For correspondence:-
Received: June 1, 2021 Accepted: June 29, 2021 Published: June 30, 2021
Citation: Tax Identification Number (TIN) and Tax Revenue Performance in Nigeria. Account Tax Rev 2006; 5(2):53-61 doi:
© 2006 The authors.
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Abstract
The dwindling revenue from crude oil occasioned by fluctuating international oil prices is a wake-up call for Nigeria to diversify her revenue sources especially tax revenue. Efforts to increase tax revenue led to the introduction of TIN in 2008, but its effect on revenue generation in Nigeria is empirically unclear. The study examines the effect of TIN on tax revenue (VAT, CIT, CED and PPT) generation in Nigeria. Secondary data obtained from the statistical bulletin of the Central Bank of Nigeria (CBN) from 1998 to 2017 were analysed by the use of paired sample t-test. Findings reveal a significant positive difference in the means of value- added tax (VAT), company income tax (CIT),) customs and exercise duty (CED), and petroleum profit tax (PPT) after the introduction of TIN. Following the empirical evidence, we conclude that Nigerian tax revenue from VAT, CIT, CED and PPT improved significantly after the introduction of TIN during the period by the study. The study recommends that Nigerian tax authorities make every effort to enroll more eligible taxpayers on TIN because it can expand the tax net and improve the tax revenue accruable to the government for the provision of public goods and services.
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