Accounting and Social Implications of Twin Problem on the National Economy.

Abstract

The study focuses on the accounting and social implications of twin problem of tax avoidance and tax evasion on the national economy. The data for this study were generated through the use of questionnaires, six hundred were administered while four hundred and fifty were returned. The data returned were analysed through the use of Analysis of Variance (ANOVA) with the help of Statistical Package for Social Sciences (SPSS). It was discovered that shortfall in government revenue is as a result of tax avoidance and evasion which in turn leads to inability of the government to discharge her responsibility of provision of basic amenities to its citizenry. Based on these findings it was recommended that all cases of tax avoidance and evasion should be hence forth made public in order to serve as deterrent to others. Keywords- Accounting, funds, Tax avoidance, tax evasion, National economy,