ABSTRACT
This research work aims at evaluating the role and significance of the Value Added Tax (VAT) Act in Revenue Generation in Nigeria. This examines the role played by the Value Added Tax as one of the source of government‟s revenue. It also assesses the fact whether it has achieved the essence of its introduction. In this research doctrinal method of research was adopted in discussing the subject matter. This work delved into the legal framework of value added tax in Nigeria. The institutional structures for the administration of Value Added Tax were analysed with the aim to assessing their efficacy in revenue generation. It also took a cursory look at the assessment procedure of Value Added Tax. It was discovered in the course of the research that the law in Nigeria on VAT is faced with the problem of absolute tax practices, whereby taxes overlap, so that a single transaction may be subjected to a series of taxes e.g VAT on imported goods and Excise and Custom duty. The work found out that the punitive measures under the taxing law is not for deterrence but aimed at extinguishing small scale enterprises. The work recommended that the National Assembly should review the punishments in the Value Added Tax Act to accommodate it basic reasons which are reformation and deterrence. The punitive measures should aim at reforming the vatable persons to ensure voluntary tax compliance than pushing them out of the business. This work shall be of immense benefit to students of law, legal practitioners, legislators, academia and judges.
ABSTRACT
One of the most commonly discussed issues in Economics is how tax rates relate to economic growth....
AN ASSESSMENT OF PUBLIC SECTOR AUDITING AND ACCOUNTABILITY MECHANISMS
This study examines public sector auditing and acc...
Background Of The Study
Over the last few decades, the phenomenon of child labour has become prominent globally with ser...
ABSTRACT
The purpose of the study is to investigate the effects of electronic banking on organizational performance at case study of Dang...
Background of the Study
I...
EVALUATING VISUAL ELEMENTS ON POSTERS AND BILLBOARDS IN EVOKING EMOTIONAL REACTIONS
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Abstract This study is carried out to find the problems of cooperative in the marketing of agricultural...
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MANAGING RURAL DEVELOPMENT THROUGH INDUSTRALIZATION (A CASE STUDY OF AWGU LOCAL GOVERNMENT AREA)
PRIOR KNOWLEDGE AND PERCEPTIONS OF DRUG ADDICTS ON PSYCHOACTIVE SUBSTANCE ABUSE INFORMATION COMMUNICATED BY NDLEA IN NIGERIA