REPORT ON WAGES, TAXES AND CSR POLICIES OF SELECTED COMPANIES IN NIGERIA
The assignment was to conduct research into wages, taxes and corporate social responsibility of select companies in Nigeria. As has been demonstrated severally, Nigeria has depended on crude oil revenue for far too long. This dependence made the country to relapse into complacency that precluded developing alternative sources of revenue to finance development.
In this regard, taxation has been found to be a strong economic tool not only for increasing public revenue but also for income distribution, especially for the progressive type, which
addresses problems of inequality and social injustice. The following are recommended for closing observable tax loopholes thus:
1) Focus should be on how to expand the value added tax based as its tax to Gross Domestic Product is in dire need of improvement. If the government of the day gets it right, all tiers of government will benefit immensely.
2) Incentives and Company survival are symbiotic and mutually reinforcing. This should, however, be conducted under an open, transparent and accountable ma n n e r s u c h t h a t t h e e c o n my understands the tax revenues being given up today for a much vibrant and virile sector wherever such incentives are applied.
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