Department of Business and Private Law

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Browsing Department of Business and Private Law by Author "AKINTOYE O.D"

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    BAD GOVERNANCE IN REVENUE GENERATING AGENCIES: THE BANE OF NIGERIA'S DEVELOPMENT
    (SCHOOL OF PUBLIC ADMINISTRTAION AND MANAGEMENT MZUMBE UNIVERSITY, MZUMBE MOROGORO, TANZANIA, 2023) AKINTOYE O.D
    ABTRACT Nigeria, commonly called the giant of Africa, has faced significant developmental challenges due to poor governance. Despite attaining independence 62 years ago, Nigeria has yet to catch up with other nations in several developmental spheres. This research examines the effect of maladministration on five institutions entrusted with revenue generation and its impact on Nigeria's slow developmental pace. Although Nigeria has commendable policies, their execution could have been more effective if not due to the lack of political will and commitment. Moreover, corrupt officials continue to evade punishment, further exacerbating the situation. The research, which relied on primary and secondary sources using the doctrinal approach, reveals that institutional corruption remains one of the most significant obstacles to Nigeria's progress. The paper recommends implementing checks and balances and enforcing the law by punishing corrupt government officials, a practice common in developed nations
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    EXAMINATION OF TAXPAYERS' RIGHTS IN NIGERIA: THE FEDERAL INLAND SERVICE AS A CASE STUDY
    (CHARTERED INSTITUTE OF TAXATION OF NIGERIA, 2018) AKINTOYE O.D
    Introduction Revenue Authorities all over the world are vested with powers which they exercise over taxpayers in order to ensure efficiency and voluntary compliance. To ensure balance in the tax system, taxpayers also have some basic right enshrined in the tax legislation. This paper’s main objective is to examine the Federal Inland Revenue Service (Establishment) Act, 2007 (FIRSEA) and some of the tax laws it supervises, to identify the basic taxpayers’ rights embedded in it and to see whether these rights are guaranteed and protected. The doctrinal method was adopted in carrying on this research as recourse was made to theoretical work rather than experiment. Primary sources consisting of taxation statutes were examined. Also secondary sources such as existing literature on taxation in text books, journals and internet were consulted. The study found out that the FIRSEA, together with all the tax law it supervises significantly strengthen the FIRS power and conversely trample upon taxpayers’ rights. For example, S.47(5) of the Personal Income Tax Amendment Act (PITAA) which gave the FIRS absolute power to procure information about the taxpayer from any organization undermines the taxpayers’ right to privacy, secrecy and confidentiality. Likewise, S.28(1) & (2) of the FIRSEA , 2007 which allows the FIRS to break through the bank secrecy regulation. Consequently, the study recommends amongst others, that all the provisions of the Act which inhibits the exercise of the taxpayers’ rights should be amended to mitigate the hardship as well as strengthen tax compliance. The paper concludes that there is the need for taxpayers’ rights to be respected without compromising the FIRS ability to assess and collect tax.