Effect of Pay as You Earn on Social and Economic Development in Nigeria

Osho, Augustine E. Ph.D; Ogunyankin Easther O.B; Fadakinte; Bukola

Authors

Osho, Augustine E. Ph.D
Ogunyankin Easther O.B
Fadakinte
Bukola

Keywords:

economic development, direct tax, personal income tax, social development, value added tax

Abstract

This study x-rayed the impact of pay as you earn on social and economic development (proxy by gross domestic ) in Nigeria. Secondary time series panel data was collected for the period 2009 to 2018 from the Statistical Bulletin of the Central Bank of Nigeria (CBN). The study employed Ordinary Least Squares (OLS) technique based on the computer software E-view 10 version for the analysis of data, where gross domestic products (GDP) is the independent variable, proxy for social and economic development, was regressed as a function of personal income tax (PIT) and value-added tax (VAT), the dependent variables. The results of the analysis showed that both personal income tax and value-added tax have significantly positive impact on social economic development. Based on the findings, the study recommended that government should strengthen the tax administration system to broaden the tax income, and embark on tax education to ensure voluntary tax compliance.

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How to Cite

Effect of Pay as You Earn on Social and Economic Development in Nigeria. (2020). Global Journal of Management and Business Research, 20(B1), 13-21. https://journalofbusiness.org/index.php/GJMBR/article/view/3005

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