Capital Gains Tax on Investment, Infrastructural Facilities Provision and Gross Domestic Products in Nigeria

Osho, Augustine E, Adeseyoju, Adeyemi A, Idowu, Abiodun S


This paper examined the influence of Capital Gains Tax (CGT) on Investment (INV), Infrastructural Facilities Provision (IFP) and Gross Domestic Products (GDP) in Nigeria. Ex-post facto research design was adopted with data obtained from Central Bank of Nigeria (CBN) Statistical Bulletin and Federal Inland Revenue Service (FIRS) tax reports, 2017. The data collected were presented in descriptive statistics and correlation analysis performed. Augmented Dickey Fuller (ADF) Unit Root test was used to ascertain the stationarity of variables, and the Johenson Co-integration trace and Eigenvalue test was used to show the long-run relationship of variables. The test of hypotheses using OLS regression models revealed that Capital Gains Tax is positively and significantly related to investment and infrastructural facilities in Nigeria. It is recommended that government should ensure that capital gains tax is properly administered, efficiently managed and accounted for, to enable the citizenry reap the benefits it confers on investments, Infrastructural facilities provision and gross domestic products in Nigeria.

Keywords: Capital Gains Tax, Gross Domestic Products, Infrastructural Facilities    Provision, Investment

DOI: 10.7176/JRDM/57-06

Publication date:July 31st 2019

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