ABSTRACT
The
study investigated the effect of value added tax on nigerian economic
performance. It utilized time series data from 2000-2016 extracted from CBN
statistical bulletin, National Bureau of Statistic and various reports of the
Federal Inland Revenue Service. It extracted real gross domestic product,
inflation rate and unemployment rate as proxies for economic performance while
value added tax revenue was used as the independent variable. It adopted ex
post facto research design to establish the relationship of the variables. The
ordinary least squares method of simple regression technique was engaged to
analyze the data. It was found that there is positive significant effect of
value added tax revenue on economic growth of Nigeria. Value added tax revenue
has significant effect on economic growth of Nigeria at less than 5% level of
significance. It also established that there is no significant effect of value
added tax revenue on inflation rate in the economy of Nigeria and that there is
positive significant relationship between value added tax revenue and
unemployment rate in Nigeria. The study found that the effect of value added
tax revenue is significant on unemployment rate in Nigeria at 5% level of
significance and therefore concluded that the is long run equilibrium
relationship between value added tax and economic performance of Nigeria. The
study therefore recommends that Government should engage the revenue collected
from value added tax for specific programmes that would yield benefit for the
economy so as to enhance its growth rate, Government should differentiate the
value added tax rate of some consumables such as tobacco and alcohol by
increasing the rate on the products and that they should provide the enabling
business environment to enhance growth in the private sector to provide job
opportunities.
CHIEMELA, C (2022). Effect Of Value Added Tax Revenue On Nigerian Economic Performance (2000-2016). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-value-added-tax-revenue-on-nigerian-economic-performance-2000-2016-7-2
CHRISTIAN, CHIEMELA. "Effect Of Value Added Tax Revenue On Nigerian Economic Performance (2000-2016)" Mouau.afribary.org. Mouau.afribary.org, 05 Oct. 2022, https://repository.mouau.edu.ng/work/view/effect-of-value-added-tax-revenue-on-nigerian-economic-performance-2000-2016-7-2. Accessed 31 Oct. 2024.
CHRISTIAN, CHIEMELA. "Effect Of Value Added Tax Revenue On Nigerian Economic Performance (2000-2016)". Mouau.afribary.org, Mouau.afribary.org, 05 Oct. 2022. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-value-added-tax-revenue-on-nigerian-economic-performance-2000-2016-7-2 >.
CHRISTIAN, CHIEMELA. "Effect Of Value Added Tax Revenue On Nigerian Economic Performance (2000-2016)" Mouau.afribary.org (2022). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-value-added-tax-revenue-on-nigerian-economic-performance-2000-2016-7-2