PROBLEMS AND PROSPECTS OF ADMINISTRATION OF VALUE ADDED TAX IN NIGERIA
CHAPTER ONE
1.0 Introduction
1.1 Background Of The Study
Tax plays important role in the growth of infant industries and economic development in general. In the low-income countries, the role of infant industries is critical in pushing the socio-economic development agenda of the country further. Therefore, alignment of the tax system to the environment specific industrial growth needs can be considered an important agenda for policy makers. Keeping this issue at focus, Micro- and small enterprises are an important force for economic development and industrialization in poor countries. It is increasingly recognized that developing enterprises contribute substantially to job creation, economic growth and poverty alleviation. The 2005 World Development Report suggests that creating “sustainable jobs and opportunities for micro entrepreneurs are the key pathways out of poverty for poor people” (World Bank, 2004 p19). High tax rates and tax complicity discourage the growth of infant industries and discourages private sector investment (Oludele and Emilie, 2012 p14). Thus, tax has an economical impact on the growth of the economy of a given country.
From economic point of view, taxes increase production cost of goods and services which would eventually leads to higher price of goods/services to the final consumers. On the other hand, the revenue collected from taxes represents the major funding source for governmental expenditures (Toder, E and Rosenberg, J. 2010 p8). If the tax structure is not adequately designed to the specific environmental conditions, it may create a greater burden to the tax-paying organizations and eventually affecting the final consumer due to the shifter ability of tax.
Assessing the impact of tax systems on small and medium enterprises and other infant industries is not simply a matter of looking at tax rates. Tax systems play an important role in encouraging growth, investment and innovation and facilitating international trade and mobility. For the enterprises, key considerations are to minimize administrative burden while ensuring compliance, including considering the drivers and impacts of operating in the informal economy
1.2 Statement of Problem
Despite the enormous revenue that flows into the government’s treasury, there are critics who argue that the incidence of VAT like any other indirect taxes is regressive. The reason is that poor people spend a large portion of their income on purchases some which carry VAT. Also, the attitude of Nigerians towards taxation is worrisome as many prefer not to pay tax if given the opportunity. The economy continues to lose hung amount of revenue through the unwholesome practice to tax avoidance and tax evasion this loss of revenue can change the fortune of many economies. Particularly, developing countries like Nigeria. This problem has been lingering for so long which urgent attention and solution is over due to the cost of collecting tax in Nigeria (both social and economic cost) is too high to the extent that if left unchecked the cost may soon outweigh the benefit or value derived from such operation and that will not the appropriate for the system. In Nigeria, VAT is one of the instruments the federal government introduced to generate additional revenue. Yet, most prominent Nigerians and interest groups had spoken against its introduction. It would appear that VAT is froth with some problems. It is in view of these problems that this study is set to examine the problems and prospects of the administration of VAT in Nigeria.
1.3 Objectives of the study
The following are the objectives of the study;
- To find out the impact of VAT on economic growth and development?
- To reveal the problems of efficient administration of VAT in Nigeria?
- To reveal the prospects of the administration of VAT in Nigeria?
- Does reduction of VAT rate stimulate private investment?
- How does VAT influence economic growth stability?
1.4 Research Questions
The following research questions were formulated to achieve the objectives of the study;
- What is the impact of VAT on economic growth and development?
- What are the prospects of the administration of VAT in Nigeria?
- Does reduction of VAT stimulate private investment?
- How do VAT influence economic growth and stability?
1.5 Significance of the study
The following are the significance of the study;
- It will make known the effect of VAT on economic stability, growth and development
- It will help in determining if reduction of VAT stimulate private investment.
- It will also bring to light the problems and prospects of value added tax administration in Nigeria.
- Finally, the study will serve as a useful reference material for other researchers seeking for information on the subject.
1.6 Scope and limitations of the study
This study is limited to the problems and prospects of administration of value added tax in Nigeria, using Federal Inland Revenue Service as a case study.
1.7 Definition of Terms
Value added tax:
This is a tax on the value of goods and services consumed in the home market. It is therefore referred to as a tax on spending.
Tax:
Is a compulsory levy imposed directly or indirectly by the government of the state against the income of individual, partnership or corporate organization for the purpose of providing social amenities for the people’s good.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
Problems and Prospects of Administration of Value Added Tax in Nigeria can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.0 Introduction
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Problems and Prospects of Administration of Value Added Tax in Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.0 Introduction
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Problems and Prospects of Administration of Value Added Tax in Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “Oil Multinational Corporations in Nigeria and Environmental Degradations” be used as a guide for Political Science Project?
Yes it can be used — This research work titled “Oil Multinational Corporations in Nigeria and Environmental Degradation : A Case Study of the Niger Delta Areas aims at exploring the activities of the Oil Multinationals in respect to oil explorations,exploitations and their attendant relationship with the environment, particularly in their operational areas. The work further explores the effect of governments’ instruments of law and their influence on Oil Multinationals operating in Niger Delta Area of Nigeria. The project avail itself of the use of secondary sources like dictionaries, encyclopedias, research reports published in journals, newspapers, Magazines, textbooks and some related research reviews. …
Can the material for “Factors Associated with Mass Failure of Students in Biology in Senior Secondary Schools” be used as a guide for Education Project?
Yes it can be used — The non-proficiency of Nigerian students in Biology has been a major concern of the research. Therefore, the researcher problem into the causes of mass failure in Biology in senior secondary schools in Logo Local Government Area of Benue State. The research was carried out in five secondary schools in Logo Local Government Area. Questionnaire was designed for the purpose of data collection from a hundred students chosen at random with twenty students from each school. The simple percentage and frequency distribution tables were used to analyse the data. The study revealed that the students believed that Biology is an interesting subject to study, but that lack of qualified teachers, inadequate teaching materials, bad reading culture, parents’ illiteracy, bad attitude of students to …
Is the topic “A Linguistics Analysis of Television Talk Show” recommended for English Language Project?
Yes it is highly recommended — This study seeks to make a linguistic analysis of television talk show, a case study of NTA Kaduna with the aim of describing the nature of its dialogue, providing an assessment of it, and exposing the peculiarities therein. It brings to the fore features that have otherwise not been observed in talk show. The usual assumption by discourse analysts is that language used in institutionalized or formal settings is structured and follow the tenets of discourse analysis. As a result, there is a disparity in language use in spontaneous and institutionalized settings. Chapter one focuses on the background to the study. It also presents a brief insight into the case study. It also examines the research problem, aim, scope and …
Can the material for “The Consequences of Computer Application on Profit Making in Nigeria Banks” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — The study was carried out to find the efficiency of banking activities with the application of computer. Attention was directed on the relationship between the contributions of computer application towards banking activities in the economy. The scope of the work was not all the wide, but the study was able to come up with face that banking sector, improves tremendously with the computer. It is of great importance of both the ministers and the researcher since it helps to find whether the economy that is the banking sector can go for with the help of computer likewise, it helped to broaden the mind of the researcher on the problem that computer specialist in banks can face in the course of their …
Can the material for “Morality and Reason in Thomas Aquinas Philosophy; A Critical Analysis” be used as a guide for Philosophy Project?
Yes it can be used — I intended to expose the indepth meaning of reason and morality. Using man as the major point on this discussion, due to the higher rational faculty he possess over other creature. We shall also answer the question as: has reason any influence or part to play in morality? Or put simply, is reason necessarily required for man to be moral? If yes, should reason be the sole factor for morality? But if no, what then? This work is going to be base mostly on reason and morality in Thomas Aquinas’ philosophy. To unfold this, this work will be based on four chapter work. We are going to see how morality should be guided by reason. In Chapter one thought of the introductory and …
Is the topic “The Problem of Retirement in Civil Service” recommended for Public Administration (PA) Project?
Yes it is highly recommended — This is a study on problems of retirement in the Enugu state civil service: a case study of Enugu state universal basic education board. This study is an attempt to help the enugu state civil service retiring employees to prepare for life after retirement. The work intends to help the retiring employees to set their priorities right and to easily define their lives after retirement. In order to avoid the high degree of penury some retirees live in after several years of service. This study really exposes the importance of retirement guidance and counselling, various issues a retiring employee must address while he/she is still in active service, what the employers should do in order to help the prospective retirees …
Can the material for “Adult Benign Prostatic Hyperplasia (BPH) Related Biochemical Changes in Clinic-Going Older Men” be used as a guide for Linguistics and Communication Project?
Yes it can be used — This study was aimed at investigating biochemical changes associated with benign prostatic hyperplasia in ageing men attending clinic at the university of Nigeria Teaching Hospital, Ituku-Ozalla, Enugu State, Nigeria. The assessment included 50 men with BPH attending clinic in addition to 50 healthy men (control). All samples were divided into 5 groups and with varying age ranges (Group 1: Normal control, Group 2: BPH patients ≤ 60 years, on treatment, Group 3: BPH patients ≤ 60 years, not on treatment, Group 4: BPH patients ≥ 60 years, taking treatment, Group 5: BPH patients ≥ 60 years, not on treatment).PSA levels of BPH positive subjects under treatment increased significantly (p < 0.05) compared with the control. There was a significantly (p < …
Can the material for “The Effects of Mass Media on Family Planning” be used as a guide for Mass Communication (MC) Project?
Yes it can be used — This project is a survey on the effect of mass media on family planning, as it concerns its adoption by the families in Owerri, Imo State. The importance of family planning in national development cannot be over stressed as many developing nations around the world have been able to link directly with their planning in all phases of development. In the sense that population growth must be taken into account for economic, educational, agricultural development of a nation, the survey method was used for collecting through the questionnaire distribution to married couple in Onicha Mbaise. Simple random system was employed in selection of 150 families 15 from each of the 10 villages, UMUHU, UMUELAGWA, UMUEKWE UMUEVU, UMUAGHARA, OMUKWU, EZIAMA, UMUOMA, UBONUKAM, …
Can the material for “Problems and Prospects of Married Female Office Managers in Business Organization” be used as a guide for Office Technology and Management (OTM) Project?
Yes it can be used — This study focuses on the problems and prospects of married female office managers in business organizations. The population consisted of thirty (30) office managers in various selected organization. In these organizations 30 respondent were used for analysis. The questionnaire was the instant used for data collection. A mean distribution table was used to analyze the data collected. The data collected should that married female office managers faced the problem of combining official duties with domestic responsibilities and the problem of sexual harassment by their bosses, amongst others. In the cause of the above findings recommended were made based on the research findings which revolved around creating a cordial working relationship between the office managers and his/her boss, colleagues and subordinates. …
Is the topic “A Computer Based Data System for Mortgage Financing” recommended for Computer Science (CS) Project?
Yes it is highly recommended — This project is aimed at designing and implementing a computer based information system for mortgage financing for Harvard trust Finance Enugu. Specifically the study covered the activities of mortgage institution in mobilizing savings and giving the larger part of it to customers who wish to own thee own houses of Harvard Trust Finance Enugu. In a bid to successfully carry out the study, the researcher studied the existing system with a view to finding out its shortcomings. This attempt enabled the researcher to design and implement a computer based information system that mortgage financing that would, if well implemented help to highly up light the mortgage operation of the Harvard Trust Finance Enugu. …