The effect of e-taxation on Government revenue in Nigeria
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1.1 Background Of The Study
With oil prices plummeting in recent years and less funding available to the government, it is clear that Nigeria’s oil revenues are no longer able to fully support its development goals. Governments therefore need to generate revenue internally to fund public spending. This need underscores the government’s eagerness to explore new sources of income or to be proactive and innovative in collecting revenue from existing sources. One of these existing sources is taxation. To help the government achieve better tax collection, the government needs to introduce better and more convenient tax collection methods for citizens. It’s electronic taxation. Taxation is seen as a means of generating revenue for governments to provide basic amenities to their citizens (Okauru, 2014). Global taxation is a function of reciprocity (Okauru, 2014). Governments are responsible for empowering citizens through the provision of jobs, infrastructure and other development projects, but in return citizens are usually expected to meet their obligations, such as paying taxes ( Okauru, 2014). Municipal tax revenues are typically reused by the government in providing basic utilities such as water, roads, electricity and schools (Okauru, 2014).
The reality on the ground in Nigeria is that governments at all levels will need to step up their efforts by launching aggressive tax attacks, given the diminishing income profile resulting from falling oil prices. Therefore, Nigerians must accept the current reality. Taxes come in many forms such as direct personal tax, indirect tax, income tax, value added tax and corporate tax. Governments should introduce aggressive taxation to close the revenue gap. It is the most recognized and valid means of generating revenue for social services around the world. Vanguard on December 15, 2015 states that from March 2015 to June he has value added tax (VAT) income of around N376 billion, but this figure shows that from July he It doubled through December.
The reason for this lies in the federal government’s efforts to diversify the country’s income sources. With mandatory tax laws and enforcement, there is no doubt that Nigeria will be able to withstand the test of uncertainty in the global oil market. This means more income will be available to the government to meet the needs of Nigerian citizens. This is the perfect time for Nigerians to welcome the tax regime with open arms. This allows Nigerians to participate in a defined contribution social contract by paying regular taxes, knowing that the government does its job by not looting or embezzling taxpayer money.
It is no longer news that Nigeria has finally lost its status as a major oil supplier to the United States. Therefore, you should embrace income diversification. Income diversification can be achieved through taxation as an alternative means of generating income and can withstand declining income. from oil. However, it is necessary to harmonize the tax system and ensure cooperation between state tax authorities and professional tax authorities and consultants. The credibility of the institutional framework for tax treatment and enforcement must be ensured
1.3 Research question
This survey is being conducted to answer the following questions:
- What is the impact of E-Tax on government revenue in Nigeria?
- What measures is the government taking to ensure effective and prompt electronic tax payments by Nigerian taxpayers?
- What are the challenges facing the Nigerian tax system?
1.4 Purpose of the survey
This research has both general and specific objectives. The overall or main objective of this study is to examine the impact of E-Tax on Nigerian government revenues, focusing on a before and after analysis of taxation in Nigeria. The specific objectives are:
- To examine the effects of e-taxation on government revenue in Nigeria
- To identify the measures taken by the government to ensure effective and prompt e-tax payment by tax payer in Nigeria
- To investigate the challenges facing taxation systems in Nigeria
1.5 Research Hypothesis
The followings are the research hypotheses to be tested in this study:
- There is a significant relationship between e-tax payment and government generated revenue
- There is no significant correlation between e-taxation and acceptance of the method by the citizens
1.6 Significance of Study
The results from this study will educate the stakeholders vested with the management of Nigeria’s economy and the general public on how huge revenue capable of replacing oil revenue can be generated through taxation and its effect on national development. Findings from this study will also educate the government of Nigeria and the general public on the effectiveness of the institutional framework saddled with the responsibility of collection and enforcement of tax duties. This research will be a contribution to the body of literature in the area economy, accounting and public administration thereby constituting the empirical literature for future research in the subject area.
1.7 Scope and Limitation of the Study
This study will cover the process of e-taxation in Nigeria. It will as well cover the activities of the tax collection and enforcement officers. 1.8 Limitations of the study
The main limitations of this study are:
There is a cost cap. This means that researchers do not offer any gifts or financial incentives to respondents to complete the survey. This may cause certain potential respondents to choose not to respond to the researcher. Time limit:
There are two types of time constraints he encounters while studying. This study will be conducted over 4 weeks. Therefore, the results reflect the impact of time constraints. Respondent insights will be monitored throughout the study period. Large studies conducted over a long period of time or over a specified period of time. With more issues, respondents’ insights span a longer period of time, allowing for deeper research.
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