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Research Article Open Access

Assessing the ‘Value’ in Value Added Tax: Evidence from Nigerian Economy


Value Added Tax (VAT) in Nigeria is a consumption tax that was established by the Value Added Tax Act of 1993. It is a Federal Tax which is managed by the Federal Inland Revenue Service (FIRS) of Nigeria. The essence of this paper is to re-evaluate the effectiveness and efficiency of the administration of VAT in Nigeria, as well as to appraise the benefits inherent in the adoption of VAT with respect to its impact on Nigerian economic growth within the period 1994-2014. To effectuate the objectives of the study, relevant secondary data were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin, Federal Inland Revenue Service (FIRS), and other relevant government agencies. The empirical analysis was based on multiple regression technique. Economic growth was proxy by Gross Domestic Product and the result shows that there is no significant relationship between Value Added Tax and Economic growth, there is a significant relationship between values added tax and the total revenue generated in Nigeria and that VAT administration in Nigeria is effective and not efficient. We recommended inter alia that the government should increase VAT rate for luxury goods such as tobacco, by so doing VAT will be made progressive with greater impact on the rich than the poor. More so the bracket of goods and services on which VAT is charged should be expanded, thus leading to an increase in VAT revenue.

Adeyemo Kingsley A, Fakile Samuel Adeniran, Obigbemi Imoleayo, Ben-Caleb Egbide

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