Rahmatu Ishaq Ahmed, Senior Lecturer, Nigerian Law School, Kano Campus
ABSTRACT
The need for an efficient and effective tax regime for companies in Nigeria in this age of social responsibility is now more than ever pressing. This is so since government cannot meet its increasing obligations without funds, which is also declining fast in view of the fall in oil prices. Hence, governments must look to alternative sources of revenue to meet its obligations. While tax presents the best alternative, without adequate regulation, sufficient revenues from tax cannot be raised. A ready challenge identified in this article to taxation in Nigeria, is tax avoidance by companies. The aim of this article is to analyze the adequacy of anti-avoidance provisions in the corporate tax legislations in Nigeria. The article observed that tax avoidance is not illegal; since it is limiting one’s tax liability within the confines of the laws. It also observed that the with the Finance Act 2019 in force, anti-avoidance provisions seem adequate, the problem is tax payers attitude and the implementation of the anti-avoidance provisions by tax administrators. The article recommends amongst others, that tax avoidance be made illegal in Nigeria.
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