Value added tax as medium of generating funds

Description

– Value added tax as medium of generating funds –

Download Value added tax as medium of generating funds. Students who are writing their projects can get this material to aid their research work.

Introduction

1.1 Background of the Study

Some years back, the agricultural sector was playing an important role in the Nigerian economy both in generating revenue and in the physical impact. This was before oil started its own impact on the economy.

The impact created by the oil sector began to be more relevant within a short period of time. Other sectors of the economy became secondary in terms of their relevance. The sectors were neglected in favor of oil.

Oil thus became the leading factor and the leading product in term of revenue generation and foreign exchange contribution. The condition of the economy became vulnerable to the condition of the world oil market from 1970 till date. The fluctuation of oil price in the world market has adverse effect on the Nigeria economy.

This is by diversifying the revenue generated based on the higher economy. The financial requirements of the government have been increasing over the years in facilitating the accomplishment of government functions. Worthy of mention in this connection is the effective way of revenue generation and collection by the government.

The idea of introducing value-added tax (VAT) was therefore considered and the Federal government finally approved its introduction. Value-added tax is therefore expected to increase and be effective, contribute towards enhancing the revenue generation base of the government.

The system is expected to minimize or eliminate the corrupt practices associated with revenue assessment and collection. The importance of revenue in any country and of course, Nigeria cannot be overemphasized.

Revenue has been the bedrock of government performance. The history of revenue in Nigeria dated to the pre-colonial era when tax and levies were paid to the fathers or lords as the case may be, to Oba’s, Kings, Emirs.

The tax or levies were being paid in cash or in-kind during the pre-colonial era. It was used to support the sustenance of the colonial administration. It has even been used to mobilize farmers into cash crop production mainly for the colonial export through the use of the cash taxes.

Even after independence, tax has played an important role in generating revenue for the government. It is used for the running of the affairs of the post-independence government in Nigeria.

Furthermore, it has also been used to achieve other policies such as the protection of the infant industries, income re-distribution, checking and controlling the consumption of some certain goods. Etc. it is therefore very much likely that it will continue to play a very important role in Nigeria economy.

How to Download this Project Material

First, note that we are one of the best and most reliable online platforms because we don’t retain any of your personal information or data as regards making payments online.

PRICE: ₦3,500 ₦3,000  (Three Thousand Naira Only)

Make a bank deposit or mobile transfer of ₦2,000 only to the account given below;

---

Bank Name: UBA Account Number: 1022564031 Account Name: TMLT PRO SERVICES

---

After making the payment, CLICK HERE to send the following on WhatsApp;

• Depositor’s Name or Screenshot of Payment
• Name of the Past Question
• Active Email Address

---

or Call Us On +2348082284439 Once your details have been received and your payment confirmed by us, you will receive the past question in your email or WhatsApp within 5 Minutes.

Guarantee of Getting the Material 

We understand that due to the high rate of fraud, many people are afraid of making purchases online but be rest assured that PastExamQuestions will deliver your material after payment.

Once your details have been received and your payment confirmed by us, you will receive the past question in your email or WhatsApp.

Give us Feedback

Have we been able to satisfy you? How well do you think the material will be helpful after having gone through it? Does the price worth the material?

Let’s hear from you! We recommend that our customers give feedback at the end of every transaction to enable us to serve better. You can do this by clicking the review button on this page.

Where is the review button? >> Just scroll up to where you see reviews