ABSTRACT
The objective of this research is to evaluate the impacts of
Value Added Tax (VAT) on the Nigeria economy. The in this work identified the
reasons for replacing sales tax with Value Added Tax as well the distinguishing
factors between withholding tax and VAT. In the course of this research work,
questionnaires were administered, data were collected and analyzed through oral
interview, and simple percentage for companion, while the use of statistical
tool called chi-square was for testing the hypothesis formulated which stood
the test of time. The following findings were made; the economic growth of
Nigeria has been enhanced through the contributions of Value Added Tax (VAT);
the introduction of VAT into the Nigeria economy has led to a level of
reduction in the level of unemployment in the country. In view of the above
findings, the researcher concludes that, Value Added Tax (VAT) has both
positive and negative effects in the Nigeria economy. Finally, the researcher recommends
that public enlightenment programmes should be organized at the threetier
levels of government to initiate the populace with the operations of VAT; more
VAT local offices should be established in all the local government
headquarters to enhance the effective checks and balance should be put in place
to ensure proper recording and maintenance of account books and records by the
Federal Inland Revenue Service (FIRS) for probity and accountability.
OTI, U (2021). The Impact Of Value Added Tax (Vat) On The Nigerian Economy. Mouau.afribary.org: Retrieved Nov 28, 2024, from https://repository.mouau.edu.ng/work/view/the-impact-of-value-added-tax-vat-on-the-nigerian-economy-7-2
UDO, OTI. "The Impact Of Value Added Tax (Vat) On The Nigerian Economy" Mouau.afribary.org. Mouau.afribary.org, 14 Oct. 2021, https://repository.mouau.edu.ng/work/view/the-impact-of-value-added-tax-vat-on-the-nigerian-economy-7-2. Accessed 28 Nov. 2024.
UDO, OTI. "The Impact Of Value Added Tax (Vat) On The Nigerian Economy". Mouau.afribary.org, Mouau.afribary.org, 14 Oct. 2021. Web. 28 Nov. 2024. < https://repository.mouau.edu.ng/work/view/the-impact-of-value-added-tax-vat-on-the-nigerian-economy-7-2 >.
UDO, OTI. "The Impact Of Value Added Tax (Vat) On The Nigerian Economy" Mouau.afribary.org (2021). Accessed 28 Nov. 2024. https://repository.mouau.edu.ng/work/view/the-impact-of-value-added-tax-vat-on-the-nigerian-economy-7-2