The Impact of Regulatory Audits on Tax Compliance in Nigeria: A Case Study of Lagos State Internal Revenue Service (LIRS)
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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
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To assess the impact of regulatory audits on tax compliance in Lagos State.
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To identify challenges affecting the effectiveness of regulatory audits by LIRS.
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To recommend strategies for improving tax compliance through enhanced audit practices.
Research Questions
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How do regulatory audits impact tax compliance in Lagos State?
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What challenges affect the effectiveness of regulatory audits conducted by LIRS?
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What strategies can improve tax compliance through enhanced audit practices?
Research Hypotheses
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H₁: Regulatory audits significantly improve tax compliance in Lagos State.
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H₂: Challenges such as inadequate resources reduce the effectiveness of regulatory audits by LIRS.
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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
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Regulatory Audits: Reviews conducted by tax authorities to ensure compliance with tax laws and regulations.
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Tax Compliance: The extent to which taxpayers meet their tax obligations as required by law.
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Lagos State Internal Revenue Service (LIRS): The agency responsible for tax administration in Lagos State.
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