The Effect of Tax Management on Corporate Wealth Maximization in Nigeria

Author: Omolara Agnes Durotola, Adeadebayo Abdulkabir Shuaib, Adeniyi Sarafadeen Diran, Murtadho M. Alao

Abstract

This research was carried out on the topic the effect of tax management on corporate wealth maximization in Nigeria. The researcher became interested in the topic because of the avoidable interest and penalties paid by some corporate organisations in Nigeria that erodes corporate wealth while the companies focused on achieving wealth through improved turnover and management of operating expenses. Using mean score and chi-square inferential statistical analysis, the study analysed the responds from questionnaires administered to respondents from three selected firm of chartered accountants in Abuja, Nigeria. It was discovered that tax management has positive effect on corporate wealth maximization. It was recommended that company should look inward towards adequate tax management as a means for wealth maximisation and ensure that tax returns and payment are done within the statutory due dates to avoid unnecessary fines and penalties that erode corporate wealth.