The Effect of Poor Implementation of Tax Policies on Developing Economies. A study of Nigerian Economy, (1999-2010)

A tax policy represents key resource allocator between the public and private sectors in a country. It is usually imposed on individuals and entity that make up a country. The funds provided by tax are used by the states to support certain state obligations such as education systems, health care systems, pensions for the elderly, unemployment benefits, and public transportation.

A nation’s tax system is often a reflection of its communal values or the values of those in power. To create a system of taxation, a nation must make choices regarding the distribution of the tax burden, who will pay taxes, how much they will pay and how the taxes collected will be spent. In Nigeria, the taxation system dates back to 1904 when the personal income tax was introduced in Northern Nigeria before the unification of the country by the colonial masters. It was later implemented through the Native Revenue Ordinances to the western and Eastern regions in 1917 and 1928, respectively.

Parochial Political Culture: The Bane of Nigeria Development

Nigeria is a rich country whose economy has been mismanaged over the years. The excellent investment opportunities have been affected by unstable political atmosphere and threats to security of life and property (Abimboye, 2010:18). Nigeria has been crawling development wise when it should be running fast after her independence. President Jonathan saw the failure of leadership as the greatest obstacle to the desired growth-political and economic. This statement falls in line with the views of those Western European leaders of the 1930’s who believed that the economic system would be favourable if only earnest and God fearing men are in command of its destinies.

Benchmarking the World’s Leading Pension Funds: How Fares the Government Service Insurance System of the Philippines

This practical research looks into the application by the government service insurance System (GSIS) of the Philippines of responsible investment strategies espoused in the delivery of social security benefits by the leading public pension funds in the world.

Two of these, namely the ABP (Stichting Pensioenfonds) of The Netherlands and the California public employees’ retirement system (CalPERS) of the USA, are in focus here. This study was undertaken to highlight the performance of the GSIS Pension Fund as a business case and to evaluate the sustainability of the GSIS fund management practices vis-à-vis responsible investment strategies that have been espoused by the leading pension funds of the world.

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