REVENUE GENERATION AND TAX REFORMS IN NIGERIA

This study investigated the effect of tax reforms on revenue generation in Nigeria using time series data from 2012 to 2022. In order to determine the effect of tax reforms on revenue performance in Nigeria, tax reforms were measured by reform in Petroleum Profit Tax (PPT), reform in Company Income Tax (CIT), reform in Value Added Tax (VAT) and reform in Personal Income Tax (PIT) while revenue performance on the other hand was represented by total federal collection revenue. Four hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using descriptive statistics and multiple regression model analysis operated with E-view 8. Ex-post facto research design was adopted and data for the study were obtained from the National Bureau of Statistics, Central Bank of Nigeria (CBN) statistical Bulleting and Federal Inland Revenue Service (FIRS). The regression result showed that the value added tax (VAT) coefficient is found to have a negative relationship with total tax revenue (TTR), the reform customs and excise duties (CED) coefficient is found to be positive with total tax revenue, the reform petroleum profit tax (PPT) coefficient had a positive relationship with total tax revenue in Nigeria, but it is statistically insignificant at 5%, the reform company income tax (CIT) coefficient is found to have a positive relationship with total tax revenue in Nigeria, and it is statistically significant at the 5%.