This study undertakes a review of contemporary issues in Corporate Income Tax practices in Nigeria against the background of Nigeria’s economy being generally characterized by low tax compliance and enforcement. All resident corporate entities are required to pay tax on all incomes or profits made by them from a source within and outside Nigeriato the federal government (CITA, 2007). However, if such corporate entities are resident outside Nigeria, only the income attributable to their operations in Nigeria is taxable. Low tax compliance is a matter of grave concern in many countries especially developing ones like Nigeria because it limits the capacity of their respective governments to raise revenues for development purposes. There is no gainsaying the fact that tax enforcement has become an essential aspect of tax administration in view of the ingenious ways corporate taxpayers undermine the revenue generation process by not remitting what is due to government (Gwangdi and Garba 2015). This study reviews extant provisions on tax reliefs and incentives applicable to corporate entities to facilitate voluntary compliance and recommendations are made on enhancing the successful implementation of theVoluntary Assets and Income Declaration Scheme (VAIDS) and improve the corporate income tax culture in order to enhance the gross domestic product
Keywords: Company Income Tax, Tax Compliance, and Tax Administration., the Economy
