BOARD ATTRIBUTES AND TAX AVOIDANCE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA

The study examined the effect of board attributes on tax avoidance of listed industrial goods firms in Nigeria. Data for the study were sourced solely from secondary sources extracted from annual reports and accounts of the studied industrial goods firms for the period 2012 to 2022. Panel regression analysis was applied to analyse the data. The study documented that board attributes have varied effects on the tax avoidance of the sampled listed industrial goods firms in Nigeria; where board size and board independence exert positive and insignificant effects on the cash effective tax rate (CETR), while gender diversity and board financial expertise depict negative and significant effects on the CETR. The study recommended that the management of the industrial goods firms should conduct a comprehensive assessment of the board size in relation to the firm's operational complexity and strategic needs and evaluate the effectiveness of board committees and subcommittees in managing tax-related matters. The management should also review the current composition of the board to ensure a substantial number of independent directors and strengthen their roles and influence in strategic tax avoidance decisions. The study also recommended that Industrial goods firms should identify gaps in the current board's financial expertise and consider appointing directors with a strong background in taxation, finance, and accounting. Firms should provide on-going training and development opportunities for board members to enhance their understanding of tax avoidance strategies and implications.