Tax Planning Strategies and Financial Performance of Listed Deposit Money Banks in Nigeria

Ojo Godfrey Osayemwenre; Eke Robert Ike

Title:
Tax Planning Strategies and Financial Performance of Listed Deposit Money Banks in Nigeria

Authors:
Eke Robert Ike | Ojo Godfrey Osayemwenre

Cite This Article :

Eke Robert Ike | Ojo Godfrey Osayemwenre "Tax Planning Strategies and Financial Performance of Listed Deposit Money Banks in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-5, October 2023, pp.343-355, URL: https://www.ijtsrd.com/papers/ijtsrd59931.pdf

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Abstract :
The study examined the impact of tax planning strategies on financial performance of listed deposit money in Nigeria. The expost facto research design was adopted and data was gotten from annual report of listed deposit money banks in Nigeria. A total of fifteen (15) listed deposit money banks was sampled from the period of 2017-2022. The hypotheses was tested with the panel least squares. The study found that there is positive and significant relationship between effective tax rate and return on equity of quoted banks in Nigeria. Secondly, the study found that there is positive and significant relationship between thin capitalization and return on equity of quoted banks in Nigeria. Lastly, the study found that there is no significance relationship between capital intensity and return on equity of quoted banks in Nigeria. The study concluded that effective tax rate and thin capitalization strategies have an impact on financial performance of listed deposit money banks in Nigeria; while capital intensity strategies have no impact on financial performance of listed deposit money banks in Nigeria. Based on the finding of this study, it was recommended that management of listed deposit money banks in Nigeria should sustain the current effective tax rates policies in order to improve their financial performance in terms of return on equity.

Keywords :
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Publication Details:

Unique Identification Number : IJTSRD59931

Published In : Volume-7 | Issue-5, October 2023

Page Number(s) : 343-355

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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