Analysis of the impact of value added tax (vat) on nigeria economy

 

Table Of Contents


  • <p> </p><p>

Chapter ONE

INTRODUCTION

  • </p><p>Introduction</p><p>
  • 1.1…. Background of the Study</p><p>
  • 1.2…. Statement of the Problem</p><p>
  • 1.3…. Objectives of the Research Study</p><p>
  • 1.4…. Research Questions</p><p>
  • 1.5…. Research Hypothesis</p><p>
  • 1.6…. Significance of the Study</p><p>
  • 1.7Scope and limitations of the study</p><p>
  • 1.8…. Historical Background of Federal Board Inland Revenue</p><p>
  • 1.9…. Definition of Terms</p><p>

Chapter TWO

LITERATURE REVIEW

  • </p><p>Literature Review</p><p>
  • 2.1Introduction</p><p>
  • 2.2Genesis of value added Tax in Nigeria Economy</p><p>
  • 2.3The objectives and advantages of value added Tax</p><p>
  • 2.4types of value added Tax in Nigeria Economy</p><p>
  • 2.5An overview taxable goods and services in Nigeria Economy</p><p>
  • 2.6Value added Tax exemption in Nigeria Economy</p><p>
  • 2.7Determination of values of taxable goods and services</p><p>
  • 2.8The assessments of the value added tax (VAT) in Nigeria Economy</p><p>

Chapter THREE

RESEARCH METHODOLOGY

  • </p><p>Research Methodology and Design</p><p>
  • 3.1…. Introduction</p><p>
  • 3.2…. Research Design</p><p>
  • 3.3…. Population of the study</p><p>
  • 3.4…. Sample and sampling method</p><p>
  • 3.5…. Sampling Technique</p><p>
  • 3.6…. Restatement of research questions</p><p>
  • 3.7…. Data collection method</p><p>
  • 3.8…. Questionnaire design</p><p>
  • 3.9…. Method of data analysis</p><p>

Chapter FOUR

DATA PRESENTATION AND ANALYSIS

  • and Analysis</p><p>
  • 4.1Introduction</p><p>
  • 4.2Data analysis and questionnaire</p><p>
  • 4.3Test of hypothesis</p><p>

Chapter FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

  • </p><p>Summary of Finding, Conclusion and Recommendation</p><p>
  • 5.1Summary of Findings</p><p>
  • 5.2Conclusion</p><p>
  • 5.3Recommendation</p><p>Bibliography</p> <br><p></p>

Project Abstract

<p> The objective of this research work is to analyze the impact of value added Tax (VAT) using Federal Inland Revenue Service as a study. The objective of this study include the following to determine whether there is significant relationship between value added tax and the Federal generated revenue; to determine the impact of value added tax on prices of goods and services. The research methodology involves survey method of sample size of 52 and use of questionnaire with chi-square to test the hypothesis which led to the following findings; that VAT as non-oil revenue increases the government revenue on total revenue with better percentage and this reduces the dependence of government on oil revenue. Based on these findings, we recommended that the statutory provisions and amend all faces or areas of laws that could be subject to multiple interpretations. The staff should be with remunerated with up to date incentives and working benefit to avoid the act of conniving with VAT payers. <br></p>

Project Overview

<p> </p><p><strong>INTRODUCTION</strong></p><p><strong>1.1 BACKGROUND TO THE STUDY</strong></p><p>The essence of value Added Tax (VAT) In Nigeria in 1994 was to boost the revenue base of the government, re-activate the economy and as possible- reduce the poverty level by appropriately re­allocating resources from personal and private sections to promote growth and development. The adoption of this form of consumption tax was also necessitated by the decline in the oil revenue due to fluctuations in the price of oil in the international market, which makes the oil revenue insufficient to run the affairs of the government similarly the present non-oil revenue Sources mainly taxes are not enough to meet public needs, as expenditure continue to rise. Custom duties, which used to be an important source of government revenue in the 80’s have dwindled significantly.</p><p>However, custom duties provided 75 percent of Federal receipt in 1994 but decrease to 19 percent in 2003. Company income tax, which accrued to 32 percent of federally collected revenue in 1994 fell to 5 percent in Nigerians pay tax 50 increasingly. The bull: of the self-employed traders, farmers and businessmen evade taxes and would only pay flat rate levies when compelled.</p><p>More so, this gives personal income tax.</p> <br><p></p>

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