REVENUE LAW
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Date
2007
Authors
SANNI, A.O
Journal Title
Journal ISSN
Volume Title
Publisher
The Chartered Institute of Taxation of Nigeria, Lagos.
Abstract
Taxation has been surprisingly neglected in Nigeria both as a Law subject and a source of government revenue. The subject is however beginning to attract more attention from the government because of the volatility of oil prices, the agitation of oil-producing states for 'resource control' and felt need to diversify the base of the nation's economy. The reduction of petroleum revenue invariably means less revenue for all the levels of government. Hence, the three levels of government are now constrained to revitalise their tax systems either by modifying the existing laws or introducing new ones. These developments impact greatly on companies, charitable organisations, the ordinary citizens, inter-governmental fiscal relations and, to some extent, the economic health of the country. Consequently, an increasing number of legal practitioners, other professionals and ordinary citizens, are now faced with more tax-related issues than they probably could have imagined a decade ago.
This paper is written against this background to provide a general framework of the Nigerian tax system. Hence, the paper is introductory as it attempts mainly to provide the basic legal framework of the Nigerian tax system and its peculiarities.
Description
Keywords
REVENUE LAW
Citation
Sanni, A.O (2007) "REVENUE LAW" (28) 1 The Chartered Institute of Taxation of Nigeria, Lagos.