VALUE ADDED TAX: A TOOL FOR SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA
Abstract
ABSTRACT
This work is an appraisal of Value Added Tax as a tool for sustainable economic development
in Nigeria using Federal Inland Revenue Services, Ado-Ekiti Local Government Council at
Ekiti State as the case study. The major objective of this project is to evaluate if revenue
generated through Value Added Tax can be used as a tools for sustainable economic growth
and development. Primary data was adopted in gathering data.The major instrument used to
gather data from primary source is the questionnaire. From the population of 360, a sample
size of 189 respondents was selected using simple random technique. Findings revealed that
valued added tax has positive impact on the sustainable development and that problems
associating with valued added tax have negative impact on the economy. In view of the
findings, it was recommended that all vatable persons in the state have to be dully registered,
registration of all business centers will make the job easier for the VAT office. The officers of
Federal Inland Revenue Services of Ekiti State must go round the state to enforce the laws and
regulation guiding the payment of value added tax (VAT). Government at all levels, should use
the proceeds from VAT for infrastructural developments, this will further encourage people to
pay taxes without complaining.
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