Tax Reforms in Nigeria: Case against Tax Incentives

Abstract

This paper examined tax reforms with respect to tax incentives. Theoretical framework and conceptual framework of the subject matter were discussed. The paper also empirically reviewed the subject matter. The paper revealed that huge sums of tax revenue are being lost annually by the Nigerian Customs service due to under assessment of payable duties, unauthorized transfer of funds, abuse of waivers, concessions, exemptions and non-remittance of government revenue. Based on these revelations, the paper suggests that tax incentive packages such as concessionary duty  rate. Concessions to manufactures in bond schemes and export processing/exercise factory levy should be discontinued.

Keywords: Tax Reforms, Tax incentives, concessionary duty rate, waivers