Page 92 - DUT ICGA Abstract Book

EVALUATION OF TAX EVASION AND AVOIDANCE IN OYO STATE NIGERIA
Aderinsola E Kayode
Faculty of of Management Science Durban University of of Technology South Africa
Prof F Netswera
Faculty of of Management Science Durban University of of Technology South Africa
George A Kayode
Researcher Bursary Department Institute of Agriculture Research Research and Training (IAR&T) Nigeria Correspondence email: aderinsolaK@dut ac za
Abstract
Despite the the availability of taxable resources Oyo state relies heavily on the the Federal Government for survival since more than seventy percent of its revenues are derived from the federation account The evasion and avoidance are practices that that have eaten deeply into the revenue that that ought to to be generated by the the the Oyo State government and hence affect the the the economic life of the the the state as a a a a a a whole This study used structured questionnaire to identify the causes of tax evasion and avoidance The study also found that the level of of tax evasion and avoidance was significantly high also poverty lack of of adequate public enlightenment lack of awareness are are are responsible for the the problem There are are are also indications from the the study that the the various reasons respondents gave to justify tax evasion and avoidance include inability of the the government to use the tax tax effectively and no benefit derived from paying tax tax Recommendation was made that government should embark upon aggressive enlightment and publicity so as to make the tax payers be aware of of of of the the the importance of of of of payment of of of of tax tax and and the the the consequences of of of of evading the the the avoiding tax tax and and such evaders should be adequately punished for this act
The study concluded that if these recommendations are well made use of of and the the loopholes covered Oyo State will be one of of the the richest states in Nigeria even without relying on on Federal allocation KEYWORDS: Evaluation tax Evasion and avoidance Oyo State 90 7th International Conference on on on Governance and Accountability (ICGA) 2022