AN EXPOSITORY REVIEW OF CHECKING INCIDENCE OF TAX EVASION AND TAX AVOIDANCE: NIGERIAN EXPERIENCE

Abstract

The paper aims to examine the legal views of Nigeria's control of the incidences of tax evasion and tax avoidance. In an effort to achieve these goals, a doctrinal research methodology is used in which relevant primary and secondary source materials were used. This includes a critical review of  relevant  jurisprudence,  statutory  provisions,  and  academic  literature.  A  contextual  and descriptive analysis was performed on the information obtained through these sources. Finally, the paper  reaches  its  findings  by  revealing  that  tax  avoidance  and  tax  evasion  impede  foreign investment and even discourage local business from flourishing. Therefore, the paper recommends that  the  current  penalty  regime  in  contemporary  Nigeria  does  not  catch  up  with  social  and economic changes. The penalties are now overdue and should be beefed up to effectively deter tax evaders and avoiders.