ABSTRACT
This research project was aimed at investigating the relationship between Value Added Tax and the performance of the manufacturring sector of the Nigeria economy. in order to achieve the objectives, one hypothesis was formulated and data collected from secondary. the data collected was tested using simple regression anlyses on SPSS Version 21. our findings showed that there is a positive andstatistically significant relationship between VAT and the performance of the manufacturing sector of the Nigeria economy. we therefore concluded that: Value Added Tax is a very important source of revenue generation for the federal government of Nigeria. We also concluded that Value Added Tax contributes significantly to the growth of the economy in general and the manufacturing subsector specifically. Finally, we conclude that the performance of the manufacturing sub-sector in the recent past can to large extent be attributed to Value Added Tax revenue generation. On the basis of our findings and conclusions above, we recommended that: the government should add more effort in coolecting Value Added Tax revenue. We also recommend that the government should provide public sensitization programs educating the populace on the need and importance of paying tax. Finally, it was also recommended that the federal government through FIRS provide adequate training for the tax collections staff of the service in order to improve on their performance in VAT collection and reduce to the barest minimum the incidences of default which is quite prevalent.
INTRODUCTION
............... The introduction of value added tax(VAT) in Nigeria came from the report of the study group set up by the federal government in 1991 to review the entire tax system in the set up to carry out feasibility studies on its possible implementation. In January 1993, the federal government agreed to introduce VAT by the middle of the year. But due to some logistic reasons for the relevant legislation to be made and proper ground work done.
It was shifted to January 1st 1994. VAT replaced the former existing sales tax carried out by the different state3 governments, the wages first implemented in 1986 and operated under the federal government legislated degree No.7, of 1986. VAT replaced the sales tax because of the following reasons. VAT is neutral in that a considerable part of the new tax is to be realized fr5om imported goods unlike the sales tax that targets only locally produced goods based on the general consumption behavior.
VAT is a consumption tax on all economic operation in the country including imports and has a zero rate for export. The federal Inland Revenue service (FIRS) is the main body charge with the administration of VAT in Nigeria custom service (NCS) for the collection of VAT on imports and the help of VAT on the locally produced goods and services. VAT has a single low rate of 5% with a zero rate for exports and is borne sole by the final consumers of VAT able goods and services like any other indirect tax, some essential goods and services are exempted from VAT that is they are not VAT able.
Value Added Tax is one of the major tools for sustainable development in Nigeria being a means of providing capital to the government in order to finance various development projects. VAT has improved the social and the macro-economic level of the economy. A look at the profile of various taxes administered and other means of earning revenue to the government (excluding revenue from petroleum) for the past seven years before the introduction of VAT, one can argue that VAT has contributed a greater percentage to the development of the country. ...............
FOR ACCESS TO THE FULL PROJECT WORK, USE THE ORDER NOW! BUTTON BELOW
TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.1 BACKGROUND OF THE STUDY 1.2 STATEMENT OF RESEARCH PROBLEM
1.3 PURPOSE OF THE STUDY
1.4 STATEMENT OF RESEARCH QUESTION
1.5 RESEARCH HYPOTHESES
1.6 SIGNIFICANCE OF THE STUDY
1.7 SCOPE AND LIMITATION OF STUDY
1.8 ORGANIZATION OF STUDY
1.9 DEFINITION OF TERMS
CHAPTER TWO: REVIEW OF RELEVANT LITERATURE
2.1 THEORETICAL FRAMEWORK
2.2 CONCEPTUAL FRAMEWORK
2.3 TAX ADMINISTRATION IN NIGERIA
2.4 VALUE ADDED TAX IMPLEMENTATION IN NIGERIA
2.4.1 Evaluation of VAT as a Source of Revenue
2.5 A REVIEW OF THE TAXATION SYSTEM IN NIGERIA HISTORICAL REVIEW
2.6 EMPIRICAL LITERATURE
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 INTRODUCTION
3.1 RESEARCH DESIGN
3.2 SAMPLE PROCEDURE & DATA COLLECTION METHOD
3.4 DATA ANALYSES TECHNIQUES
3.5 MODEL SPECIFICATION
CHAPTER FOUR: RESULTS AND DISCUSSION
4.0 INTRODUCTION
4.1 DATA PRESENTATION
4.2 DATA ANALYSIS
4.3 TEST OF HYPOTHESIS
CHAPTER FIVE: SUMMARY CONCLUSIONS AND RECOMMENDATIONS
5.2 SUMMARY DISCUSSION OF FINDINGS
5.2 CONCLUSIONS
5.3 RECOMMENDATIONS
BIBLIOGRAPHY
APPENDICES
Reference code: c040
Reference code: c040
___________________________________
___________________________________
Does the work meet your requirements?
SEE MORE PROJECT TOPICS
No comments:
Post a Comment