ABSTRACT
On January first, 1994, a new term
VAT was added to the economic lexicon of Nigerians. VAT which stands for value
added tax is a multistage consumption tax imposed on value added to foods as
before and with the recent inclusion of newspapers, productions carried out in
Nigeria economy as they are rendered. The introduction of this tax gave
credence to the importance attached to taxation as one of the major source of
revenue in the country and as an agent of social change. This study is
therefore an attempt of appraise the problems any of prospect impact of value
added tax in revenue generation with particular reference in. to start with,
the researcher had to go through all the available material on the magazines
and article dealing on value added tax and other related topics. The review was
aimed at giving the render a fair idea of views drawn out from other writers on
the subject matter. The researchers work evaluated three VAT offices of federal
inland Revenue service in Abia State. For the purpose of the analysis,
different methods were used for the collection of data, such as oral
interviews, questionnaire, observations as well as surveys. These formed the
source of primary data. In the actual analysis of data and received from the
respondents 4 through questionnaires, while the hypothesis formulated were
subject to test significance using the chi-square text. Some recommendation
were made in the last chapter which could help harness the gains of the tax one
hand as well as to ameliorate the unidentified negative effects of the tax on
the other. At the end of the study, the following research fmdings and
recommendation were made: the administrative section of the board has
sufficient personnel to reply on. The infrastructural facilities are adequate
for the collection of VAT. The level of public awareness of VAT is not
encouraging. All the organization that register for VAT make remittance as at
and when due. The research hereby recommend as follows: The administration
machinery of VAT should be improved to eliminates leakage and other continued
weakness. Vatable industries should be made to claim credit input tax, when the
need arises.
OCHUBA, . (2021). The Effect Of Value Added Tax (Vat) On Revenue Generation. Mouau.afribary.org: Retrieved Nov 02, 2024, from https://repository.mouau.edu.ng/work/view/the-effect-of-value-added-tax-vat-on-revenue-generation-7-2
.J., OCHUBA. "The Effect Of Value Added Tax (Vat) On Revenue Generation" Mouau.afribary.org. Mouau.afribary.org, 04 Aug. 2021, https://repository.mouau.edu.ng/work/view/the-effect-of-value-added-tax-vat-on-revenue-generation-7-2. Accessed 02 Nov. 2024.
.J., OCHUBA. "The Effect Of Value Added Tax (Vat) On Revenue Generation". Mouau.afribary.org, Mouau.afribary.org, 04 Aug. 2021. Web. 02 Nov. 2024. < https://repository.mouau.edu.ng/work/view/the-effect-of-value-added-tax-vat-on-revenue-generation-7-2 >.
.J., OCHUBA. "The Effect Of Value Added Tax (Vat) On Revenue Generation" Mouau.afribary.org (2021). Accessed 02 Nov. 2024. https://repository.mouau.edu.ng/work/view/the-effect-of-value-added-tax-vat-on-revenue-generation-7-2