Research on tax compliance is of economic, social and political benefit to the government and the citizens. Constant loss of tax revenue due to level of Quality of Tax Service (QTS) rendered by tax authority is perceived to have adversely affected nation's revenue generation and infrastructural development.Researches have been carried out on taxpayers' compliance, but not many considered the effect of QTS in their study. This studied looked at the probable influence of QTS on taxpayers' Voluntary Tax Compliance (VTC) behaviour in South-West, Nigeria. The study used survey research design with study population of 5,216,422 individual taxpayers. Data were collected with validated questionnaire by means of random sampling techniques. Sample size of 1,200 was used with a response rate of 87.6%. Descriptive and inferential statistics were used to analyse data at 5% significance level. The study revealed that QTS positively influenced VTC among individual taxpayers in the study states (Adj.R 2 =.117, F(6, 1050) =24.139, p =.000). There was evidence that trust in State Internal Revenue Service, QTS and employment status have significant relationship with VTC behaviour while gender, age and educational level do not have significant relationship with VTC in the study states respectively. The study concluded that QTS influenced VTC. Therefore, lack of tax awareness, tax education/information and poor tax service delivery was responsible for tax non-compliance. The study recommended that government should carry out tax education/information and tax awareness to taxpayers while tax officials should apply the concept of public management to tax service delivery.
The growth of Small and Medium Scale Enterprises (SMEs) had been considered a vital factor in the economic development of any country especially with regard to creation of employment and contribution to the growth of Gross Domestic Product. The growth of SMES was however hindered by challenges ranging from the lack of financial resources to expand, inadequate infrastructural facilities, lack of support from the government, harsh business environment, and above all, unpleasant taxation policy of the government creating enormous tax burdens to the SMEs. Tax Incentives had been perceived to influence the growth of small and medium enterprises (SMEs). In the light of all these, this paper reviewed the effect of tax incentives on the growth in sales revenue of Small and Medium Enterprises in Ondo and Ekiti States, Nigeria. The study employed survey design. The study population comprised SMEs registered with Small and Medium Enterprise Development Agency of Nigeria in Ondo and Ekiti States, with the total of 2,708. The Taro Yamane formula was used to obtain a sample size of 386. The owners/managers, employees, accountants and auditors of these SMEs were selected through a multi-stage sampling technique which involved the stratified, proportionate, and simple random sampling methods. Descriptive and inferential statistics were used to analyse the data. The results showed tax incentives (investment allowance, tax holiday, tax credit and tax deferment) have a significant positive effect on the growth in sales revenue of SMEs, F 679 =313.815, Adj. R 2 =0.759, p-value=0.000<0.05. Hence, the study concluded that tax incentives proxies, of investment allowance, tax holiday, tax credit and tax deferment were significant determinants of the growth in sales revenue of SMEs in Ondo and Ekiti States, Nigeria.
Revenue Generation and Capital Projects Development inLagos State, Nigeria IntroductionPublic capital expenditure which is one of the instruments of fiscal policy plays a major role in achieving macroeconomic balance in any country. An effective public sector that centers its fiscal policy towards improving capital projects development tends to achieve a sustainable growth, increase in employment and price stability among others. As a result, such countries have to improve its investment in road infrastructure, education, security, health facilities, power sectors and telecommunications. Increase in government expenditure on human capital projects (such as health and education) will leads to increase in labour output as well as national output. In the same vein, public investment on infrastructural facilities (such as road and telecommunication) can as well reduce the cost of production, improve private investment as well as increase the private profitability which in turn has positive multiplier effects on the economic growth and development.Olorunfemi, Samuel and Kayode (2019) raised an alarming issue that many of the states in Nigeria could not initiate nor execute any capital projects within their jurisdiction independently without the support of the Federal Government, international institutions or residents within the vicinity. The study further revealed that some local administration is very poor in carrying out their social responsibilities to citizens in the provision of road infrastructures. In the same vein, Chinedu and Ezomike (2019) further revealed that in spite of the fact that huge amount of money was voted for capital expenditure on road infrastructures in the country, many Nigerian roads are still in a terrible state which makes it difficult for commuters to use.Oyedele (2012) was of the opinion that the infrastructural facilities in Nigeria have already deteriorated and, therefore requires urgent repair, rehabilitation or replacement. The study further explained that there are more challenges in democratic governance than military governance in Nigeria when it comes to infrastructural development. This is due to the following reasons which Nigerian government needs to resolve: ability to identify the right project at a particular time and conducting the feasibility and viability studies of the project to be carried out. Other challenges are;
IntroductionAccounting information is paramount to business to the extent that it is capable of helping stakeholders to arrive at reasonable and reliable judgment on economic decision. Such decision will help to make qualitative investments decision (Soyemi & Olawale, 2019). For accounting information to be appropriate, it must be on time, have predictive value or feedback value or both (Farouk, Magaji & Egga, 2019). Financial reporting is synonymous with provision of quality accounting information to the stakeholders (Olowokure, Tanko & Nyor, 2016).Financial statements should always provide reliable information to assist users in decision making. The statement should contain relevant, reliable, comparable, comprehensive, timely and understandable information (Farouk, Magaji & Eega, 2019). Reliability suggests that accounting information is free from error and faithfully represents what is intended (Soyemi& Olawale, 2019). However, Johnson and Zhang (2018) argued that annual reports can never be completely free from bias, because financial information is prone to human mistakes and difficult to separate from error which may be unintentionally included in the report.Extreme lapses in accounting reports have given rise to high profile scandals that resulted not only in investor's losses but also in the loss of the reputation of the business which poses a problem for the entity (Soyemi& Olawale, 2019). The quality of financial reporting is affected by factors such as recognition of revenue and expenses on the income statement of cash flows, classification and measurement of assets and liabilities on the balance sheet (Ogbonnaya, 2020). According to Islak, Amiran and Abdul Manef (2018), financial reports lack comparative data and same companies may produce only sample column reports which are less informative and multi column reports due to the absence of
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