The Problems and Prospects of Company Income-tax-administration-in-Nigeria

The problems and prospects of company income-tax-administration-in-Nigeria

Preface

Background Of Study.

Every country in the world tends to induce income through duty administration. In Nigeria the company income duty administration aims and tries to stretch each company in the state more effectively. still the position at which the company income duty Administration in Nigeria tend to achieve its asked pretensions and objects depends substantially on the duty office and the company that’s operating in Abia state.

For the duty Administration in Nigeria to be effective the aspect of the companies been tested should be considered adequately and more directly so that the company would give dependable fiscal performance information for assessment. In which the civil government derives its income.

Due to the ever changing duty administration programs in the country and variations in the aspect of taxation in Nigeria some companies want to stay round and employ all kind of strategies that benefits them. Some of them shirk duty and some avoid duty.

When duty in Nigeria is paid by the colorful companies operating in the state the profit collected are used to give mileage services and furnishing fresh government services similar as in education and transport which are of great significance to the growth of the frugality of the state and to the country

duty administration in the country is a veritably important aspect that help in the provision of profit to the frugality of which the avoidance of duty payment by the companies in the country in general and in Abia state in particular will affect to a serious damage to the profit which should have been generated and used for the provision of structure.

When a company is been tested by the civil board of inland profit( FBIR) the company is meant to give an accurate information about their income but some companies go to the extent of phony in provision of their documents which gives an incorrect information to the board, thereby causing reduction in their duty assessment.

Grounded on the below observation or trend of this action over time this study set out to examine the problems and prospects of the company income duty administration in Nigeria and in Abia state to be precise.

Statement Of Problems.

The duty administration( collection and assessment of duty from companies is a delicate task. The assessment and collection of companies ’ income duty as at when due has been a problem

Associated with company income duty administration in Nigeria. These problem through observation has been told by the following understated factors.