THE EFFECT OF VALUE ADDED TAX ON REVENUE GENERATION IN NIGERIA (2011 – 2016)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out to examine the effect of Value Added Tax (VAT) on revenue generation in Nigeria (2011 – 2016). Specifically, the study examined effect of Value Added Tax on Revenue Generation in Nigeria, the benefits of VAT as a source of revenue in Nigeria, and the challenges of VAT as a source of revenue in Nigeria. The study employed the survey descriptive research design. A total of 32 responses were validated from the survey. From the responses obtained and analysed, the findings revealed that VAT is an important source of revenue in Nigeria. The findings also revealed that Inaccurate computation of Value Added Tax figures, Incompliance of infant industries with Value Added Tax Directorate, Illiteracy of some rural areas about Value Added Tax, Lack of information on VAT to new industries and Incomplete information in the tax invoice of a customer are among the challenges of VAT in Nigeria.
The study recommend there should be stringent penalty imposed on any individual or corporate body who indulge in any form of VAT malpractices irrespective of states, if the high correlation between VAT and Overall Tax Revenue in Nigeria should be maintained. More so, government through Federal Inland Revenue Service should create an effective and reliable data base for every vatable persons to minimize (if not eliminate) the incidence of tax evasion. In the same vein, the entire tax system should be overhauled to discourage tax avoidance as VAT payers are ever willing to take advantage of loopholes in the tax system to reduce their tax liabilities
Related Project Materials
STUDY OF THE ATTITUDE OF SECRETARIES TOWARDS THE USE OF MODERN OFFICE MACHINES IN SOME SELECTED COMMERCIAL BANKS
ABSTRACT
This project is aimed at studying the attitude of secretaries towards the use of modern office machines.In the course of carryin...
THE NECESSITY OF CORPORATE SOCIAL RESPONSIBILITY FOR ORGANIZATIONAL GROWTH
ABSTRACT
This study was carried out to examine the necessity of corporate social responsibility fo...
THE EFFECTS OF EARLY CHILDHOOD EDUCATION ON CIVIC ENGAGEMENT IN DIVERSE COMMUNITIES
ABSTRACT: This study examined the Effects of Early Childhood Education on Civic Engagement in Diverse Commun...
THE PREREQUISITES OF A VALID WILL A CRITICAL ANALYSIS
STATEMENT OF THE PROBLEM
Research has found that there are so man...
TEACHING PRACTICE EXPERIENCES OF TECHNICAL EDUCATION STUDENT-TEACHERS: CHALLENGES AND POSSIBLE PANACEA
Abstract
The purpose of the study is to identify the challenges facing student teachers of College of S...
THE INFLUENCE OF ORGANIZATIONAL CULTURE ON PROJECT MANAGEMENT PRACTICES
Abstract: This study examines the influence of organizational culture on project management practices, aimin...
INNOVATIVE TECHNOLOGIES AS A CORRELATION OF LIBRARY SERVICE DELIVERY IN THE BELLS UNIVERSITY, OTA, OGUN STATE
BACKGROUND OF THE STUDY
Libraries are mainly entrusted with a host of predetermined tasks like acquirin...
FINANCIAL MANAGEMENT STRATEGIES IN THE HEALTHCARE INDUSTRY
Abstract: FINANCIAL MANAGEMENT STRATEGIES IN THE HEALTHCARE INDUSTRY
This research explores financial management strategies in the health...
DEVELOPMENT OF A MODIFIED REAL-TIME FAULT-TOLERANT TASK ALLOCATION SCHEME FOR WIRELESS SENSOR NETWORKS
ABSTRACT
This research aimed at the development of a modified real-time fault-tolerant task allocation scheme (mRFTAS) for wireless senso...
INFLUENCE OF JOB CHALLENGES AND GOAL AMBIGUITY ON THE PSYCHOLOGICAL WELL BEING OF EMPLOYEES OF CHAMPIONS BREWERIES
ABSTRACT
Job challenges and goal ambiguity are important areas of study to human resource researchers and practition...
