Browsing by Author "Oyedokun, G.E"
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Item Impact of taxation on government capital expenditure in Nigeria(Fountain University, Osogbo., 2019) Olaniyi, T.A; Mustapha, N.A; Oyedokun, G.EThis paper investigated the impact of taxation on government capital expenditure in Nigeria. Secondary data were used and were obtained from Central Bank of Nigeria (CBN) Statistical Bulletin and Federal Inland Revenue Service website for period 1994 to 2016. Descriptive statistics was used to describe the variables under investigation, Augmented Dickey Fuller (ADF) Unit Root Test and Johansen Co-integration tests were used to establish the stationarity and long run association among the variables while Error Correction Model (ECM) was used to establish the exact impact of taxation of capital expenditure in Nigeria. The study showed that Company Income Tax (CIT), Petroleum Profit Tax (PPT), Personal Income Tax (PIT) and Education Tax (EDT) have significant financing power on government capital expenditure. Contrarily, Value Added Tax (VAT) and Capital Gain Tax (CGT) are not significant variables affecting government capital expenditures. It was concluded that taxation revenue has significant effect on government capital expenditure in Nigeria and the Nigerian government should improve its efforts in ensuring that all taxes are collected to prevent revenue leakage, in order to ensure provision of adequate infrastructural facilities which translate to economic growth with a view to sustaining the welfare of its citizens.Item Tax policy incentives and foreign direct investment in Nigeria.(Departments of Accounting & Finance and Business Administration, Fountain University, Osogbo, 2018) Olaniyi, T.A; Ajayi, R.O; Oyedokun, G.EAs unclear as the efficacy of tax incentives for attraction of FDI is, governments especially those of the developing countries have continued to grant incentives to expatriates in order to lure them to invest in their domestic economies. Thus, this study evaluated the impact of tax policy incentives on the inflows of foreign direct investment in Nigeria. It specifically investigated the impact of company income incentives, petroleum profit tax incentives, value added tax incentives, and custom and excise duties incentives on inflow of foreign direct investment into the country from 1994 to 2016. This study adopted ex-post facto research design, while multiple and correlation methods were used to analyze the secondary data obtained from Central Bank of Nigeria database. The study revealed that custom and excise duties and value added tax incentives has significant effects (Coeff= -2.096 and 4.247, p-values= 0.0233. 0.0125) respectively on foreign direct investment in the country, while companies income tax and petroleum profit tax incentives showed insignificant impact (Coeff= -1.514 and 2,749 percent; p-values= 0.1510, 0.7375) respectively on foreign direct investment in Nigeria. The study concluded that tax incentive policy is a good driver of foreign direct investment into Nigerian economy. It was recommended among other things that the government should find justifiable level of the VAT and custom duty to be paid by importers of foreign materials that will yield the maximum level of FDI into the country.