AN ANALYSIS OF REGULATORY REGIMES FOR THE TAXATION OF ELECTRONIC COMMERCE IN NIGERIA

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✎: AN ANALYSIS OF REGULATORY REGIMES FOR THE TAXATION OF ELECTRONIC COMMERCE IN NIGERIA

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Keywords: AN ANALYSIS OF REGULATORY REGIMES FOR THE TAXATION OF ELECTRONIC COMMERCE IN NIGERIA

 

RESEARCH BODY

TABLE OF CONTENTS

CHAPTER ONE 
GENERAL INTRODUCTION
1.1. Background to the Study…………………………………………………………1
1.2. Statement of Problem……………………………………………………………4
1.3. Aim and Objective of Study…………………………………………………….5
1.4. Justification of Study……………………………………………………………6
1.5. Scope and Limitations of Study…………………………………………………7
1.6. Research Methodology…………………………………………………………..7
1.7. Literature Review…………………………………………………………………8
1.8. Organizational Layout…………………………………………………………..14
CHAPTER TWO
THEORETICAL AND ANALYTICAL DISCOURSE ON E-COMMERCE IN NIGERIA
2.1. Introduction…………………………………………………………………………16
2.2. Nature and Scope of Internet…………………………………..………………….17
2.3. Definition and Nature of Cyberspace…………………………………………….19

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2.4. Definition and Nature of Cyber jurisdiction …………….……………………22
2.5. The Definition and Nature of E-Commerce……………….…………………23
2.6. The Concept and Nature of Tax………………………….…………………..30
2.7. The Concept of Cyber taxation………………………………………………31
2.8. Conclusion …………………………………………………………………..32
CHAPTER THREE
REGULATORY REGIMES FOR E-COMMERCE TAXATION IN NIGERIA
3.1. Introduction …………………………………………………………………33
3.2. Regulation of Electronic Commerce under the Companies and Allied Matters Act..34
3.3. Central Bank Guidelines on Electronic Commerce………………………….…….37
3.3.1. Guidelines on the Automated Teller Machine (ATM) 2010……………………37
3.3.2. Guidelines for Card Issuance and Usage in Nigeria, 2014………………………..40
3.4. Assessment of the Power and Functions of the Federal Inland Revenue Service (FIRS) under Federal Inland Revenue Service (Establishment) Act, 2007……………44
3.5. Assessment of E-Commerce Taxation under Value Added Tax Act …………….52
3.6. Assessment of Cyber Income under the Personal Income Act …………………..56
3.7. Cyber Income under the Companies Income Tax (Amendment) Act, 2007………60
3.8. Guidelines within the framework of Organisation for Economic Co-operation and Development…………………………………………………………………… 62
3.9. Possibility of Cyber Taxation in Nigeria……………………………………66
3. 10. Conclusion…………………………………………………………………67
CHAPTER FOUR
CHALLENGES TO TAXATION OF ELECTRONIC COMMERCE IN NIGERIA
4.1. Introduction………………………………………………………………….68
4.2. Jurisdictional Challenge of Imposing Sales Tax on Electronic Commerce…….. 69

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4.3. Tax Avoidance and Tax Evasion in E-Commerce……………………………… 78
4.4. Residence Issues and Taxation of Electronic Commerce………………………. 83
4.5. Challenges in the Enforcement of Cyber Tax Legislation……………………. 87
4.6. Cybercrime as a Challenge to E-Commerce Taxation ……………………….. 89
4.7. The Challenges of Infrastructures……………………………………………. 91
4.8. The Challenge of Assessment and Computation…………………………….. 93
4.9. Skill and Knowledge of Electronic Commerce by Tax Authorities and officers…. 96
4.10. Conclusion………………………………………………………………………… 100
CHAPTER FIVE
SUMMARY AND CONCLUSION
5.1. Summary………………………………………………………………………….. 101
5.2. Findings…………………………………………………………………………… 105
5.3. Recommendations………………………………………………………………… 108
5.4. Concluding Remarks…………………………………………………………….. 109
BIBLIOGRAPHY

TABLE OF CASES
1. In Engineer Samuel Egbedina Akinbiyi v. Lagos Island Local Government Council
&Ors, ……………………………………………………………………………………..15
2. Aeromaritime Nigeria Limited v. Lagos State Board of Internal Revenue, ….15
3. Attorney General of Lagos State v. EcoHotels,…………………………………16
Mathew v. Chicory Marketing Board (1938) 6 CLR 263,270……………………… 33

4. Maine-v-Grand Trunk Ry.co 142 US. 217; 217-19 (1891)………………… 72
5. Ire-v-Dwce of Westminister……………………………………………………84
6. 7up Bottling Company Plc v-l-s-IRS…………………………………….……85
7. continental Sales Ltd v. R. Slipping Inc. ……………………………….…….86
8. Eco drill Nigeria Ltd v. AkwaIbom Board of Internal Revenue………….…….88

ABSTRACT
No doubt, the advent of Information and Communication Technology (ICT) has greatly impacted human interaction ranging from political, religious, social and business transaction. The Information and Communication Technology (ICT) has contributed in a no small measure to the advancement in business transaction as it has taken the manner and channel of commercial transaction beyond the traditional method. Electronic Commerce, though a terminology recently introduced to the psyche of the Nigerian commercial transaction, it is fast gaining ground as it has contributed to the Gross Domestic Development. However, instead of government at national and at international levels to be benefitting from e-commerce in term of revenue to the government, the reverse is the case. Globally, taxation is a vexed question, and taxing electronic commerce creates additional challenges. This notwithstanding, electronic commerce holds tremendous potentials as a formidable source of governmental revenue in the light of globalization and increasing automation of commercial transactions in Nigeria. National and states tax authorities are struggling to find mechanisms to collect the anticipated significant revenues derived from taxing e-commerce profit. Government is yet to feel the impact electronic commerce in terms of revenue generation to the government. Therefore, this work examined the factors proved to be responsible for this ugly situation ranging from the fact that there is no extant law regulating electronic commerce in Nigeria to the archaic law on taxation which makes it practically difficult if not impossible to bring cyber income within the tax box, the ubiquitous nature of cyberspace where this electronic commerce takes place is being exploited as an avenue to evade and avoid tax payment, non-characterisation of electronic commerce to e-commerce in tangible products, intangible products and in services. The work employed the doctrinaire research methodology in analysing some tax statutes relating to taxation, examining the challenges in taxation of e-commerce which includes difficulties in exercising jurisdiction to tax cyber income, displacement of physical presence in electronic transactions, difficulties in assessment and computation of cyber income and lack of wherewithal on the part of the tax authorities in tracing of electronic commerce. It is quite unfortunate that there is no extant law regulating e-commerce in Nigeria the result of which is loss of revenue to the government. The worked was concluded by recommendations which are as a matter of necessity required for effective and efficient means by which e-commerce can be taxed

Keywords: AN ANALYSIS OF REGULATORY REGIMES FOR THE TAXATION OF ELECTRONIC COMMERCE IN NIGERIA

 


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Keywords: AN ANALYSIS OF REGULATORY REGIMES FOR THE TAXATION OF ELECTRONIC COMMERCE IN NIGERIA

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