Repositioning the Informal Sector on Tax Driven Technology: A Tool ror Achieving Vision 20:20 in Nigeria

Francis Chinwe Chikwem; Victor Chukwudi Nwosu

Authors

Francis Chinwe Chikwem Godfrey Okoye University, Enugu State
Victor Chukwudi Nwosu Ambrose Alli University, Ekpoma

Keywords:

Tax Reform, Technology, Informal Sector, Vision 20:20, Nigeria.

Abstract

The continuous fall of oil prices in the international oil market has affected most of the oil-dependent economies in the world. Nigeria being one of these countries has started to diversify her economy away from oil and gas sector. This study, therefore, seeks to unravel the nexus between repositioning the informal sector on tax driven technology and using the sector as a sound technology base for achieving vision 20:20 in Nigeria. A sample of 660 respondents from six (6) selected states, one from each of the Geo-Political Regions of the country was chosen. Analysis revealed that the FIRS has few small businesses of the informal sector captured in their data base, that tax technology at their respective zonal offices are very insignificant and yet insisting on a no-cash policy transaction. This study, then, suggests that Nigerian government should develop a robust framework based on technology for the taxation of the informal sector and the actualization of vision 20:20 in Nigeria.

Author Biographies

Francis Chinwe Chikwem, Godfrey Okoye University, Enugu State

Department of Political Science and International Relations, Godfrey Okoye University, Enugu State, Nigeria.

Victor Chukwudi Nwosu, Ambrose Alli University, Ekpoma

Department of Public Administration, Faculty of Social Sciences, Ambrose Alli University, Ekpoma, Edo State, Nigeria.