Research
Effect of High Corporate Tax Rate on the Liquidity of Corporate Organizations in Nigeria-A Study of some Selected Corporate Organizations.
The study was carried-out to analyse the effect of high corporate tax rate on the liquidity of corporate organizations in Nigeria. The related literatures were reviewed. The population of study comprises the selected corporate organizations while the sample size of the study is fourty one (41). Taro Yamane sampling technique was adopted because it ensures a satisfactory degree of representativeness and unbiasness. A number of statistical tools including tables and analysis of variance (ANOVA) were used to analysed the data and test the hypothesis formulated. The study revealed that, the burden of high corporate tax falls on the corporate organisations as it affects their liquidity, but the incidence of high corporate tax rate falls on the customers and suppliers through forward and backward shifting of prices- all things being equal. It is therefore, recommended that, the Nigeria corporate tax rate of 30% should be reduce below OECD average corporate tax rate of 25.32% to avert the negative economic effects of high corporate tax rate on the long-run and also the government should strengthen the Bank of Industry to close the funding gap in the corporate organisations.
Assessment of the Contribution of Internal Generated Revenue to the Total Tax Revenue of Kogi State before the Introduction of Taxpayers Identication Number (Tin) (2003-2007)
The study was carried-out to assess the contribution of internally generated revenue before (TIN) on total tax revenue in Kogi State. The related literatures were reviewed. The population of study comprises the Total Tax Revenue Before TIN (TRBT) and Internally Generated Revenue Before TIN (IGRBT). A number of statistical tools including tables and Regression were used to analysed the data and test the hypothesis formulated. Our analysis of data revealed that, the internally generated revenue (IGR) before the introduction of TIN within (2003-2007) was not significant. We recommended that a holistic tax education should be carried out in order to keep the teeming taxpayers abreast of the need to pay their taxes to the state and the enforcement unit of the State Revenue Board should be properly empowered to monitor, enforce and prosecute any errant tax defaulters who fail to comply with tax authority.
