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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The future of personal income taxation in Nigeria
Author:Adedeji, AdebayoISNI
Periodical:The Nigerian Journal of Economic and Social Studies
Geographic term:Nigeria
Subject:income tax
Abstract:The thesis of this paper is that if the governments of Nigeria are to continue to be in a position to balance their recurrent budgets in the face of steeply rising expenditure and transfer large surpluses to the capital accounts, they have to step up the rate of growth in their revenue. For an increase of the revenue personal income taxation could serve as a source. Historical, political and administrative factors are responsible for the very limited contribution which personal income tax makes to revenue. Proposals are put forward in this paper which if adopted would greatly enhance the fiscal role of personal income taxation. Personal income tax should become solely a federal tax. The poll tax element in personal income tax should be removed. Personal income tax should be more progressive than it is at present. Income tax jurisdiction should revert to the Federal Parliament but the allocation of the proceeds of the tax should be on regional basis. A well protected National Bureau of Inland Revenue should be set up. Tables.