This study assessed the Effect of Tax Reforms on Nigerian economy. Value Added Tax, Company Income tax, and Gross Domestic Product per Capita was used to measure productivity for a period of twenty eight years spanning from 1992 to 2019. Based on the objectives of the study, four hypotheses were formulated. Ex Post facto research design was adopted. The time series data were obtained from Federal Inland Revenue Services, Central Bank of Nigeria, National Bureau of Statistics and the World Bank Publications. As a preliminary step in testing, the study employed the Augmented Dickey Fully Unit root test to confirm the order of integration of the time series variables. The study employed descriptive statistics and inferential statistics using Pearson correlation, and Regression analysis at the 5 level of significance, the study discovered that Value Added Tax, and Company Income Tax had a substantial negative influence on GDP per capita in Nigeria, whereas Petroleum Profit Tax has a significant positive effect on GDP per capita in Nigeria. It was recommended that government should diversify the economy for more development in order to increase the overall tax revenue base. Ezekwesili Tochukwu P. "Effect of Tax Reforms on Corporate on Nigerian Economic Development" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46398.pdf Paper URL : https://www.ijtsrd.com/economics/financial-economics/46398/effect-of-tax-reforms-on-corporate-on-nigerian-economic-development/ezekwesili-tochukwu-p
International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 5 Issue 6, September-October 2021 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD46398 | Volume – 5 | Issue – 6 | Sep-Oct 2021
Page 208
Effect of Tax Reforms on Corporate on
Nigerian Economic Development
Ezekwesili Tochukwu P.
Department of Accountancy, Nnamdi Azikiwe University, Awka, Nigeria
ABSTRACT
This study assessed the Effect of Tax Reforms on Nigerian economy.
Value Added Tax, Company Income tax, and Gross Domestic
Product per Capita was used to measure productivity for a period of
twenty eight years spanning from 1992 to 2019. Based on the
objectives of the study, four hypotheses were formulated. Ex-Post
facto research design was adopted. The time series data were
obtained from Federal Inland Revenue Services, Central Bank of
Nigeria, National Bureau of Statistics and the World Bank
Publications. As a preliminary step in testing, the study employed the
Augmented Dickey Fully Unit root test to confirm the order of
integration of the time series variables. The study employed
descriptive statistics and inferential statistics using Pearson
correlation, and Regression analysis at the 5% level of significance,
the study discovered that Value Added Tax, and Company Income
Tax had a substantial negative influence on GDP per capita in
Nigeria, whereas Petroleum Profit Tax has a significant positive
effect on GDP per capita in Nigeria. It was recommended that
government should diversify the economy for more development in
order to increase the overall tax revenue base.
KEYWORDS: Tax Reforms, Nigerian economy, VAT, Tax, and CIT
How to cite this paper: Ezekwesili
Tochukwu P. "Effect of Tax Reforms on
Corporate on Nigerian Economic
Development"
Published
in
International Journal
of Trend in Scientific
Research
and
Development (ijtsrd),
ISSN:
2456-6470,
Volume-5 | Issue-6,
October 2021, pp.208-219, URL:
www.ijtsrd.com/papers