverse sources and presenting it in a structured and accessible format. The compilation of bibliographic abstracts will highlight key findings, trends, and debates in the field of Nigerian taxation, shedding light on areas that require further research and policy attention. In conclusion, the compilation of bibliographic abstracts and indexing of bibliographic information on taxation in Nigeria will serve as a valuable resource for academics, policymakers, tax professionals, and other stakeholders interested in understanding and analyzing the Nigerian tax system. By providing a comprehensive overview of existing literature, this research project aims to facilitate informed decision-making, promote further research, and contribute to the ongoing discourse on taxation in Nigeria.

Project Overview

INTRODUCTION

This complication dealt with taxation as a subject, its principles objectives, classes, purpose and effect in any given economy weather.

Taxation is a compulsory but non-punitive levy on properties, income of individual and co-operation bodies. The money raised there constitutes part of source of finance for general government expenditure in the economy. It involves transfer of resources or income from private sector to the public sector in order to accomplish or achieve some of the major economic social and economic responsibilities under taken by the government.

Taxation according to the encyclopedia is the process by which the people pay for the expenses of the government.

System of taxation taxes are classified as progressive proportional or regressive according to the percentage of income they take as income raises or fails.

a.          Progressive Tax System: Under the progressive taxation, the higher the proportion of income, which is taken away as tax and lower the income, the proportion of income taken away an increasing proportion of raises.

b.          Proportional Tax System: This system whereby the rate of taxation is the small for all human earners.

c.           Regressive Tax System: The higher the income the lower the percentage income which is taken away as tax. Regressive taxation s common where the rich and poor have to pay some amount of money as tax, either directly as poll tax indirectly in the form of higher prices. A goods and services consumed by both the rich and the poor. In west Africa most taxes are regressive since people in the various communities are usually asked to pay certain fixed sum of money toward certain development project. Irrespective of income and also since indirect taxes like import and export duties from a greater proportion of government revenues.

SOME ECONOMIC EFFECTS OF TAXATION

1.          A deterrent to work: Heavy direct taxation especially when closely linked to current earnings can act as a serious check to production by encouraging absenteeism and making men disinclined to work overtime. However direct taxation may actually increased to incentive to work in order to earn more money as to buy goods which the indirect taxes have made clearer.

2.          A deterrent to Savings: Taxation will clearly reduce people’s ability to save, since it leaves them with less money as their disposal. Taxation may therefore act as deterrent to savings.

3.          A deterrent to enterprise: Those who regard profit as a round for enterprise condemn tax on profit because they consider that such taxes checks enterprise. It is argued that the business men will embark on large profit if they are successful. Heavy taxation on profit, it is said, robs them of their possible reward without providing compensation on the case of failure.

4.          Taxation may encourage inflation: We have already seen that one of the methods used to fight inflation is to budget for a large surplus, the object being to reduce by increased taxation the amount of purchasing power in the hands of consumers, with full employment however increased indirect taxation will lead to demand for higher wages, thereby encouraging inflation.

5.          Diversion of Economics: Taxation of commodities may force produce to direct resources into tax free areas irrespective of the people’s wish.