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, VALUE ADDED TAX, PERSONAL INCOME TAX AND ECONOMIC GROWTH IN NIGERIA

Description

COMPANY INCOME TAX, VALUE ADDED TAX, PERSONAL INCOME TAX AND ECONOMIC GROWTH IN NIGERIA

Authors

Joseph Femi Adebisi, Mahmoud Ibrahim and Nuruddeen Abba Abdullahi

Abstract

This study examines the nexus of taxation mechanisms and economic growth in Nigeria by using annual time series data for over 30 years, from 1989 to 2019. Companies Income Tax (CIT), Value Added Tax (VAT) and Personal Income Tax (PIT) are the independent variables while Economic Growth (GDP) was the dependent variable. The study utilized regression technique as a tool of analysis. Results show that Companies Income Tax, Value Added Tax and Personal Income Tax are significantly and positively affect the economic growth in Nigeria. It was concluded that the results validated the theory that taxation is an instrument of economic growth in Nigeria. is the study recommends that Nigeria should lower the tax rate in the case of corporate taxation, personal income taxes and social security contributions. More so, tax authorities should further be strengthened to enforce compliance by taxpayers.

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