EFFECT OF TAX EVASION AND AVOIDANCE ON NIGERIA ECONOMY

EFFECT OF TAX EVASION AND AVOIDANCE ON NIGERIA ECONOMY

EXCERPT FROM THE STUDY

The focal point of this study had been on the “Effect Of Tax Evasion and Avoidance on the Nigeria Economy”. The study has shown that the causes and effects are numerous.

The causes are group into benefit; receive factors, unpatriotic fact, administration and other factors. These factors involved manpower constraints, absence of reliable data, weak tax collection machinery, infrastructural inadequacies and many others. On the effect of tax evasion, we discovered that the effects are three fold, namely: On the Government, Community, and Tax Defaulters.

On the government, it reduce her revenue while it disrupts planned programme for communities as a result of inadequate fund and finally, it inflicts penalty and punishment on the tax defaulters when caught.

In the causes of this research, relevant literature were received, process and problem of revenue generation were also examined, also data collected were analyzed.

Having accomplished these contributory objectives, it has now become necessary to express on opinion on revenue generation in the state with particular reference to the effect and cause of tax evasion and avoidance on personal income tax board of internal revenue in Ogun State.

In concluding this study therefore, it should be mentioned based on the result of the study, revenue generation by the board is partially ineffective as a result of unfavorable variance exhibited in estimated and actual revenue generated by the board in some year. Tax administration must receive greater attention if the rate of personal income tax evasion in the state is to be reduced.

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