Improving Voluntary Tax Compliance within the Informal Sector

Description

– Improving Voluntary Tax Compliance within the Informal Sector –

Download Improving Voluntary Tax Compliance within the Informal Sector. Students who are writing their projects can get this material to aid their research work.

Abstract

Taxation is not new in the scene of human existence as it has been part of it all along. However, despite its age long history, its importance and necessity, it has not received the required level of acceptance and compliance. Instead, people tend to avoid the payment of tax if they are not compelled to do so.

The trend is worse among operators in the informal sector due to the nature of the sector.

This study therefore, considered the ways the government can improve voluntary compliance within the informal sector which has not been properly harnessed or brought under the tax net. Both primary and secondary sources of data were used.

The survey method which involves the use of questionnaire was employed to administer questionnaires on owners/entrepreneurs of small and medium scale enterprises in Enugu North Local Government of Enugu State and employees of Federal Inland Revenue Service (FIRS) and State Board of Internal Revenue (SBIR) in the State.

Also, the simple percentage and the chi-square qualitative statistical methods were used to analyse the data collected and test the hypotheses formulated. The study found out that the perception of tax payers is that the government is not accountable to them. Moreover, tax payers are not aware of current  development in the tax system.

Introduction

1.1 Background of the Study

Tax compliance encompasses all activities necessary to be carried out by the taxpaying public in order to meet the statutory requirement of tax law. This includes preparation of tax returns that must be filed by individuals and/or organisations.

Voluntary tax compliance is a tax system based on tax payers complying with the tax laws without being compelled by the tax authority to do so.

Under this system, tax payers are expected to report their income, calculate their tax liabilities and file returns. This is known as self-assessment. Self-assessment is one of the most prominent measures by the tax authority to secure voluntary compliance.

It encourages voluntary compliance because of the liberty granted the tax payer which requires him to complete his tax himself, make payments and file return. But, its administration seems to be much easier in the organised (formal) sector.

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