Özet:
The role of taxation on revenue generation and economic growth cannot be
underestimated. It was on this note, this study investigated taxation role on revenue
generation in Nigeria. Secondary data was used and sourced from Federal Inland
Revenue Service and Central Bank of Nigeria Statistical Bulletin between 2011Q1 and
2020Q4. The study employed descriptive analysis, Regression analysis, ARDL, and
VAR as the estimation techniques. The findings showed company income tax, value
added tax, petroleum profit tax, revenue generation were stationary after first
difference while capital gain tax was stationary at level. VAT contributes positively
and significantly on revenue generation, that is, when VAT increases by 1, the revenue
generation will increase with the value of 0.688648. Petroleum profit tax revealed a
significant positive impact on revenue generation in which an increase in PPT will
contribute 0.507721 to revenue generation. Company income tax contributes
positively to revenue generation, but it was significant. Capital gain tax exhibited a
negative impact on revenue generation significantly during the study period. It was
concluded that company income tax contributes more to revenue generation, followed
by petroleum profit tax, capital gain tax and value added tax. Meanwhile, in the long run, company income tax also contributes the highest percentage followed by
petroleum profit tax, value added tax and capital gain tax. Though, there was an
inconclusive relationship between the role of taxation and revenue generation that is,
no adequate report whether there is a long-run or short-run relationship
