Corporate Governance and Tax Avoidance: Evidence from Nigerian Quoted Food and Beverage Companies

Abstract

The study determine the effect of CEO duality on the effective tax rate of quoted foods and Beverage companies. Ex-post facto research design was adopted. A purposive sampling technique was applied in selecting nine (9) companies during the data collection process. Data were collected from annual reports and accounts of the sampled companies from 2013-2019. Data for the study analyzed using descriptive statistics and regression was used with aid of the e-view was at 95% confidence at five degrees of freedom (df). The result shows that CEO duality was significant and had a positive coefficient on tax planning of food and beverage companies in Nigeria. The study, therefore recommended that non-separation of CEO from Chairman of the Board may lead to higher levels of tax planning; and an opportunity for manager’s rent extraction, because of their dominating role to ensure that adequate oversight roles are separated.