EFFECT OF TAX AUDIT AND INVESTIGATION ON REVENUE GENERATION IN NIGERIA

EFFECT OF TAX AUDIT AND INVESTIGATION ON REVENUE GENERATION IN NIGERIA

ABSTRACT

The increase in tax evasion and actual tax revenue collected but not fully remitted to the government necessitated this study on tax audit. This study explores the effect of tax audit and investigation on revenue generation in Nigeria. The population of the study consists of the staff of the Federal Inland Revenue Service, Lagos State. The study employed the survey descriptive research design. A total of 230 responses were validated from the survey. The questionnaire was used to generate the data. The hypotheses were tested using Chi-Square and Pearson correlation statistical tool, SPSS v.23.  Finding revealed that tax audit and investigation has significant effects on revenue generation in Federal Inland Revenue Service and there is a significant relationship between the increase in the revenue base of the government and tax audit and investigations in Nigeria. More also, the results show that tax audit and investigation aid resolving of the problem of tax evasion in Nigeria and there are positive effects of Computer Aided Audit Tools (CAAT)  on Revenue generation in FIRS. The study recommends that there is a need for tax audit department autonomy to be able to carry-out their responsibility effectively as specified in Federal Inland Revenue Service Establishment Act 2007. Also, Tax audit should be carried out on a routine basis to prevent tax evasion and extreme tax avoidance by the tax payers.  

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