THE IMPACT OF TAX AS A SOURCE OF REVENUE
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
It is widely known that taxation is a source of revenue to the government and it is also a coercive exploration to the payers. It is also an instrument for the fiscal policy either for expectionary or contractionary.
When it is expectionary the government expenditure increases, the income increases, the consumption increases, thus resulting to investment multiplier and employment increase. In other way, increase in government expenditure lead to increase in taxation which can lead to reduction in investment and consumption reduce and employment reduces.
In every society, there exists a direct relationship between the levels of needs and the amount of resources of its socio-economic development. For this reason taxation, has become what might be called a necessary evil”, this is so because the burden of development is shared among the populace according to their incomes expectedly earned during a given period their property and/or their consumption. It is “evil” in the sense that, it is inconvenient to part with an amount of money which cannot decide.
As society continues to grow in size and the levels of needs of the populace increases man began to adopt system of taxation that is equitable of generating sufficient revenue that is commensurate to the need level. As a result of growth of fiscal group, governments have been encouraging individuals and corporate bodies to undertake certain community development projects and services as part of their social responsibility initiatives.
The purpose of this project is to examine the impact of tax as a source of revenue with reference to Lagos State Board of Internal Revenue.
This objective of the project is to evaluate the economic implication of taxation in the state. It also examine the effectiveness of Lagos State Board of internal Revenue.
Each chapter contains comprehensive statement and principle together with relevant references.
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