An Evaluation of the Impact of Tax Reforms on Economic Growth: A Study of Lagos State
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Background of the Study
Tax reforms play a crucial role in shaping the economic development of a region by providing governments with the resources needed to finance infrastructure, public services, and other developmental projects. In Lagos State, the introduction of various tax reforms, including the Land Use Charge Law and PAYE tax adjustments, reflects the government’s commitment to creating a stable fiscal environment (Ademola & Olatunji, 2023).
Lagos, as Nigeria’s economic hub, contributes a significant portion of the country’s internally generated revenue (IGR). However, challenges such as tax evasion, corruption, and inefficiencies in tax administration have hindered the realization of economic growth potentials. This study examines the impact of tax reforms on economic growth in Lagos State, focusing on reforms implemented from 2020 to 2025.
Statement of the Problem
Despite its status as Nigeria’s leading revenue-generating state, Lagos faces persistent socioeconomic challenges, including unemployment, infrastructure deficits, and poverty. Tax reforms are often lauded as a solution to these issues, but their effectiveness in driving economic growth remains uncertain (Ogunlana & Bakare, 2024).
While some argue that reforms have enhanced revenue mobilization and economic activity, others highlight increased compliance costs and limited taxpayer awareness as barriers. This study addresses these contradictions by evaluating the link between tax reforms and economic growth in Lagos State.
Objectives of the Study
- To assess the relationship between tax reforms and economic growth in Lagos State.
- To identify the challenges associated with tax reforms in Lagos State.
- To propose strategies for optimizing tax reforms to enhance economic growth.
Research Questions
- What is the relationship between tax reforms and economic growth in Lagos State?
- What challenges affect the implementation of tax reforms in Lagos State?
- What strategies can optimize tax reforms to promote economic growth?
Research Hypotheses
- H₀: Tax reforms have no significant relationship with economic growth in Lagos State.
- H₀: Challenges in tax reform implementation do not significantly affect their outcomes.
- H₀: Proposed strategies will not significantly optimize tax reforms for economic growth.
Scope and Limitations of the Study
The study focuses on tax reforms in Lagos State, with a particular emphasis on reforms implemented between 2020 and 2025. Limitations include the availability of disaggregated economic growth data and potential external factors influencing outcomes.
Definitions of Terms
- Tax Reforms: Adjustments to tax laws and regulations aimed at improving economic outcomes.
- Economic Growth: The increase in a region's economic output, typically measured by GDP.
- Lagos State: Nigeria’s commercial and industrial hub.
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