TABLE OF CONTENT
Title page
Certification i
Dedication ii
Acknowledgement iii
Table of Content v
CHAPTER ONE
INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of Research 5
1.3 Objective of Study 6
1.4 Justification of Study 7
1.5 Hypothesis of Study 8
1.6 Scope and Limitation of Study 9
1.7 Plan of the Study 10
CHAPTER TWO
LITERETURE REVIEW 13
2.1 Definition and Objective of Taxation in Nigeria 13
2.1.2 Classification of the System in Nigeria 15
2.1.3 Canons of Taxation 16
2.2 Nature and Objective of Withholding Tax System
in Nigeria 18
2.3 Income to Which Withholding Tax in Applied
and Tax Applicable 22
2.4 Duties of Parties involves in Withholding Tax 24
2.5 Administration and Implementation withholding
Tax in Nigeria 31
2.6 Determination of Relevant Tax Authority 37
2.6.1 Withholding tax return and income exempted
from tax 38
2.6.2 Offence and Penalties 40
2.7 Advantages of Withholding Tax System 41
2.7.1 Contentious Issue on Withholding Tax 42
2.7.2 Distinction between Withholding Tax and VAT 44
CHAPTER THREE
RESEARCH METHODOLOGY 47
3.1 Research Methodology 47
3.2 Research Design 47
3.3 Types and Method of Data Collection 47
3.4 Method of Sampling 48
3.5 Population and Sample Size 49
3.6 Method of Data Analysis 49
3.7 Statistical Techniques used in Data Analysis 51
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS 52
4.1 Introduction 52
4.2 Data Analysis and Interpretation 53
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS 73
5.1 Summary 73
5.2 Conclusion 74
5.3 Recommendation 76
5.4 Limitation of the Study 79
Reference 80
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
The responsibilities of government toward its citizen include provision of infrastructure facilities security important welfare development project, to improve the standard of loving to promote economic development etc. It is quite obvious that such activities will only be possibly carried out through support from an efficient and effective financial base. The financial base can be gotten from various sources including “Taxation”. Taxation can simple be define as the concept and science of imposing the tax as the citizen (Sun Ni 2009). Tax in the other hand is a compulsory levy imposed by the government through its agents and for which it is not bound to offer service or consideration (Ola 2006). Tax is levied on income (individual) profit (enterprise and companies). Capital (capita gain tax) and consumption (tariff) of a subject (citizen). Basically, taxes are classified into direct and indirect taxes. This classification is based on how the taxes are paid.
oyejide, O (2021). Accounting for Withholding Tax Operation in Nigeria: Its Relevance and Adequacy (A Case Study of Federal Inland Revenue Service, Ilorin). Afribary. Retrieved from https://tracking.afribary.com/works/accounting-for-withholding-tax-operation-in-nigeria-its-relevance-and-adequacy-a-case-study-of-federal-inland-revenue-service-ilorin
Oyejide, Oyeniyi "Accounting for Withholding Tax Operation in Nigeria: Its Relevance and Adequacy (A Case Study of Federal Inland Revenue Service, Ilorin)" Afribary. Afribary, 16 Dec. 2021, https://tracking.afribary.com/works/accounting-for-withholding-tax-operation-in-nigeria-its-relevance-and-adequacy-a-case-study-of-federal-inland-revenue-service-ilorin. Accessed 10 Nov. 2024.
Oyejide, Oyeniyi . "Accounting for Withholding Tax Operation in Nigeria: Its Relevance and Adequacy (A Case Study of Federal Inland Revenue Service, Ilorin)". Afribary, Afribary, 16 Dec. 2021. Web. 10 Nov. 2024. < https://tracking.afribary.com/works/accounting-for-withholding-tax-operation-in-nigeria-its-relevance-and-adequacy-a-case-study-of-federal-inland-revenue-service-ilorin >.
Oyejide, Oyeniyi . "Accounting for Withholding Tax Operation in Nigeria: Its Relevance and Adequacy (A Case Study of Federal Inland Revenue Service, Ilorin)" Afribary (2021). Accessed November 10, 2024. https://tracking.afribary.com/works/accounting-for-withholding-tax-operation-in-nigeria-its-relevance-and-adequacy-a-case-study-of-federal-inland-revenue-service-ilorin