Although this way creates avenue for default because the amount to be paid may be too much for the tax payer to bear at the end of the year, this is why the pay as you earn is recommended because tax is deducted as sources before the employees are paid their salaries.
How many tribes in Nigeria. Oyo Empire During the 15th century Oyo and Benin surpassed Ife as political and economic powers, although Ife preserved its status as a religious center. Whom to pay to Although the new framework introduced by Lord Lugard was all in an attempt to further simplify and merge all forms of existing taxation in Nigeria, there were however some issues relating to practical interpretation of these laws.
In Congress enacted the Federal Property Tax to pay for the expansion of the Army and Navy in the event of possible war with France.
Yakubu Gowon of corruption and delaying the promised return to civilian rule. This profit motivate makes entrepreneurs to engage in high risk ventures only to be taxed after all their efforts, moreover, where the enterprise runs into a los no incentives are given to them most of the time for the losses sustained.
Both small and other taxes forms are examples of direct taxes which are paid directly to the government. The could be regarded as poll tax or flat rate tax.
Most of the food items and manufactured goods are sold in open market stalls, in small neighbourhood shops, and on the streets.
The Tax Act of was modified after the war. This can only be achieved through an income elastic tax structure, progressive tax system etc. In the aftermath of the civil war, Nigeria's government became more centralized.
Nigerian law subjects certain activities and services to Withholding Tax. It is a consumption tax levied at each stage of the consumption chain, and is borne by the final consumer.
This procedure simplified and clarified the taxation policy in Nigeria. Capital Gains Tax This is tax charged on the money realized from selling of a property by a taxpayer. Indirect taxation These are the types of taxes that are imposed on commodities at flat rates before they get to the owner of these commodities.
Under the earliest taxing schemes an income tax was imposed on the wealthy, office holders, and the clergy. The monarch of Nigeria was still head of state but legislative power was vested in a bicameral parliament, executive power in a prime minister and cabinet, and judicial authority in a Federal Supreme Court.
Major export destinations Nigeria: The main markets for Nigerian exports—consisting mostly of crude oilcocoa beans, and rubber—are the countries of the European Union EU. Ghana declined in the 11th century but was succeeded by the Mali Empire which consolidated much of western Sudan in the 13th century.
The problem encountered is that how accessible profit determined and that companies are in opposition to the tax. The major cause of Borno's decline was a severe drought that struck the Sahel and savanna from in the middle of the 18th century.
De-colonial states, —[ edit ] Savanna states[ edit ] During the 16th century, the Songhai Empire reached its peak, stretching from the Senegal and Gambia rivers and incorporating part of Hausaland in the east.
Some other effective tax administration criteria are: Since the installation of the democratically elected government inthe country has faced periods of ethnic violence, also not conducive to attracting a tourist clientele.
Emeka Ojukwuthe military governor of the eastern region who emerged as the leader of increasing Igbo secessionist sentiment, declared the independence of the eastern region as the Republic of Biafra on 30 May This tax is normally levied on all taxable adults residing in the local government area irrespective of their incomes.
During his reign as "First Citizen" the publicani were virtually eliminated as tax collectors for the central government. The tax payment is a burden at the point of payment although the payer may accept the fairness of the tax he is paying.
A earning than the utility of the same naira to Mr. Context for Taxation, The Three Eras of Taxation in Nigeria, The Structure and Jurisdiction of Nigerian Tax Authorities, Instruments of Tax Policy, Statutory Developments, Beyond Oil Revenue: The Case for Tax Reform and Making the Nigerian Tax System Globally Competitive.
A History of Taxation.
A copy of "A History of Taxation" is also available in pdf format. "A History of Taxation" Taxes are considered a problem by everyone. Nigeria stands out in the continent for the vigour and range of its theatre.
The rich cultural heritage of the nation, particularly of the south, made performance the natural means for political debate, social cohesion, celebration, and lament. Taxation In Nigeria and History of Taxation In Nigeria.
A tax in Nigeria is a compulsory levy imposed by the Federal Government of Nigeria on individuals and corporate entities in respective of return of service expected from the government.
The history of Nigeria can be traced to prehistoric settlers (Nigerians) living in the area as early as BC. Numerous ancient African civilizations settled in the region that is today Nigeria, such as the Kingdom of Nri, who saw them as a source of increased taxation.
This book discusses the evolution of taxation in Nigeria within the framework of eight broad themes i.e., The Origin and Practice of Fiscal Federalism in Nigeria, The Constitutional Context for Taxation, The Three Eras of Taxation in Nigeria, The Structure and Jurisdiction of Nigerian Tax Authorities, Instruments of Tax Policy, Statutory Developments, Beyond Oil Revenue: The Case for Tax Reviews: 1.History of taxation in nigeria