An Assessment of the Impact of Tax Reforms on Nigeria's Revenue Performance

Abstract : This study examined the functional relationship between tax reforms and revenue generation in Nigeria. The study employed descriptive survey design. The population of the study comprised all the three hundred and fifty (350) staffs of tax division of the Federal Inland Revenue Service (FIRS), Oyo State division. Data were gathered using a structured questionnaire and were analysed using descriptive and inferential statistics. The Impact of Tax Reforms on Nigeria’s Revenue Performance. The study's findings showed that the examination of the effectiveness of different tax reforms in enhancing revenue collection revealed a significant positive correlation, with an R value of 0.321 and an R² value of 0.103, indicating that different tax reforms explain 10.3% of the variance in revenue collection. This study concluded that various tax reforms have a significant positive impact on revenue collection which highlights the importance of implementing diverse tax reforms to address inefficiencies in the tax system and improve overall revenue generation. The study therefore recommended that government should continues to refine its tax laws and pay close attention to eliminating obsolete provisions, simplifying compliance procedures, and aligning tax regulations with prevailing economic conditions. So as to enhance administrative efficiency and improve the overall effectiveness of revenue generation and adopt a multidimensional framework for tax reform that encompasses broadening the tax base, strengthening enforcement mechanisms, and incorporating innovative fiscal measures to ensure a more equitable, transparent, and sustainable revenue collection system.