Effect of Finance Act on the Minimization of Tax Conflict and Incidence of Double Taxation in Nigeria

This paper examined key contentious tax issues in Nigeria and the policy implication of resolving these issues using a fiscal instrument of the Finance Act. To achieve this objective, controversial tax issues in Nigeria ranging from tax legislation to administration and tax policy matters were examined from conceptual, theoretical and empirical perspectives utilizing dual research objectives, questions, hypotheses and theoretical underpinnings. The sample size of 217from estimated population of 500 using the Krejcie & Morgan sample size table at 0.5% was used for the study. Findings show a positive but insignificant effect of the Finance Act on tax conflict minimization in Nigeria. It also showed that the Finance Act has a significant effect on prevention of incidence of double taxation in Nigeria. It was therefore recommended that government needs to adopt conscious efforts to amend all conflicting areas in the tax law, plug possible loopholes by continuously reviewing and updating tax legislations in line with international best practice to ensure that the right amount of tax is remitted to Government treasury; and there is need to also promote efficient tax administration using technology so as to help minimize reoccurring tax conflict between the tax authorities and the tax payers as well as prevent double taxation of taxpayers.