VALUE ADDED TAX (VAT) AS A SOURCE OF REVENUE IN NIGERIA, CASE STUDY OF THE FEDERAL INLAND REVENUE SERVICE (FIRS
VALUE ADDED TAX (VAT) AS A SOURCE OF REVENUE IN NIGERIA, CASE STUDY OF THE FEDERAL INLAND REVENUE SERVICE (FIRS
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Date
2004-08
Authors
ILIYA, Isa Dibal
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Abstract
In partial fulfillment of the requirements for the award of Master of
Business Administration (MBA) I have been chosen this topic “VAT as a source
of Revenue n Nigeria” to examine how revenue is being generated with particular
reference to the Federal Inland Revenue Service.
The researcher has in the course of writing this project attempted to define
what revenue and VAT (Value Added Tax)
Revenue can be defined as money received as payments, income from all
sources, while “VAT is a tax on the supply of goods and services which is
eventually borne by the final consumer but collected at each stage of the
production and distribution chain”.
Revenue has two objectives, and these include raising fun to finance
government expenditures and the use of fiscal policy (taxation) to control
inflationary trends.
Taxation is used to achieve economic growth, equitable distribution of
wealth, encourage and protect industries within the economy and to ensure that the
balance of payment of the country is in a healthy position, fight depression,
allocate resources in a socially desirable manner, discourage consumption of
certain goods, for example, luxurious cars, and goods that are dangerous to health
e.g. cigarette control inflation and depression e.t.c.
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The Nigerian VAT carries a single rate of 5% on all VATable goods and
services and imports. Zero rate is assumed for export while they are goods and
services exempted from the tax.
The aims and objectives of this project, however, is to lay emphasis on the
revenue generated though VAT with a view to suggesting ways of improving and
consequently broadening collections.
Description
BEING RESEARCH PROJECT SUBMITTED TO THE
POSTGRADUATE SCHOOL, AHMADU BELLO UNIVERSITY,
ZARIA IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS
ADMINISTRATION (MBA)
DEPARTMENT OF BUSINESS ADMINISTRATION AHMADU
BELLO UNIVERSITY, ZARIA
AUGUST, 2004
Keywords
VALUE ADDED TAX (VAT),, SOURCE,, REVENUE,, NIGERIA, CASE STUDY,,, FEDERAL INLAND,, REVENUE SERVICE.