Journal • CITN Journal

Editorial Board

Editor-in-Chief

Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

COMPANY INCOME TAX AND NIGERIAN ECONOMIC GROWTH

Description

COMPANY INCOME TAX AND NIGERIAN ECONOMIC GROWTH

Authors

Iduh Peter Ogwuche, Abdullahi Musa Abdullahi and Godwin Emmanuel Oyedokun

Abstract

This study examines the impact of company income tax on economic growth in Nigeria. The analyses were performed using data from CBN bulletin, NSE fact book and FIRS annual report for an eleven-year period (2007-2017). The study employed multiple regression analysis techniques based on the SPSS 20 version for the analysis of data, where gross Domestic product (GDP), the dependent variable and proxy for economic growth, was regressed as a function of company income tax (CIT), and the independent variables and descriptive statistics were used to analyze the data. The findings indicated that company income tax has significant influence over economic growth in Nigeria. It is therefore recommended that the policies of company income tax should be reviewed to block the loopholes that encourage tax avoidance where most companies capitalize on to avoid tax and, full implementation of tax reforms agenda of 2003. The integrated tax office (ITO) introduced in 2004 should be adequately computerized and staffed with quality and experienced staff.

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