SCHOOL OF MANAGEMENT SERVICES

DEPARTMENT OF ACCOUNTING
2023/2024 2ND SEMESTER ASSIGNMENT
GROUP 1

LECTURER: Professor ADEGBIE Folajimi Festus

ACCT 434-TAXATION II GROUP ASSIGNMENT

READ THE GUIDELINES AT THE END OF THE TABLE.

GROUP TOPIC NAMES MATRIC NO

1 Assessment of Tax 1.ALABUAH Kamsey 20/3034
Administration of federal Anthonia
collected taxes: Effectiveness 2.ABATA Victor Ayomide 20/0748
and Ineffectiveness
2 Tax administration of States 1.ABE Mojolaoreofejesu 20/2223
collected taxes in Favour
Nigeria:Appraising the 2.ADEKOYA Oyindamola 20/2422
Strengths and weaknesses Adeshalewa
3 The effect of federal collected 1.ADELEKE Praise 20/3256
taxes on Infrastructural Toluwalope
development in Nigeria 2.ADEPOJU Joseph 20/0846
Oluwasanmi
4 Tax Practices by Federal 1.AFERHUAN Laju Esther 20/0038
Inland Revenue:How 2.AFIA Mmenyeneabasi 20/2380
effective is it to tax revenue Ekere
collection?
5- Section 86 of the Personal 1.AFOLABI Adesola 20/2591
Income Tax Act,CAP Oluwateniola
P8 .LFN 2004 established the 2.AFOLAYAN 20/1178
Join Tax Board.How Oluwatobiloba David
effective is the role
promoting uniformity in
PITA and execution of other
powers.?
6 Nigeria Tax Appeal Tribunal 1.AGUDA Elizabeth 20/1891
was established in 2010 to Oluwatomisin
reduce the incidence of tax 2.AKINSOWON Dorathy 20/1399
evasion, ensure fairness and Oluwakorede
transparency of the Nigeria
tax system.Discuss and
explain the achievement or
non-achievement of these
roles.
7 Tax administration is the 1AKOLADE Tioluwani 20/1138
legal system approved by the Daniel.

1
 government to provide 2.ALOKHA Vincent 20/2025
various policies,laws and Osiokenoya
regulations for Nigeria tax
system,which tax practice are
the various actions and
principles to ensure the
efficiency and effectiveness
of Nigeria tax system for
revenue generation.Discuss
relative to the federal
collected taxes.
8 Tax treaty is a bilateral 1.AMEOBI Kezia 20/1284
agreement made by two Jesufeyikemi
countries to resolve issues 2.AMUSAN Rachael 20/0110
involving double taxation of Fiyinfoluwa
taxpayers income and wealth
between two countries.
Discuss and explain the
models.
9 A major problem facing 1.ARASOMWON Ifenna 20/3220
multinational organizations is Veronica
multiple taxation.Discuss and 2.ASEKHAME Frances 20/0636
explain the hazards. Okhai
10. The powerful influence of the 1.AYANDA Damilola Ruth 20/0820
digital era on the everyday 2.AYIKA Chidima 20/2644
life and activities of people Janefrances
has caused the phenomenon
of "digital disruption". It
means that the digital age
inevitably changes the way
how economy operates,
causing the disruption or
interruption of traditional
business models. Discuss and
explain the imperativeness of
digitalizing tax administration
in Nigeria
11 Fiscal policy is a major 1.BABARINDE Temiloluwa 20/0257
economic stabilization Oluwapelumi
weapon that involves measure 2.BASOLA Moses Ayodeji 20/0009
taken to regulate and control
the volume, cost and
availability as well as
direction of money in an
economy to achieve some
specified macroeconomic

2
 policy objective and to
counteract undesirable trends
in the Nigerian economy
Discuss and explain the roles
of taxation in fiscal policy
12 Tax Planning and Fund 1.DAIRO Oluwatomipe 20/0011
Management in profit making Nicholas
organizations. Discuss and 2.Dauda Zaianab Tolulope 20/0538
explain the benefits and
challenges
13 Tax Planning as an aid for the 1.EZEUOGO Somtochukwu 1.20/0892
avoidance of multiple taxes in Blossom
Public Limited 2.FAJUYI Ebunlomo 2.20/1723
Companies.Discuss and Boluwatife
explain
14 Tax evasion is the illegal 1.FALOMO Sharon Simisola 1.19/1307
evasion of taxes by 2.FOLORUNSHO 2.20/3331
individuals, corporations, and Oluwayoyin Oreoluwa
trusts. Tax evasion often
entails taxpayers deliberately
misrepresenting the true state
of their affairs to the tax
authorities to reduce their tax
liability and includes
dishonest tax reporting, such
as declaring less income,
profits or gains than the
amounts actually earned, or
overstating
deductions.Discuss and
explain.
15 Tax evasion hampers 1.IBETO Chidera Lilian 20/0517
government efficiency and 2.IRABOR Gift Chidozie 20/0489
encourages capital flight in an
economy.Discuss and
explain.
16 Tax evasion and tax 1.JAMES Emmanuel
avoidance are terminologies Adewale 20/0988
in accounting which are both 2.Kess-momoh Oladokun 20/1520
practiced by taxes .Explain Queen
how they are being practiced
and the difference between
the two.
17 Capital allowances may be 1.KOLADE Ademola Elijah 20/2418
defined as a form of 2.LADEINDE-BRIGHT
standardized depreciation Oreoluwa Racheal .20/2348

3
 given under the income tax
law on certain specified
qualifying capital
expenditures.Discuss in line
with the relevant provisions
of law and the benefits to the
companies.
18 The structure of Nigerian Tax 1.MACGEORGE 20/0879
System is explicit with the Amarachukwumere Grace
relevant laws to give it the 2.MICHAEL David Elizabeth 20/0942
application by the relevant Ufedojo
tax administrators.Discuss
and explain.
19 Value Added Tax is an 1.NAIYEJU Ayomide Mary 20/1092
indirect tax and a 2.NWABUKO Chinoyeren 20/0687
consumption tax which is Uche
aimed at contributing to the
growth and development of
Nigeria economy. Discuss the
role it plays since 1994 to
date.
20 Partnership business has a 1.NWOFIA Ifeoma Peace 20/3005
deed and structure which aids 2.OGUNDIPE Agboola 20/2587
the management of their tax Olrunfemi
system.Discuss
21 Companies Income Tax 1.OJAOMO Ademola 20/0531
influences the growth of an Olugbenga
economy.Discuss and 2.OKPALA Chiamaka Laura 19/1977
explain.

22 Reliefs,allowances and tax 1.OKOIYE Daisy Omozele .20/1938

exempt deductions play the 2.OKOPI Jessica Ehi .20/2643
role of equity and progressive
in the taxation of
individuals.Discuss and
explain
23 Taxation plays important role 1.OLADIMEJI Charles .20/2319
in the development of an Khinde
economy,both developed and 2.OLAJIDE Ikeoluwa .20/0181
developing nations.Discuss Opeyemi
24 Tax audit and Investigation 1.OLANIYAN Omolola 20/2203
are techniques used by tax Elizabeth
administrators in Nigeria to 2.OLONADE Eniola 20/1816
enhance their efficiency and Dominion
effectiveness.Discuss
25 According to National Tax 1.OLUSAKIN Temitope 20/2476

4
 Policy of 2017,the agenda of Danie
the government is to diversify 2.OMONOKHUA Charity 20/0230
the national income base in Etse
order grow the economy of
Nigeria.Discuss
26 The relevant tax authority 1.ONWUAKA Rhema 20/1783
may carry out a back duty Somkelechukwu
audit and exercise power of 2.OTTUN Abayomi Ayomide 20/1240
distrain on a taxpayer under
the provisions of companies’
income Tax Act 2004 or
personal income tax decree of
2017 to enhance the
government income and fight
tax evasion.Discuss..
27 The importance of legislation 1.OYETADE Simileouwa 20/0907
and statutes on Nigeria tax Folasade
system. 2.RICHARD Chubuzor 20/2018
Austin
28 Customs and Excise duties 1.SHOYOYE Temiloluwa 20/1451
play important role in the Joy
managememt of Nigeria 2.SOGBESAN
international trade and Oluwatimilehin Ayoleyi 20/0367
generation of income for the
federal government of
Nigeria.
29 The Oil generating Income 1.SOLARIN Ayodeji Favour 20/2963
and Nigeria economy:The 2.SOTOMI Joshua Abayomu 20/1468
call for income diversification
to taxes for sustainable
economy.
30 Assessment of the 1.UDE Anthony Chiemerie 20/2084
contribution of companies 2.UDENZE Sharon 20/0321
income tax to the economic Chimdiuso
development of Nigeria in the
dispensation of
diversification of Nigeria
national income.
31 Capital gains tax occurs when 1.UKWUOMA David 20/2653
a capital assets is disposed of Udochukwu
through the process of 2.WOKOMA Sotonye 20/2791
exchange. However, capital Telema
gains tax operate with the
following challenges faced by
the relevant tax authorities:
I.Part disposal of assets

5
 ii. Compulsory acquisition of
land
iii. Transactions between
connected persons
Discuss and explain how
these challenges will be
resolved by Federal Inland
Revenue Servive(IFRS) in the
case of corporate
organizations.
32 Capital Allowance is a 1.ZIPAMOR Favour 20/1530
standard depreciation allowed Tamarautokon
by law for business 2.OKENE David Ochuko 19/1826
organizations to gain tax
advantage.Discuss relative to
relevant laws why companies
are attractive to this
system,conditions and
benefits under Companies
Income Tax Act 2004 as
amended in 2007 and
Petroleum Profit Act of 2004
33 The need to diversity the 1.ATUNBI Toluwani 18/0891
national Income of Nigeria 2.OLAJOYE Temiloluwa 19/0418
In line with National Tax
Policy of Nigeria. Discuss
which of Indirect Taxes or
Direct Taxes or both will
fulfil this agenda.
34 The petroleum Industry Act 1.SANGOBOWALE 18/0384
2021 makes provision for Ayomiolopin
legal governance,regulatory 2.OYEBOLU Deborah 19/2317
and fiscal framework to
refocus the petroleum
industry on the development
of the nation petroleum
sector,the host community
and the growth of the
companies.Present your
position paper on this
35 The Industry Development 1MADUNEME 18/1308
(Income Tax Relief)Act 1971 Ebubechukwu
as amended in 2004 grants 2.OLOYEDE Aduramomi 19/2033
tax holidays to companies in
the industries that satisfy the
provisions stipulated in the

6
 law. Critically examine this
policy as to the application by
the rehulators and the benefits
accruing to the compnies.
36 Tax Audit and 1.YUSUF Marybell Ojima 19/1407
Investigation:Antidote to tax 2.OLUBO Damilare 19/0208
evasion and tax irregularities
in Companies operating in
Nigeria economy.
37 The management and 1.UDOH Michael 19/0643
administration of tax in 2.OKEKE Nonso Victor A 18/1923
Nigeria may result into
dispute/objection ,appeal and
adjudication in the tax
tribunal.Discuss and develop
a professional position.
38. Petroleum Industrial Act 1.ADEYEMI David Mayowa 19/2024
2021was enacted to provide 2.OYALEKE Oluwatomisin 19/0917
legal, governance, regulatory
and fiscal framework for the
Nigerian Petroleum Industry.
Discuss the new development
in respect of enhancing the
development of the economy
of Nigeria.
39 Historical development of 1.AKINSIBO Faith 19/2841
taxation in Nigeria is a legacy
Temiloluwa
from the pre- independence 2.OKEZIE Oghoechukwu 19/0628
government based on 1948 Finecountry
British tax laws and have been
mainly static since
enhancement. The need to tax
personal incomes throughout the
country prompted the income
tax management act (ITMA) of
1961.Develop a discussion
paper to be presented at the
annual tax day in Babcock
University
40 Nigerian Tax system is based 1.OLABODE kolawole 18/0239
on laws and statutes. Taxes Joshua
are established by law in 2.GODWIN-IWATEN 19/0421
Nigeria. Such tax must have Temiloluwa
been passed into law through
enactment of relevant statute
(Act, By-law, decree among
others). The tax law

7
 establishes the administrative
body and specify its tax
jurisdiction.Based on the
above,discuss how laws and
statutes have affected the
practice of taxation in
Nigeria,
41 Nigerian Tax Appeal 1.OLAOGUN Oluwalanumi 20/2167
Tribunal was established in Temilade
year 2010 to meet the 2.WILLIAMS Gabriella 20/1960
expectation of all the Yetunde
stakeholders in Nigerian
economy as aggrieved parties
can raise objections of tax
liability assessed. Discuss the
role of the tribunal in
promoting fairness and equity
since its establishment.
42 Discuss the Developmental 1.OKOLIChimebuka 20/0182
effect of Value Added Tax 2.ONABANJO Aminat 17/1479
(VAT) on the Economy of
Nigeria
43 Tax evasion and Tax Fraud 1.AINA Olufolahan Nosa 19/0151
are two financial 2.OLAJOYE Temiloluwa 19/0418
masquerades that look
alike,but they have done
financial evil of the economy
of Nigeria.Discuss in your
presentation of paper on this
issue.
44 Tax Administration 1.AJAYI Oluwaseyi Divine 19/1619
effectiveness or Non- Favour
effectiveness is adjudged to 2.EBOJI Uche Mercy 19/0607
have significant effect on
taxes collected
inNigeria.Discuss in your
paper to be presented to the
graduating class of BSc
accounting in Babcock
University
45 Double taxation experienced 1.DALUT Makshwar Isaac 17/1073
by profit oriented companies 2..OGUNMOROTI 16/1530
leads to cash outflow with Oluwatobilobi
consequential effect of 3.OGUNLEYE Babatunde 19/1797
profitability, while tax Usman
planning leads to

8
 management of cash outflow
at the positive consequence
on profitability. Prepare a
paper for presentation to a
group of Managing Directors
of companies in Nigeria
NOTE:
1.There are two students in a group .
2.All students in a group must work together because each group will present to me in my
office
3. Total Marks is 20 broken down thus:

i. Arrangement and presentation of the paper 2 marks

ii. Focus of contents on the topic 8 marks
iii. Body citations 4 marks
iv. Conclusion and recommendations 2 marks
v. References 4 marks
20marks

3. The purpose of the assignment is for each student to apply creative strategic thinking and
develop a position in your area of topic that will help the practice of taxation and development of
Nigeria economy.

4.Cut and paste work will not attract any mark.