Whandhey95
Dec 13, 2018
Scholarship / Potential contribution that you'll make to international development if you're awarded a scholarship [4]
[i]Commonwealth Scholarships in the UK are funded by the UK Department for International Development (DFID). An important selection criterion is the potential contribution that you will make to international development if you are awarded a scholarship.
I am in the process of submitting my application and will appreciate it if my development impact essay is reviewed. Thank you!!!
The Nigerian economy experienced a near collapse due to the rapid decrease in the price and demand for petroleum over the last few years. The Nigerian government, since crude oil was discovered in 1956, has heavily relied on crude oil sales proceed as a primary income source thus neglecting other sources of income stipulated in the constitution.
Also, the rising cost of governance has in no way alleviated this challenge, thus making it of necessity for the government to consider new alternatives in raising funds or to become aggressive and creative in the collection of revenue from existing sources. One of these sources being tax.
Tax is the most certain and consistent source of income because every government possesses the inherent power to impose and collect tax. It is because of this that Benjamin Franklin's aphorism that, "In this world, nothing can be said to be certain, except death and taxes" can be considered to be valid. Any government particular about economic growth and development will ensure that the tax system put in place is effective and efficient.
Promoting economic development in low and middle income countries is key to advocating global prosperity. I share a similar view with the Department for International Development that, a major way to foster economic development in developing countries like Nigeria is to encourage raising revenue internally. Tax being the most important though traditional source of finance.
The government has since adopted several strategies to harness the benefits of tax. However, the use of tax professionals have not been emphasized. For this reason, I embarked on researching the role of tax consultants in tax revenue generation in my final year, and decided to study for a master's degree in accounting and finance with the aim of specializing in tax.
When I return home, I will make the findings of my dissertation available to the government, so that they can be incorporated into the existing revenue generating strategies. I anticipate that the 10-year period following their implementation will cause tax revenue to increase exponentially.
The Nigerian government is the first beneficiary of my proposed research. When the government is able to raise more funds internally, infrastructures will be developed to encourage foreign investments in Nigeria which in turn will translate to good roads, constant power supply, reduction in the unemployment rate which among other issues are the major challenges of the average Nigerian.
By publishing research articles and authoring taxation texts, I hope to enrich the educational curriculum on taxation. These will make resources available to future researchers and also aid the understanding of taxation in educational institutions.
I will collaborate with the Department for International Development (DFID) as a means of ensuring that the impact of my work is measured by the Commission. In conjunction with the DFID, I will conduct tax training and seminars on contemporary tax issues for the staff of the tax authorities. I also expect that I will be able to provide my expertise towards tax policy development.
COMMONWEALTH DEVELOPMENT IMPACT
[i]Commonwealth Scholarships in the UK are funded by the UK Department for International Development (DFID). An important selection criterion is the potential contribution that you will make to international development if you are awarded a scholarship.
I am in the process of submitting my application and will appreciate it if my development impact essay is reviewed. Thank you!!!
The Nigerian economy experienced a near collapse due to the rapid decrease in the price and demand for petroleum over the last few years. The Nigerian government, since crude oil was discovered in 1956, has heavily relied on crude oil sales proceed as a primary income source thus neglecting other sources of income stipulated in the constitution.
Also, the rising cost of governance has in no way alleviated this challenge, thus making it of necessity for the government to consider new alternatives in raising funds or to become aggressive and creative in the collection of revenue from existing sources. One of these sources being tax.
Tax is the most certain and consistent source of income because every government possesses the inherent power to impose and collect tax. It is because of this that Benjamin Franklin's aphorism that, "In this world, nothing can be said to be certain, except death and taxes" can be considered to be valid. Any government particular about economic growth and development will ensure that the tax system put in place is effective and efficient.
Promoting economic development in low and middle income countries is key to advocating global prosperity. I share a similar view with the Department for International Development that, a major way to foster economic development in developing countries like Nigeria is to encourage raising revenue internally. Tax being the most important though traditional source of finance.
The government has since adopted several strategies to harness the benefits of tax. However, the use of tax professionals have not been emphasized. For this reason, I embarked on researching the role of tax consultants in tax revenue generation in my final year, and decided to study for a master's degree in accounting and finance with the aim of specializing in tax.
When I return home, I will make the findings of my dissertation available to the government, so that they can be incorporated into the existing revenue generating strategies. I anticipate that the 10-year period following their implementation will cause tax revenue to increase exponentially.
The Nigerian government is the first beneficiary of my proposed research. When the government is able to raise more funds internally, infrastructures will be developed to encourage foreign investments in Nigeria which in turn will translate to good roads, constant power supply, reduction in the unemployment rate which among other issues are the major challenges of the average Nigerian.
By publishing research articles and authoring taxation texts, I hope to enrich the educational curriculum on taxation. These will make resources available to future researchers and also aid the understanding of taxation in educational institutions.
I will collaborate with the Department for International Development (DFID) as a means of ensuring that the impact of my work is measured by the Commission. In conjunction with the DFID, I will conduct tax training and seminars on contemporary tax issues for the staff of the tax authorities. I also expect that I will be able to provide my expertise towards tax policy development.