Effect of Tax Reforms on Revenue Generation in Nigeria: A Conceptual and Theoretical Review

This article examines the conceptual and theoretical foundations for tax reform in Nigeria, as well as their impact on revenue production. The study examines Nigeria's multiple tax reform measures, including the 2012 and 2017 National Tax Measures and the 2017 Voluntary Asset and Income Declaration Scheme (VAIDS). The paper also examines the theoretical underpinnings of tax policies, including the Laffer Curve Theory and the Behavioural Economics Theory. The study finds that tax reforms have had a positive impact on income generation in Nigeria, however challenges such as infrastructure and digital literacy persist. The review indicates that a holistic strategy to tax reform, integrating policy, technology, and behavioural insights, is required to maximise revenue production in Nigeria.