Non oil tax revenue

As at 2009, oil sector share in total revenue stood at 78.8% while non-oil sector accounted for just 21.3% of the total revenue (CBN, 2010). The choice between direct and indirect tax has elicited serious debate in terms of economic benefits and limitations that characterized each.

15 Mar 2018 Based on data from Indonesia's Finance Ministry, non-oil & gas tax revenue realization grew 19.1 percent year-on-year (y/y) to IDR 156.8 trillion  Improving Lives Through Smart Tax Policy. Norway, for example, has a substantial oil production industry on which it levies a high (78 percent) income tax and When looking at the sources of tax revenue by region, including non- OECD  observe no effect of oil revenue on non-oil taxes through taxation channels, and linkages with the non-oil economy seem to yield additional non-oil tax revenues. The government is committed to diversifying the nation's economy; from dependence on oil revenue to non-oil revenues. In September 2016, the Federal   30 Jan 2017 Aid, as a form of non-tax revenue, was seen as having the same “ pernicious” effects as oil in impeding democratic change. If true, this creates a  21 Aug 2019 The president's spokesman, Garba Shehu, commented, “it would appear that the country might be heading for a fiscal crisis if urgent steps are not  20 Feb 2008 Mexican government classifies its revenues from oil exports as part of its fiscal between oil and non-oil tax revenues, as a percentage of total 

The government has additional income from fees and Equinor (formerly Statoil) dividend. Estimated total net cash flow from the petroleum industry in 2020 is NOK 

304 Akwe James Ayuba: Impact of Non-Oil Tax Revenue on Economic Growth: The Nigerian Perspective is because the bulk of revenue needed for development purposes is derived from oil. Crude oil export has continued to account for over 80% of the total federal government revenue, while the remaining 20% is contributed by non-oil As at 2009, oil sector share in total revenue stood at 78.8% while non-oil sector accounted for just 21.3% of the total revenue (CBN, 2010). The choice between direct and indirect tax has elicited serious debate in terms of economic benefits and limitations that characterized each. The government's non-tax revenue amounted to Rs 378.234 billion, including Rs 348.674 billion from federal non-tax revenue and Rs 38.560 billion from the provincial non-tax revenue. Nevertheless, it will focus on agriculture as a priority area, which it plans to grow by 6.9 per cent per year, and the non-oil sector. The government plans for Nigeria to become a net exporter of rice, tomatoes, vegetable oil, cashew nuts, groundnuts, cassava, poultry, fish and livestock. The study examined the impact of tax revenue on the Nigerian economy. The objectives of the study were; to examine the relationship between petroleum profit tax and the Nigeria economy, the impact Government Revenues in Nigeria decreased to 798.82 NGN Billion in the first quarter of 2019 from 1121.55 NGN Billion in the fourth quarter of 2018. Government Revenues in Nigeria averaged 836.12 NGN Billion from 2010 until 2019, reaching an all time high of 1121.55 NGN Billion in the fourth quarter

“Oil revenue was N960.87bn against the pro rata of N1.06tn, implying a shortfall of nine per cent. Total non-oil revenues, which include Corporate Income Tax, Value-Added Tax, Customs Revenues

Abstract This study analyses the impact of Non-oil Tax Revenue on Economic Growth from 1993 to 2012 in Nigeria. To achieve this research objective, relevant   However, the performance of tax revenue has not been optimally indicated by the With the scope of the study limited to non-oil and gas income tax and value  Presentation by Daniya Abdulazeez at the second annual Nigerian Tax Research Network meeting which took place in Abuja on 24th and 25th November 2018.

25 Jan 2020 PDF | This research seeks to comparatively identify the revenue performances of the oil and non-oil tax revenue with regards to Nigeria's GDP.

2 May 2018 851px version of Oil-CCPA.jpg Alberta government non-renewable resource revenue as a percentage of total government revenue from 1970  Based on his assessments, the author shows that steady growth of the non-oil sector by 7%-9% per year is a major condition for maintaining the stability of 

Income that is taxable must be reported on your return and is subject to tax. Income that is nontaxable may have to be shown on your tax return but is not taxable. A list is available in Publication 525, Taxable and Nontaxable Income. Constructively-received income.

31 Mar 2019 The objective of this paper is to explore the impact of Non-oil tax revenue on the economic growth of Nigeria as proxies by the real gross  Prior work: few work have covered non oil taxation and the relationship of company income tax (CIT), value added tax (VAT) and custom and excise duties tax (  25 Jan 2020 PDF | This research seeks to comparatively identify the revenue performances of the oil and non-oil tax revenue with regards to Nigeria's GDP.

The General Tax Administration (AGT) yielded 1.8 billion kwanzas during the first trimester this year, recording a 34 percent increase in relation to the same period in 2018. The non-oil revenue in the first trimester of this year was yielded through the collection of several taxes. “Oil revenue was N960.87bn against the pro rata of N1.06tn, implying a shortfall of nine per cent. Total non-oil revenues, which include Corporate Income Tax, Value-Added Tax, Customs Revenues Non-oil revenue amounted to about N838.58 billion, while receipts from oil taxes accounted for N1.60 trillion, In 2011, the FIRS recorded N955.19 billion in the first Quarter and N985.30 billion The Internal Revenue Service allows you to subtract expenses right off the top of your income, reducing your tax even if your deductions are otherwise limited. Understanding Royalties Royalties are payments from oil and gas producers for the use of land that contains oil and gas reserves. On this basis, revenue receipts are of two types viz. Tax Revenue and Non-tax revenue. Tax Revenues. Tax revenues are either from direct taxes or indirect taxes. Direct tax generally means a tax paid directly to the government by the persons on whom it is imposed. Income Tax, Gift Tax, Wealth Tax and Property tax etc. are direct taxes.