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PROBLEMS OF INCOME TAX
ASSESSMENT AND COLLECTION
ABSTRACT
With the present economic
predicaments in the country, most people found it very difficult to cope with
the high cost of living. This is true, because the government is not generating
enough revenue as expected and such things affect the budget of the year. It
all meant that the government may not have enough money to provide social
amenities for the individuals.
Therefore the government, individuals
depend on revenue for the execution of their projects. The need may be defense,
education, transport, agriculture or provision of shelter for their citizens.
How far, therefore, government can go in solving such problems is function of
the revenue.
In writing this topic, I decided to
include the problems of people in the pigment of taxes or what makes them to
bulge the payment of taxes
However, among other chapters,
chapter three deals specifically on the findings summary and recommendation.
CHAPTER TWO
REVIEW AND DEFINITION
OF TERMS
Taxation, tax assessment and
collection with their associated problems have received attention in public and
among seasoned writers. This is what it should be because there has been
increasing emphasis on revenue generation in recent times. Government
activities in Nigeria is almost grinding to a halt because of the inability of
the state government to meet the demand for increasing the salaries of their
workers. This is caliamed to be due to lack of sufficient revenue on the part
of the state government. In such circumstances the issue of tax is bound to be
topical.
But what is tax? The oxford Advanced
Learners Dictionary of current English defines tax a sum of money to be paid by
citizens (according to income, value of purchase etc) to the government for
public purpose. The definition assumes that to be taxed, a citizen must have
earned income to purchase taxable goods and that the tax payer must be a
citizen and that the claim appears narrow. Tax is a levy paid by a resident of
a state provided the resident is within a taxable age. Mr. J. O.E. Afulukwe
shared that view in his not on General Principles of taxation. In 1975, when he
said that tax can be defined as a compulsory contribution to the public
authority to meet the expenses of government and the provision of general
benefit
Tax can also be defines as a
compulsory levi imposed by the government on the income of a citizens. It must
be distinguish from which is an impost by a state on person which are resident
or earn income within the state.
in Simon’s income tax
(1952) Lord Mechagh was quoted as saying that income tax if may be pardoned for
saying so, is a tax on income. It is not meant to be a tax essentially on
anything else. It is not collection of taxes essentially distinct. The
essential element of that definition is that tax has to be based on income and
assessed as one within a given tax year. If you derive your income from various
sources (eg profession, the rent, and dividend|) the income from all the
sources must be aggregated and assessed together, not as series of taxes by one
tax.
Personal income tax is levied on the
income of any individual residing or deemed to be residing in any state.
Section 3 of the income tax management Act 1961 prescribes person liable to
income tax to include individuals trustees of a trust or settle, executor of
estate of a deceased person, body or group of individuals other than limited
liability companies, communities or families and itinerated workers.
Section 12 (1) B) of the finance law,
1962 however exempted income of a corporation established by a state government
from paying tax.
Personal income tax must be
distinguished from the company tax which is levied on the earning of limited
liability companies, whether private or public., part II schedule D, paragraph
7 of the 1989 constitutions of Nigeria spells out the taxing power of the state
of income other than company tax, thus leaving tax in the hand of the federal
government.
In terms of assessment it was
asserted in Simion’s income tax (1952) “for income tax purposes assessing means
the process of making assessment, and it covers the process from the
examination of the completed return forms, if any, to the issue of notices
showing the amount of the tax payable” to my own mind definition appears
circular and does not take any one to power understanding of the word
assessment.
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