The Impact of Regulatory Audits on Tax Compliance in Nigeria: A Case Study of Lagos State Internal Revenue Service (LIRS)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Tax compliance is essential for generating government revenue and fostering economic development. Regulatory audits, conducted by tax authorities such as the Lagos State Internal Revenue Service (LIRS), are designed to ensure that individuals and businesses comply with tax laws and fulfill their obligations. These audits assess tax filings, detect fraud, and enforce compliance measures, ultimately contributing to increased revenue collection (OECD, 2023).
In Lagos State, Nigeria’s commercial hub, tax compliance remains a challenge due to issues such as inadequate record-keeping, tax evasion, and limited public awareness. This study examines the impact of regulatory audits on improving tax compliance, focusing on LIRS as a case study.
Statement of the Problem
Despite the efforts of LIRS, tax compliance in Lagos State remains low, with significant revenue losses attributed to tax evasion and fraud. Challenges such as resource constraints, inadequate technology, and resistance from taxpayers undermine the effectiveness of regulatory audits.
This study investigates the impact of regulatory audits on tax compliance in Lagos State, highlighting their role in addressing these challenges and recommending strategies for improvement.
Objectives of the Study
-
To assess the impact of regulatory audits on tax compliance in Lagos State.
-
To identify challenges affecting the effectiveness of regulatory audits by LIRS.
-
To recommend strategies for improving tax compliance through enhanced audit practices.
Research Questions
-
How do regulatory audits impact tax compliance in Lagos State?
-
What challenges affect the effectiveness of regulatory audits conducted by LIRS?
-
What strategies can improve tax compliance through enhanced audit practices?
Research Hypotheses
-
H₁: Regulatory audits significantly improve tax compliance in Lagos State.
-
H₂: Challenges such as inadequate resources reduce the effectiveness of regulatory audits by LIRS.
-
H₃: Enhanced regulatory audit practices lead to better tax compliance in Lagos State.
Scope and Limitations of the Study
The study focuses on LIRS, analyzing the impact of regulatory audits on tax compliance between 2023 and 2025. Limitations include reliance on secondary data and the variability of taxpayer behavior.
Definitions of Terms
-
Regulatory Audits: Reviews conducted by tax authorities to ensure compliance with tax laws and regulations.
-
Tax Compliance: The extent to which taxpayers meet their tax obligations as required by law.
-
Lagos State Internal Revenue Service (LIRS): The agency responsible for tax administration in Lagos State.
Related Project Materials
The impact of gas flaring on human health in Yenagoa Local Government Area, Bayelsa State
Background of the study
Gas flaring, a by-product of oil exploration, has become a major environmental con...
An Evaluation of Digital Communication on Nigerian Syntax: A Comparative Analysis of Facebook Comments and Twitter Threads
Background of the study
Digital communication platforms have reshaped traditional syntax by introducing new forms of textua...
INFLUENCE OF EDUCATIONAL RESOURCES AND UTILIZATION ON STUDENTS’ ACADEMIC PERFORMANCE IN PUBLIC AND PRIVATE SECONDARY SCHOOLS
Abstract
This study set out to examine the influence of Educational resources provision, and utilization on students’ academic perf...
EFFECT OF PROPER RECORDS MANAGEMENT ON WORKERS PRODUCTIVITY
Background Of The Study
Public and Private organizations needs information to function properly and ade...
INFLUENCE OF FAMILY –TYPE AND JUVENILE DELINQUENCY ON ADOLESCENT’S INVOLVEMENT IN PREMARITAL SEX
ABSTRACT
The study examined Influence of family –type and juvenile delinquency o...
An investigation of the role of digital assessment tools in improving students’ performance in Gusau East LGA, Zamfara State
Background of the Study :
Digital assessment tools have increasingly become integral components of modern educational syste...
The Effect of Rising Prices on Consumer Behavior in Nigeria
Background of the Study
The phenomenon of rising prices, commonly associated with inflation, has emerged as a critical det...
An Assessment of the Role of Nurses in Flood Disaster Response at Federal Medical Centre, Gombe
Background of the Study
Floods are among the most common natural disasters, often leading to significant health crises...
The impact of informal education on secondary school students’ engagement in agriculture in Katagum Local Government Area, Bauchi State
Background of the study
In recent years, informal education has emerged as a pivotal mechanism for enhancing practical kno...
CRITICAL APPRAISAL OF COURT MARTIAL CASES AT APPELLATE COURTS IN NIGERIA 1990- 2014
ABSTRACT
Court martial is a major aspect of administration of military justice. In Nigeria, courts martial set up by the Army, Navy and A...
