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IMPACT OF TAXATION SYSTEM ON PUBLIC SERVANTS

IMPACT OF TAXATION SYSTEM ON PUBLIC SERVANTS

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In the olden days, the government imposed taxes to raise enough money to cover the cost of administration and defense. It was not unusual for some powerful kings and emperors to raise money for their own personal uses. Subsequently, it was realized that some services could be adequately provided for by the state rather than by individual, kings and Emperors.

Due to ever increasing functions of state, there is every need for the state to generate revenue by the means of taxation. Taxation is one of the major sources of public finance and has been a weapon of fiscal and economic control by the government over the ages. It has been a crucial element in the life of the individuals, corporate bodies, firms and government agencies to the extent that a drastic change in the policy in any fiscal year set in motion a chair of repercussion in homes, offices and factories. These are compelled by the new monetary and fiscal measures to adjust their accounting and operating strategies in keeping with the new policies.

Taxation refers to the compulsory payment by individuals and organizations to the relevant or internal revenue authorities at the federal, state or local government levels.

A tax therefore, is the compulsory payment in which the government levies on the individuals and on the income of corporate bodies to spend the cost of public expenditure.

According to Chukwu (2002) “Taxation is levying of compulsory charges on certain items and individuals by government as a way of raising revenue for public service”.

Anyanwucha (2006) defines taxation as a compulsory payment made by the eligible citizen toward the expenditure of a state. A tax is levied by the government without regard to the specific benefit that those individual tax payers may receive.

A tax has two elements: The Base and Tax Rate. The base refers to the item of the object which is taxed and these include personal income, imports and export company profit property goods for sale. The tax rate refers to the percentage or proportion of tax base or tax rate object which is to be paid as tax.

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Step 1: make payment of N2,000 to the below bank details


NAME:                       TITUS AYANI SOLA
BANK:                       FIRST BANK PLC
ACCT NO:                  3111741042
ACCOUNT TYPE:       SAVINGS
AMOUNT:                  N2000

STEP 2: AFTER PAYMENT SEND THE PROJECT TOPIC AND YOUR EMAIL ADDRESS TO 08063666753

Updated: 28th August 2018 — 10:23 am

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