Impact of Company Income Tax on Gross Domestic Products in Nigeria

Abstract

This study examined empirically the impact of company income tax on gross domestic products in Nigeria. The motive of the study was to examine how company income tax revenue has contributed to gross domestic products in Nigeria. Secondary data was obtained from relevant literatures, Central Bank of Nigeria Statistical Bulletin and National Bureau of Statistics publications. Ordinary Least Square Linear Regression model is used to test the related data extracted from the Central Bank of Nigeria Statistical Bulletin and National Bureau of Statistics. Findings revealed that company income tax revenue has a positive and significant effect on gross domestic products in Nigeria. The study concluded that company income tax revenue plays a crucial role in the economy activity and making funds available in the government purse that can be used to adequately execute massive projects to the benefit of the citizens of the country. It is recommended that Government should endeavour to support companies by providing basic public amenities to all nooks and crannies of the country as this will boost the level of tax compliance in Nigeria.

Keywords: Company Income Tax, Gross Domestic Products, Taxation,