INFORMATION COMMUNICATION TECHNOLOGY ON TAX ADMINISTRATION
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INFORMATION COMMUNICATION TECHNOLOGY ON TAX ADMINISTRATION
INTRODUCTION
1.1 Background of the Study
In many aspects, administrators in the year 2000 are doing the same functions as those in 1970.Only the method and medium of doing so have changed.
They continue to manage revenue laws that lag well behind social and scientific progress and are frequently frighteningly complex. They continue to devote more than 60% of our resources to processing information from taxpayers in the form of tax returns.
They process the information received in a rather inefficient manner. The taxpayer gives the data in a paper return, which is re-transcribed onto our various information systems and processed in batch mode, resulting in additional paper that is sent to the taxpayer.
They continue to rely on information from our taxpaying clients, which is sometimes obsolete and untrustworthy before we ever begin to handle it. A large percentage of our resources are dedicated to providing personal and one-on-one services to our taxpaying clients, and we continue to operate from centralised offices and locations.
They continue to support a number of economic and social contradictions, relying on increasingly out-of-date accounting norms and frequently fake geographical and jurisdictional boundaries.
Natural resources, for example, have little value on a traditional firm balance sheet, yet most governments are working to safeguard them. Most income taxes encourage spending (connected to obtaining money) while discouraging frugality and saving.
Our tax policies encourage personal, corporate, and national debt, while our treasuries lament a lack of national savings and cash.
They promote the creation of transnational corporate entities while failing to link those firms to actual productive, economic, and commercial activity in their purported countries (typically tax havens) of residence.
They are still grappling with concepts such as the multinational corporation, profit shifting, corporate tax minimization, tax competition, and tax havens. And, thanks to computers and the Internet, what was previously only available to giant firms is now well within the reach of small and medium-sized businesses.
They enable many entities to hide behind legal and professional privilege, or an easily obfuscated trans-jurisdictional corporate structure. They are, nevertheless, gradually coming to terms with the challenges.
1.2 Statement of the Problem
Identities, evidence, and jurisdiction remain the most significant compliance issues in society. Although we are approaching these problems in a variety of ways.
Though the information technology revolution is changing our traditional priorities and bounds, it also introduces a variety of new risks to previously gathered revenue.
At the moment, it appears that we are applying old business models, forms, and processes to the new environment, but this will undoubtedly change as the system refines its understanding of electronic commerce, enterprise application integration, and real-time automation, as well as better integrates IT systems.
Despite these, Nigeria’s tax system is plagued with inefficiency in policy and people, resulting in lower efficacy and a high percentage of evasion despite the government’s numerous improvements.
As a result, this study project delves extensively into the origins of the problem and how to redesign an ICT-based tax administration in Nigeria to provide an efficient revenue base and long-term economic development.
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