Abstract:
This study examined the correlation of voluntary tax compliance as a means for boosting tax revenue generation in Nigeria. The study is motivated by the bid to provide an insight into alternative ways of boosting tax revenue yields. It looks at the possibility of widening the tax base by bringing in the informal sector and high net individuals into the tax nets through voluntary tax compliance or enforce voluntary tax compliance. A survey design method was employed to sample opinions of respondents through the use of questionnaire, interviews and content analysis, which employ review of relevant books and articles on the subject of discussion. Descriptive statistic using mean, ordinary least square (OLS) regression method was equally used for data analysis. Findings from the study revealed that voluntary tax compliance and enforcing voluntary tax compliance are both capable of boosting tax revenue generation in the country. The study recommend the establishment of reward and honors scheme for all categories of taxpayers who are regular in the payment of their tax for a period of not less the 30yeras consecutively for national honors in order to encourage them and others to be compliant.
