PROBLEMS AND PROSPECTS OF PERSONAL INCOME TAX ADMIINISTRATION IN NIGERIA: A STUDY OF KOGI STATE BOARD OF INTERNAL REVENUE

ABSTRACT This research work titled “Problem and Prospect of Personal Income Tax: A Study of Kogi State Board of Internal Revenue, Lokoja is carried out to assess the problem and prospect of the Personal Income Tax. In carrying out the study, survey method was used. Data were collected with the aid of Questionnaire (structured in 5 point Likert scale) distributed, and interview conducted based on the answers to the questionnaire, for clear understanding. The data collected were analysed with the aid of simple percentages. Hypotheses were formulated and tested using Pearson Moment Correlation to establish the relationship and Z-test was employed to test the level of significance. It was discovered that Personal Income Tax is an indispensable tool for economic development as its affect the revenue generation of the state which has a significant effect on the economic development of the state. However, it is recommended that the tax collectors and assessors should be constantly monitored and audited so as to discourage dishonesty, misappropriation or any form of financial misappropriation that erode our tax tool for economic development; and the government should ensure that the revenue generated from the tax should be used for the purpose for which it is meant for, etc.