KWIR QUIZ

What are some of the impacts of taxation on economic development?

• Encouraging savings and investment

• Reducing government revenue

• Stifling entrepreneurship and innovation

• Decreasing public infrastructure development

What are some of the issues and challenges associated with tax systems in Nigeria?

• Complex tax laws and regulations

• Low tax compliance rate

• nadequate tax administration capacity

• All of the above

When did the history of taxation begin in Nigeria?

• 1960

• 1914

• 1999

• 1979

Which of the following is not a characteristic of tax?

• Compulsory payment

• Imposed by the government

• Used to fund public expenditures

• Voluntary contribution

Which of the following is a form/kind/type of tax?

• Income Tax

• Sales Tax

• Property Tax

• All of the above

Who is responsible for tax administration at the federal level in Nigeria?

• Federal Inland Revenue Service (FIRS)

• State Internal Revenue Service (SIRS)

• Local Government Revenue Service (LGRS)

• Ministry of Finance and Economic Development

What are the laws governing tax administration in Kwara State and Nigeria?

• Kwara State Internal Revenue Service (KW-IRS) Act

• Companies Income Tax Act

• None of the above

• All of the above
  

What are tax exemptions?

• Revenue generation for the government

• Reduction of tax liability

• Complete waiver of taxes

• Deductions allowed against taxable income

What is tax refund/rebate?

• Additional tax payment required

• Repayment of excess tax paid

• Reduction of tax liability

• Complete waiver of taxes

What is tax assessment?

• Process of calculating tax liability

• Determination of tax rates

• Verification of tax returns