Taxation as a Tool for Reducing Income Inequality in Ikara LGA
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- NGN 5000
Background of the Study
Income inequality remains a significant issue in many local governments, including Ikara LGA, where a sizable portion of the population lives below the poverty line. Taxation, particularly progressive taxes, has long been proposed as a tool for redistributing wealth and reducing income inequality. This study aims to investigate how taxation can serve as an effective tool for reducing income inequality in Ikara LGA, examining the types of taxes implemented, their progressivity, and their impact on the wealth distribution in the region.
Statement of the Problem
Income inequality in Ikara LGA is persistent, with a wide gap between the wealthy and the disadvantaged. Despite the potential of tax policies to mitigate this disparity, there is limited research on how tax systems in the region can effectively address income inequality. This study will explore how local taxation strategies can reduce income inequality in Ikara LGA and assess whether current tax policies are achieving this goal.
Aim and Objectives of the Study
Aim: To explore how taxation can be used as a tool for reducing income inequality in Ikara LGA.
Objectives:
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To assess the impact of existing tax policies on income redistribution in Ikara LGA.
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To evaluate the effectiveness of progressive taxation in reducing income inequality in Ikara LGA.
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To recommend tax reforms that can further reduce income inequality in Ikara LGA.
Research Questions
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How effective are existing tax policies in reducing income inequality in Ikara LGA?
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What role does progressive taxation play in addressing income inequality in Ikara LGA?
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What tax reforms can be implemented to further reduce income inequality in Ikara LGA?
Research Hypothesis
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H₀: Existing tax policies in Ikara LGA do not significantly reduce income inequality.
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H₀: Progressive taxation does not significantly impact income inequality in Ikara LGA.
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H₀: Proposed tax reforms will not significantly reduce income inequality in Ikara LGA.
Significance of the Study
This study will contribute to the understanding of how taxation can be a tool for addressing income inequality in Ikara LGA. The findings will be valuable for policymakers in designing more effective tax policies aimed at wealth redistribution and poverty reduction.
Scope and Limitation of the Study
The study will focus on the role of taxation in reducing income inequality in Ikara LGA, examining both current policies and potential reforms. Limitations include potential challenges in obtaining accurate income data from individuals and businesses in the region.
Definition of Terms
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Income Inequality: The unequal distribution of income and wealth within a society.
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Progressive Taxation: A tax system in which the tax rate increases as the income of the taxpayer increases.
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Tax Reform: The process of changing tax policies or structures to achieve specific economic or social goals.
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