{"id":6355,"date":"2022-10-17T08:03:38","date_gmt":"2022-10-17T08:03:38","guid":{"rendered":"https:\/\/file.currentschoolnews.com\/?post_type=product&p=6355"},"modified":"2022-10-17T14:00:42","modified_gmt":"2022-10-17T14:00:42","slug":"the-contribution-of-value-added-tax-vat-to-economic-development-of-nigeria-2007-2017","status":"publish","type":"product","link":"https:\/\/pastexamquestions.com\/product\/the-contribution-of-value-added-tax-vat-to-economic-development-of-nigeria-2007-2017\/","title":{"rendered":"\u00a0The Contribution of Value Added Tax (Vat) to Economic Development of Nigeria 2007 \u2013 2017"},"content":{"rendered":"
– \u00a0The Contribution of Value Added Tax (Vat) to Economic Development of Nigeria 2007 \u2013 2017 –<\/strong><\/span><\/p>\n Download The Contribution of Value Added Tax (Vat) to Economic Development of Nigeria 2007 \u2013 2017<\/strong><\/span>. Students who are writing their projects can get this material to aid their research work.<\/span><\/span><\/p>\n An evaluation of Value Added Tax by VAT Decree 102 of 1993 as a source of revenue to the federal government is important to both the government and the Nigerian public.<\/p>\n It has been the general belief that taxation is used by government to raise funds and also as a major fiscal tool for economic development. Taxation is aimed at redistributing income among the citizenry. Government introduced various tax policies for the enhancement of the standard of living of its citizens and economic development.<\/p>\n This project revealed that the revenue from the Value Added Tax (VAT) has been very encouraging. The VAT tax now appears to be second position i.e. after petroleum profits tax in the revenue accruing from tax.<\/p>\n If most of the problems highlighted in the study are taken care of one should not be surprised if Value Added Tax (VAT) takes the first position especially with the uncertainties about the price of crude oil in the international market.<\/p>\n So it is therefore recommended that Federal Inland Revenue Service should pay attention to the informal sector of the economy by creating Value Added Tax offices at the Local communities so as to generate more revenue and to fully achieve the objectives of wealth creation through Value Added Tax.<\/p>\n <\/span><\/a><\/p>\n 1.1 Background of the Study<\/strong><\/p>\n The administration of tax systems and the enthronement of a tax payment culture nationwide continue to challenge successive government in Nigeria.<\/p>\n One of the attempts to expand the tax net with minimum resistance and also to reduce tax evasion so that most of the tax income revenue would get to the government of Nigeria was the introduction of value added tax (VAT) in 1993.<\/p>\n This tax reform actually came into operation in January 1994 to replace the old sales tax which was narrow in scope in terms tax revenue from goods and services. In other words, VAT is a broader tax system structured to raise revenue for government (federal, state and local governments).<\/p>\n This is why Odusola (2006) stated that in Nigeria, the government fiscal power is divided into three tiered tax structure: federal, state and local governments, each with their different tax jurisdiction.<\/p>\n Nzotta (2007) also put forth a similar argument when he stated that taxes constitute the key sources of revenue to the federation account shared by the three tiers of government.<\/p>\n Azubike (2009) opined that a tax system such as VAT should be able to mobilize a nation\u2019s internal resource in order to create an environment conducive to promote economic growth. Many developing countries adopted the value added Tax system because of the perceived advantage inherent in the collection process.<\/p>\n Thus, in Sub-Sahara Africa and parts of West Africa such as Benin Republic, Cote d\u2019ivore, Guinea, Kenya, Madagascar, Mauritius, Niger Republic, Senegal and Togo VAT became a major contributor to total government Tax revenues (Ajakaiye, 2005).<\/p>\n In fact Schalizi and Squire (2008) found out from their studies that VAT accounted for about 30% of total revenue of Cote d\u2019ivore, Kenya and Senegal in 1982. Similarly, Tait (2009) also observed that in Latin America that VAT account for 12.35% and 19.71% of total revenue in Ecuador and Mexico respectively as at 1983.<\/p>\n The impressive performance of VAT in other countries as well as the intention of the Nigerian government to increase her non-oil revenue base principally accounted for the introduction of the VAT tax system<\/p>\n <\/span><\/a><\/p>\n First, note that we are one of the best and most reliable online platforms because we don\u2019t retain any of your personal information or data as regards making payments online.<\/span><\/p>\n Make a bank deposit or mobile transfer of \u20a62,000\u00a0<\/strong>only to the account given below;<\/span><\/p>\n Bank Name:<\/b>\u00a0UBA Account Number:<\/b>\u00a01022564031 Account Name:<\/b>\u00a0TMLT PRO SERVICES<\/span><\/p>\n After making the payment,\u00a0CLICK HERE\u00a0<\/strong><\/a>to send the following on WhatsApp;<\/span><\/p>\n or Call Us On\u00a0+2348082284439<\/b> 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.<\/span><\/p>\n 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. <\/span><\/p>\n Once your details have been received and your payment confirmed by us, you will receive the past question in your email or WhatsApp.<\/span><\/p>\n 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? <\/span><\/p>\n Let\u2019s hear from you! We recommend that our customers give feedback at the end of every transaction to enable us to serve better. <\/span>You can do this by clicking the review button on this page. <\/span><\/p>\n Where is the review button? >> Just scroll up to where you see reviews<\/em><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" If you are interested in getting this project material \u201c\u00a0The Contribution of Value Added Tax (Vat) to Economic Development of Nigeria 2007 \u2013 2017<\/strong>\u201d<\/strong><\/em>, click on the DOWNLOAD BUTTON<\/strong><\/a> to make payment and the file will be delivered to your email immediately after confirmation.<\/p>\n","protected":false},"featured_media":42949,"comment_status":"open","ping_status":"closed","template":"","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false},"product_cat":[29],"product_tag":[36,31],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/product\/6355"}],"collection":[{"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/product"}],"about":[{"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/types\/product"}],"replies":[{"embeddable":true,"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/comments?post=6355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/media\/42949"}],"wp:attachment":[{"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/media?parent=6355"}],"wp:term":[{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/product_cat?post=6355"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/product_tag?post=6355"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/pastexamquestions.com\/wp-json\/wp\/v2\/yst_prominent_words?post=6355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Abstract<\/strong><\/h3>\n
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