Effect of Company Income Tax on the Gross Domestic Product (GDP) of Sub-Saharan African Countries
A tax is a compulsory charge on income, consumption and production imposed upon an individual, Partnership or companies by the government of a nation in order to fund various public expenditures. The success or failure of any tax system depends on the extent to which it is properly managed, as well as the extent to which the tax law is properly interpreted and implemented. Therefore, the study's main focus is on government spending and tax income in Southwest Nigeria. Therefore, this study examines tax revenue profile and economic growth in Sub-Saharan-African countries. The study adopts ex-post facto research design while data was sourced secondarily from the audited annual financial reports and budgets of southwestern states governments for the period of Twenty two (22) years 2000-2022. The population of the study comprises of four (4) Sub-Sahara African countries. Analytical techniques used in the study involved time series regression analysis. The result of the panel regression analysis implies that the coefficient for D(VAT) is statistically significant at the 5% level (p-value < 0.05).). Also, the coefficient estimates of correlation shows 0.082301, 0.484761, 0.082941, and 0.046799 for operational CIT, PIT, PPT,& VAT respectively. Company income tax is found to negatively and insignificantly affect economic growth according to the findings of the study.
Publication Details
- Journal
- Zenodo (CERN European Organization for Nuclear Research)
- Published
- 2024-12-30
- DOI
- https://doi.org/10.5281/zenodo.14575138
- Primary Topic
- Corporate Taxation and Avoidance
- Type
- article
- Field-Weighted Citation Impact
- 0.00