Corporate tax-mix, firm attributes and firm performance of listed non-financial companies in Nigeria

Abstract

This study is centered on the prevalent contemporary issue of corporate tax mix, firm attribute and firm performance of listed non-financial companies in Nigeria. It used a panel research design and secondary source of data for 36 selected samples of non-financial companies trading at the Nigeria stock exchange group which make accounts to 31st December each year. The study covered an eight years period from 2015 to 2022. The study used descriptive methods and inferential statistical analytical techniques to determine the reliability and predictive power of the model in enhancing judgment of acceptance or rejection of the null hypothesis using a panel least square regression method. The inferential statistics required the use of the panel least square regression that has random effect which is used to test the hypothesis with the aid of the P-Value. The result shows that company income tax, leverage has a positive association and significant impact on firm performance. Firm size determines firm performance but the association negative with coefficient, effective tax rate has a negative relationship with an insignificant impact on firm performance with coefficient value of -0.094057 and a P-value of 0.2958. Tangibility and firm age exhibited a positive association and an insignificant impact on firm performance of listed non-financial companies. This study recommends that corporate managers of listed firms should use the service of tax consultants that has requisite knowledge of loopholes in the Finance Act (2021) that reduces company income tax liabilities through tax incentive strategies, tax wavers, tax avoidance strategies which enhances firm performance.