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ABSTRACT
Globally, taxation is the nucleus and the path to development because it is one of the formidable options to generate revenue by the government. The principle that taxation requires the consent of the legislature has become well established in virtually all jurisdictions. This principle inter alia ensures certainty in the level of financial distribution within the jurisdiction and perhaps beyond. Taxation is the nucleus and the path to modern development because it is one of the formidable options to generate revenue for the government. The importance of taxation lies primarily in its ability to raise capital formation of government. Unfortunately, there still exits a big gap in the ability of the government of Nigeria at federal, state and local government levels to generate substantial revenue for their developmental needs through taxation. The reason for the near failure of taxation in Nigeria is diverse and multi-faceted. However, the defect in laws upon which taxation is based may be major reasons. Thus, the objective of this study is to identify the various laws that govern taxation in Nigeria; the defects in the laws and how the defects in these laws have inhibited tax revenue in Nigeria.
