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Mineral resources are an important source of revenue for developing nations. Royalties are one method of receiving payment for allowing investment, but often foreign companies send profits out of the country. Taxation is one method to increase revenue, investigate the implementation of a profit tax and propose a model to reclaim some of the outflowing income, whilst still making investment in to the developing country attractive to foreign mining companies. Show reasoning as to why you have choosen the model and provide a worked example of its application.Abstract: This study investigates the impact of petroleum profit tax on the economic growth of Nigeria. To achieve the objective of this paper, relevant secondary data were collected from the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Service (FIRS) from 1970 to 2010. The secondary data collected from the relevant government agencies in Nigeria were analysed with relevant econometric tests of Breusch-Godfrey Serial Correlation LM, White Heteroskedasticity, Ramsey RESET, Jarque Bera, Johansen Co-integration and Granger Causality. The results show that there exists a long run equilibrium relationship between economic growth and petroleum profit tax. It was also found that petroleum profit tax does granger cause gross domestic product of Nigeria. On the basis of the empirical analysis, the paper concludes that petroleum profit tax is one of the most important direct taxes in Nigeria that affects the economic growth of the country and therefore should be properly managed to reduce the level of evasion by petroleum exploration companies in Nigeria. The paper recommends among others that companies involved in petroleum operations should be properly supervised by the relevant tax authority (FIRS) to reduce the level of tax evasion; government should show more accountability in the management of tax revenue and finally, the level of corruption in Nigeria and that of government officials should be drastically reduced to win the confidence of tax payers for voluntary tax compliance.
Mr.Fritz wishes to purchase a bond having a face value of $1000 and a bond rate of 8% payable annually. The bond has a remaining life of 12 years. In order to earn 10% rate of return on the investment, what amount should be paid for the bond?
If the substitution effect dominates the income effect, then as increase in the wage rate will increase the quantity of labor supplied by an individual. The more complicated a production process is
market failure poverty and income inequalitylisted below are several summary statements from the 2010 census reportthe
The firm wants to provide a semiannual award of $4500. The foundation will deposi the company's endowment in a fund that pays 3.75% compounded semiannually. The first aware will be made in 14 months. Calculate the size of the endowment that will be..
Do the utility maximizing amounts of X1 and X2 change if P1 increases to 5 while P2 stays constant at 5? Why or why not? Do the utility maximizing amounts of x1 and x2 change if P2 increases to 9 while P1 stays constant at 4? Why or why not? For a ..
Explain the relationship between total, average, and marginal concepts and how these measures are important to optimization examine
Illustrtae what is the current cost of a share of stock for a firm with $5 million in balance-sheet equity.
1. Quasimodo consumes earplugs and other things. His utility function for earplugs x and money to spend on other goods y is given by u(x, y) = 100x - x^2/2 + y. (a) What kind of utility function does Quasimodo have?
Compute the incremental gain Fluff Rite would earn by customizing its poppers and marketing directly to retailers.
Explain and discuss the mechanisms by which this has occurred, and contrast our experience with: a) the recent performance of many NICs (newly-industrializing-countries) in the last few decades
The problem belongs to Economics and the problem is about a report on the 2008 National Trade Estimate Report on Foreign Trade Barriers on specific country.
The U.S. government spends over $15.8 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food.
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