3 hong kong taxation and investment 2016 strategic role has become more entrenched, along with the further expansion of economic cooperation and integration with the mainland, and with the pearl river delta region in particular. Re-pricing economic alternatives is the fourth purpose of taxation policy specifically, taxation can be governments' main tool by which to influence the behaviour of their individual and corporate citizens. A carbon tax is a form of pollution tax (although carbon dioxide is naturally occurring) pollution taxes are often grouped with two other economic policy instruments: tradable pollution permits/credits and subsidies.
This research is proposed to investigate taxation as a fiscal policy tool - on its use in solving economic problem such as inflation reduction, harmonization of policies on tax as it relates to government policies and conflict in objectives, inequality, multiple tax problem etc. This report is a project of the oecd's joint meetings of tax and environment experts, who work in concert with the environment directorate and the centre for tax policy and administration this project also forms a part of the oecd's green growth strategy. A critical appraisal of taxation as an instrument of economic growth in nigeria by ogunleye, folorunsho isaac matric no: 0802425 department of accounting, faculty of the management sciences, ekiti state university, ado-ekiti, nigeria. Economic literature tends to be no: under plausible assumption the tax interaction effect is always bigger than the revenue recycling effect, and environmental taxes do not represent a win-win option, but always entail some economic costs.
The use of taxation as an instrument of economic regulation or control: for the purpose of discouraging certain forms of anti-social behaviour in the society taxation according to musgrave and musgrave (1984) can be extensively used in regulating the consumption pattern resulting in economic stabilization. The descriptive analysis is focused on the cross-country differences in terms of total tax burden and design of tax structure, while the empirical analysis studies the impact of taxation on the economic growth through regressions on pooled panel data. What is taxation as an instrument of economics development in nigeria. This paper examines taxation as an instrument of economic growth in nigeria using annual time series data sourced from the central bank of nigeria (cbn) statistical bulletin during the period 1980 through 2013, a linear model of corporate income tax (cit), value added tax (vat) and economic growth (gdp) was estimated using the ordinary least square (ols) technique.
Manner in which taxation is being used as a fiscal policy instrument for income redistribution and economic development it is intended to offer suggestion at improving the overall nigeria tax system in order to enhance. For temporary (225 day) amendment of section, see §§ 2(a), 3(a) of cooperative housing association economic interest recordation tax temporary amendment act of 2009 (dc law 18-109, march 3, 2010, law notification 57 dcr 2828. Economic instruments as a lever for policy objectives economic instruments encompass a range of policy tools, from pollution taxes andmarketable permits to deposit-refund systems and performance bonds. The impact of tax on government capital expenditure and economic growth in nigeria a tax is a fee charged or levied by a government on a product, income, or activity if it is levied directly on personal or corporate income, it is called a direct tax.
In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy according to keynesian economics , when the government changes the levels of taxation and government spending, it influences aggregate demand and the level of economic activity. A tax system meets the test of adequacy if it provides enough revenue to meet the demand for for public services, if revenue growth each year is enough to fund the growth in cost of services, and if there is enough economic activity of the type being taxed so rates can be kept relatively low. The impact of economic incentives on environmental protection two basic types of traditional regulatory approaches exist the first, a technology or design standard, mandates specific control technologies or production processes that polluters must use to meet an emissions standard.
Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy it is the sister strategy to monetary policy through which a. Government economic policy: government economic policy, measures by which a government attempts to influence the economy the national budget generally reflects the economic policy of a government, and it is partly through the budget that the government exercises its three principal methods of establishing control: the. Development of nigeria, tax avoidance and evasion are major hindrance to income growth in this sector, poor tax administration is a problem to effectiveness and efficiency of this source of income, and lack of corporate social responsibilities is causing unrest in the crude oil production.
Read socio-economic characteristics and the effect of taxation as a health policy instrument, food policy on deepdyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips. Link among corporate income tax, value added tax and economic growth indeed exist in the nigerian context thus the result offer tantalizing evidence that taxation is an instrument of economic growth in nigeria.
The world bank group works in every major area of development we provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Taxation is the important hope of capital formation in developing countries——the important instrument of underdeveloped countries to break the vicious circle of poverty and to emerge. Taxation as a fiscal policy instrument can be used for income redistribution in lagos state civil servants in 2012 zhattau , (2013) on fiscal policy as an engine of economic growth in. The changed attitud e towards the use of economic instruments in scandinavia is related to the growing distrust of traditonal regulatory instruments however, the increased use of green taxes can also be explained by the fiscal crisis of the scandinavian welfare states.