VALUE ADDEED TAX AND ECONOMIC GROWTH IN NIGERIA

VALUE ADDEED TAX AND ECONOMIC GROWTH IN NIGERIA

Author by Dr. James .a Oguntodu

Journal/Publisher: Babcock Journal Of Management And Social Sciences.

Volume/Edition: 2

Language: English

Pages: 25 - 39

Abstract

Abstract

 

The contribution of taxes to the growth of the nations’ economy cannot be overemphasized. So, also is the Value Added Tax which is the consumable tax payment for essential goods and services based on the consumption pattern of the citizens. It is an essential tax income that could boost tax revenue collection for the nation. This study was carried out to determine the effect of (VAT) on the Growth of Nigerian economy. The study was empirically carried out by extracting related data from CBN statistical bulletin of 2015 on which regression analysis was used. The result revealed that there is significant relationship between value added tax and economic growth as it reflects in the adjusted R2 of 0.968057 (96.81%). The study concluded and recommends for the creation awareness through the publication in their advert brochure with the view to maximize more revenue at little or no cost.


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