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Evaluation of the Effect of Personal Income Tax Amendment Act 2011 on Internally Generated Revenue: A Focus on Cross River State of Nigeria

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  • Peter A. Oti
  • Sunday A. Effiong
  • Egbe Esso Dickson
  • Iniobong Cletus Rabson
  • Agbon Egbe Chris

Abstract

The study evaluating the amended Personal Income Tax Act 2011 was necessitated in order to put in proper perspective the extent to which the amended Act influences the growth of Internally Generated Revenue (IGR). It was also geared towards ascertaining whether a change in the post-amendment IGR has a relationship with the pre-amendment IGR. For this purpose, secondary data were obtained from the Cross River State Board of Internal Revenue Service. A longitudinal research design was adopted in structuring the investigation. Regression model was employed to express the relationship between the predictor variable and the explanatory variable, and correlation analysis was used in determining the strength and direction of the relationship. The result indicates that personal income tax revenue of Cross River State significantly influenced the growth of IGR. Although the post-amendment PIT revenue significantly influenced the growth of the state IGR, the effect of the pre-amendment PIT revenue on the IGR was more. Hence, it was recommended that Cross River State government should engage in activities that will encourage taxpayers to voluntarily comply with the requirements of the Act and pay their taxes correctly and promptly, as a reverse has shown a tendency of negative implications on the state IGR.

Suggested Citation

  • Peter A. Oti & Sunday A. Effiong & Egbe Esso Dickson & Iniobong Cletus Rabson & Agbon Egbe Chris, 2016. "Evaluation of the Effect of Personal Income Tax Amendment Act 2011 on Internally Generated Revenue: A Focus on Cross River State of Nigeria," Journal of Empirical Economics, Research Academy of Social Sciences, vol. 5(2), pages 129-138.
    • Handle: RePEc:rss:jnljee:v5i2p4
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    References listed on IDEAS

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    1. Raza, Syed Ali & Ali, Syed Adeel & Abassi, Zia, 2011. "Effect of corporate income tax and firms’ size on investment: evidence by Karachi stock exchange," MPRA Paper 36800, University Library of Munich, Germany.
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