An analysis on contribution of land based taxes to internally generated revenue of Anambra state, Nigeria
Nwafor I V, Egolum C C
Provision for, and sustained infrastructural development is becoming a major issue in our polity due to poor internally generated revenue. Governments in a bid to solve the problem has resorted to introduction of more taxes and upward review of the existing tax rates without proper evaluation of the performance of these tax rates in place. Land based tax rates is the most hit in this regard in Nigeria. The purpose of this study is to ascertain if these increased land based tax rates have translated into increased land based recurrent revenue in Anambra State. The objectives of this study includes; examining the contribution of land based tax revenue to the internally generated revenue, ascertaining the growth of land based tax revenue within the studied interval, and examining the performance of actual land based revenue and internally generated revenue as against their projected figures. Descriptive statistics was used. The contribution of land based tax revenue to the internally generated revenue of Anambra State is between 1% - 14% within the studied period. Though a progressive growth was witnessed in the contribution over time, however, the state failed to achieve her projected lands based revenue and Internally generated revenue within the studied period except for two different years in both. The study recommended that the state should strategically determine her land based tax rates and estimation of both land based revenue and Internally Generated Revenue for better results. More so adopting one stop shop system in land administration to reduce diversion of public funds by public officers.