Effect of Pay as You Earn on Social and Economic Development in Nigeria

α
Osho, Augustine E. Ph.D
Osho, Augustine E. Ph.D
σ
Osho
Osho
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Ogunyankin Easther O.B
Ogunyankin Easther O.B
Ѡ
Fadakinte
Fadakinte
¥
Bukola
Bukola
α Ekiti State University Ekiti State University

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Effect of Pay as You Earn on Social and Economic Development in Nigeria

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Abstract

This study x-rayed the impact of pay as you earn on social and economic development (proxy by gross domestic ) in Nigeria. Secondary time series panel data was collected for the period 2009 to 2018 from the Statistical Bulletin of the Central Bank of Nigeria (CBN). The study employed Ordinary Least Squares (OLS) technique based on the computer software E-view 10 version for the analysis of data, where gross domestic products (GDP) is the independent variable, proxy for social and economic development, was regressed as a function of personal income tax (PIT) and value-added tax (VAT), the dependent variables. The results of the analysis showed that both personal income tax and value-added tax have significantly positive impact on social economic development. Based on the findings, the study recommended that government should strengthen the tax administration system to broaden the tax income, and embark on tax education to ensure voluntary tax compliance.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Osho, Augustine E. Ph.D. 2020. \u201cEffect of Pay as You Earn on Social and Economic Development in Nigeria\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 20 (GJMBR Volume 20 Issue B1): .

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GJMBR Volume 20 Issue B1
Pg. 13- 21
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-B Classification: JEL Code: F63
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v1.2

Issue date

February 3, 2020

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en
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This study x-rayed the impact of pay as you earn on social and economic development (proxy by gross domestic ) in Nigeria. Secondary time series panel data was collected for the period 2009 to 2018 from the Statistical Bulletin of the Central Bank of Nigeria (CBN). The study employed Ordinary Least Squares (OLS) technique based on the computer software E-view 10 version for the analysis of data, where gross domestic products (GDP) is the independent variable, proxy for social and economic development, was regressed as a function of personal income tax (PIT) and value-added tax (VAT), the dependent variables. The results of the analysis showed that both personal income tax and value-added tax have significantly positive impact on social economic development. Based on the findings, the study recommended that government should strengthen the tax administration system to broaden the tax income, and embark on tax education to ensure voluntary tax compliance.

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Effect of Pay as You Earn on Social and Economic Development in Nigeria

Osho
Osho
Ogunyankin Easther O.B
Ogunyankin Easther O.B
Fadakinte
Fadakinte
Bukola
Bukola

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