Article Details : |
| | Article Name : | | Effect of Value Added Tax on the Nigerian
Economy | Author Name : | | ORAKA, AZUBIKE O.
OKEGBE, T. O.
EZEJIOFOR RAYMOND
| Publisher : | | Bridge Center | Article URL : | | | Abstract : | | The objective of this study is to determine the extent to which
value added tax has affected the Nigerian economy. Ex post facto
research design was adopted for this study. In measuring Nigerian
economy, Gross Domestic Product (GDP), Per Capital Income (PCI)
and Total Revenue (TR) were used in the study for the period 2003 to
2015. Secondary data method was adopted in obtaining data on value
added tax, gross domestic product, per capital income and total
revenue. These data were obtained from CBN statistical bulletin,
Federal Inland Revenue Services federal ministry of finance, and
journals. The data obtained were analyzed using Simple regression
analysis. Findings shows that value added tax has not significantly
affected Gross Domestic Product of Nigeria economy. It was also
discovered that VAT has a negative relationship with per capital
income. Finally, we found that VAT has a positive relationship with
total revenue generation of Federal government of Nigeria. The
implication of these findings is that Nigerian economy will experience
slow development in spite that VAT has a positive effect on revenue
generation. Based on these findings, the researcher recommends that
Nigerian government should put in place fiscal policies that will
enhance investment in agriculture, industries and technology which
will stimulate overall productivity growth. | Keywords : | | Value Added Tax, the Nigerian Economy |
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