ENVIRONMENTAL TAXATION AND ACCOUNTING IN NIGERIA: CHALLENGES AND PROSPECTS

EMMANUEL GODWIN OYEDOKUN, ENI-ITAN TITILAYO FOWOKAN, HASSAN TOLANI AGBOOLA, RUFUS ISHOLA AKINTOYE

Abstract


Environmental problems in Nigeria are somewhat caused by industries in Nigeria, while Nigerians are putting pressure on governments to find ways of reducing environmental damages while minimizing harm to economic growth. This study examined challenges of environmental taxation and accounting in Nigeria. A descriptive survey design was adopted. The population of this study is the entire relevant tax authorities in South-West Zone of Nigeria and the data for this research were collected from a sample of 250 respondents randomly selected. Data used were sourced primarily using a self-administered, closed-ended questionnaire, designed in Likert scale format. The instrument was validated by experts in taxation and accountancy. Cronbach Alpha was used to determine the reliability index at .05 significance level and the reliability index for the
instrument ranges from 0.79 – 0.84. Meanwhile, mean and standard deviation were used in answering research questions. It was revealed that environmental taxation is significantly coterminous with improved environmental quality in Nigeria, as its existence and administration
have the tendency to ensure, restore, and maintain environmental quality in the country. Environmental taxation and accounting have not reduced environmental problems. The study thus, recommended that government should ensure that the structure and administration of environmental related tax premised on sound accounting system in the country should be void of loopholes and provisions that can permit evasion and that proceeds from environmental taxation should be channeled towards the development of infrastructural facilities in Nigeria to ensuring an
improved standard of living in the country while companies are also advised to environmental accounting record that depict relevant financial transaction of the companies.

Keywords


Accounting, Environmental Accounting, Environmental Taxation, Environmental Problems, Taxation

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International Journal of Management Science Research ISSN ISSN 2536 – 605X(Print)

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