Impact Of Value Added Tax (Vat) On The Economic Development Of Nigeria
ABSTRACT
VAT is a consumption tax imposed at each stage of production
in a supply chain. It has been proven to be a good revenue source for
developing economies, as well as developed economies. The tax is ultimately
paid by the final consumer. The rest of the persons in the supply chain only
pass on the tax. It i; a form of in direct tax that is imposed on different
goods and services in the basis of value added amount in different stages of
production and distribution. It is also a form of tax issued by the government,
levied on the goods md services as they pass through the various chains in the
production and distribution process. VAT is also a means where by the
government generate revenue for the development of infrastructures in the
country. In terms of contributions to total federally collected revenue, VAT is
transpareilt and has minimum burden on consumers as it is collected in small
fragmnts at various stages of production and distribution process. It is viewed
as relatively manageable to administer and very difficult to evade.
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EZEDENDE, U (2021). Impact Of Value Added Tax (Vat) On The Economic Development Of Nigeria. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-value-added-tax-vat-on-the-economic-development-of-nigeria-7-2
UCHECHUKWU, EZEDENDE. "Impact Of Value Added Tax (Vat) On The Economic Development Of Nigeria" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 01 Dec. 2021, https://repository.mouau.edu.ng/work/view/impact-of-value-added-tax-vat-on-the-economic-development-of-nigeria-7-2. Accessed 24 Nov. 2024.
UCHECHUKWU, EZEDENDE. "Impact Of Value Added Tax (Vat) On The Economic Development Of Nigeria". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 01 Dec. 2021. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-value-added-tax-vat-on-the-economic-development-of-nigeria-7-2 >.
UCHECHUKWU, EZEDENDE. "Impact Of Value Added Tax (Vat) On The Economic Development Of Nigeria" Repository.mouau.edu.ng (2021). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-value-added-tax-vat-on-the-economic-development-of-nigeria-7-2