Impact of non-oil tax revenue on economic growth in Anglophone and Francophone countries
Department of Economics, Enugu State University of Science and Technology, Nigeria.
Research Article
World Journal of Advanced Research and Reviews, 2023, 18(02), 671–681
Article DOI: 10.30574/wjarr.2023.18.2.0882
Publication history:
Received on 06 April 2023; revised on 12 May 2023; accepted on 15 May 2023
Abstract:
This study examined the impact of non-oil tax revenue on economic growth in Anglophone and Francophone countries. Specifically, the study sought to: ascertain the impact of capital-gain tax revenue on economic growth in Anglophone and Francophone countries; determine the impact of custom/excise tax revenue on economic growth in Anglophone and Francophone countries and evaluate the impact of property tax revenue impact on economic growth in Anglophone and Francophone countries. The variables used in the study were capital gain tax revenue (CGT), custom/excise tax revenue (CET), the property tax revenue (PRT) and real GDP growth and were collected over period of 1991 to 2021 from World Bank database (WDI) 2021. Sample of five (5) Anglophone and Francophone countries namely Nigeria, Ghana, Mali, Togo and Burkina-Feso out of twenty (20) Anglophone and Francophone countries were used in the study. The method of data analysis was Generalized panel least square. The empirical results showed that capital gain tax revenue (CGT) has positive and significant impact on economic growth in Anglophone and Francophone countries; property tax revenue (PIT) has positive and significant impact on economic growth in Anglophone and Francophone countries and custom/excise tax revenue (CET) has positive but insignificant impact on economic growth in Anglophone and Francophone countries. The study recommended that Government of Anglophone and Francophone countries should review capital-gain income tax (CGT) collection modality with a view of incorporating public enlightenment programme in respect to capital-gain income tax. The public enlightenment programme should involve awareness campaigns on who should pay, how to compute, where to pay and when to pay CGT.
Keywords:
Non-oil Tax Revenue; Property Tax; Capital Gain Tax; Custom/Excise Tax
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