ProjectClue.com WhatsApp or Call Us

projectclue whatsapp icon07030248044

Project Topic:

THE IMPLICATION OF NIGERIA VALUE ADDED TAX (VAT) ON THE PAYERS. (A CASE STUDY OF ENUGU STATE)

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 49 ::   Attributes: Abstract, Table Of Content, Questionnaire, Data Analysis  ::   3,539 people found this useful

Project Department:

TAXATION UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

Project Body:

ABSTRACT

A  research  into the implications of Nigerian value Added Tax [VAT] on the payers [ a case study of Enugu State ] cannot be over –emphasized .

 In pursuance of this investigation , the research used both primary source  of data collection , like oral  interview as well as secondary sources such as textbooks , Journals ,Magazines and professional bodies . The data collection were then analysis using simple percentage , pie chart and the chi- square .

It will be noted that any VAT depends  on the value Added and there is no way VAT could  be attempted in isolation of this value Added. Since VAT also depends on income and profitability of individuals and companies, the quest for VAT should be planned and coordinated

Effect was made in this research work to investigate on the constraints encountered in the imposition of VAT and also in the recommendation were given the way of overcoming them .

 This study is obvious if we should realize that this work will enable us to know this contribution from VAT has helped in the Nigerian general economy so far and know if it worth it or not.The project is divided into five chapters in which the first chapter deals with the introductory part , statement of the problem, purpose of the study , significance of the study, research hypotheses , scope and limitations and definition of terms. Chapter tow deals with review of related literature as related to VAT  and as it affects the tax payers, definition of VAT. The evolution of Value Added Tax , why modified value added tax in Nigeria , sales tax and value added tax , value added tax in Nigeria and the implication of VAT don the tax payers .

Chapter three deals with  research design and methodology  used , primary , secondary, sources of data analysis , population and sampling procedures.

In chapter four was discussed , define presentation and analysis and testing of hypothesis

Chapter five finally deals with findings , conclusion and recommendation.

 

CHAPTER ONE

INTRODUCTION

 Taxes in modern economics are the most important source of government revenue. The are compulsory levies that are regularly imposed, and as a rule, not designated for a special purpose they are regarded as a contribution to the general revenue pool from which most government expenditure are financed.

   b     Taxation occupies a principal position in the Nigerian economy as in other countries. Value – Added –Tax was introduced in Nigeria currently to replace the old sales tax. The old sales tax, has been in operation under the federal government legislated decree No 7 of 1986, but it is operated on the basis of residence

   However , the newly introduced value added tax is operated under the federal government legislated decree No 102 of July 1993. VAT  is a form of indirect tax whose burden is shifted from the manufacturers through the distribution channels to the final consumer who then bears the final burden

    Value added tax came into effect on 1st January 1994 the tax is a tax on consumption. VAT is a multi stage tax which is impose on goods and services as they pass through the various stages in the business chain. From manufacturing, importation through wholesales to relating.  The payment is borne by the final consumer because it is included n the selling price ,it’s administration involves a credit mechanism system whereby a taxable person who is charged tax on the supplies to his entitled to set off that tax against the tax charged by him is supply to other persons , this making him only accountable for the excess of the tax on the supplies from him over the tax on the supplies to him.

       The tax paid or payable by a taxable person on the importation of a business carried on by him is known as his ‘input tax’ while the tax paid on the supplies made by him  is known as his ‘out put tax’. The VAT payable in essence is the output tax , less input tax.

       The tax on the supply of goods or services is chargeable only where:-

  • The supply is a taxable supply and
  • The goods and services are supplied by a taxable person in the course of a business carried on by him and is payable by the person supplying the goods and services .    

       VAT in Nigeria is computed at a flat rate of 5% of the price of the goods and services. This is affected on behalf of the government by business and organization that have registered for VAT purpose . VAT is operated by over ,sixty countries including some countries on the west of Africa .

   In Nigeria , two agencies of the muted nations organization the international monetary fund [IMP] and the world bank which are closely identified with the establishment and monitoring of the structural Adjustment programme [SAP] had since 1987 been advising that the Nigeria tax system need to be reformed so that the government  will be  less dependant on the petroleum revenue  generation .

   In an attempt  to effect this reformation of tax system , the federal government set up two tax study groups in 1991 . The federal ministry of finance and economies development set up one study group to study and make recommendation on the reforms needed in direct taxes in Nigeria . The federal ministry of budget and planning set up another study group which   is more relevant to our study on indirect taxes and inaugurated on 26th April in 1991 with the objectives of among other to :

-Shift  taxation towards consumption rather than saving .

  • Improve the administration of indirect taxes.
  • Provide incentives for export production.
  • Maintain a fairly ever tax incidence.
  • Reduce dependence on oil revenue.

        The general guideline for the establishment of value added tax in Nigeria was given by this committee . value Added tax was introduced into Nigeria economy tax  system in January 1st  , 1994 ,following the elegant provision of decree No .102 of July , 1993 but it has been in operation in other countries before it was  introduced in Nigeria .

     In the Nigeria context, it is a consumption tax of five percent [5%] imposed on every vat able goods and services of every stage of production

      The buyers of goods and services in the case of value Added tax are taxed and this is country to sales tax where the produces or sellers of goods and services pay the tax .

 

 

Get the complete project »


Instant Share On Social Media:


Can't find what you are looking for?
Call (+234) 07030248044.

OTHER SIMILAR TAXATION PROJECTS AND MATERIALS

A COMPARATIVE ANALYSIS OF TAX EFFECTIVENESS IN NIGERIA AND GHANA

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 70 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   3178 engagements

CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY From the days of Pharaohs in Egypt to modern day government, tax and taxation has always been part of society. There have being various reasons as t...Continue reading »

A STUDY OF TAX COLLECTION AND REVENUE MOBILIZATION A CASE STUDY OF ENUGU SOUTH LOCAL GOVERNMENT COUNCIL

 Format: M ::   Chapters: 1-5 ::   Pages: 36 ::   Attributes: Table Of Content, Questionnaire, Data Analysis  ::   5405 engagements

ABSTRACT Local government, being the third tier of government, has not performed maximally in the provision of infrastructural development.How can an innovation be introduced towards enhancing effecti...Continue reading »

ADMINISTRATION OF PERSONAL INCOME TAX IN ABIA STATE

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 72 ::   Attributes: Questionnaire, Data Analysis,Abstract

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Tax which is a major source of public revenue has been defined as compulsory levy imposed on individual and firms by the government. Payment of tax...Continue reading »

ADVANTAGE OF VALUE ADDED TAX IN TERMS OF REVENUE GENERATION

 Format: MS WORD ::   Chapters: 1 - 5  ::   Pages: 69 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   5959 engagements

ABSTRACT The study was focused on the importance of value added tax in terms of revenue generation. A core study of federal Inland Revenue service Enugu office. Data were collected from primary and se...Continue reading »

AN APPRAISAL OF PAY-AS YOU EARN SYSTEM OF TAXATION IN NIGERIA (A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 31 ::   Attributes: Questionnaire, Data Analysis  ::   5546 engagements

ABSTRACT The purpose of this research work is to describe the practical approach to an appraisal of pay-as-you-earn system of taxation with referee to Nssuka local government area. To guide this stud...Continue reading »

AN APPRAISAL OF TAX AMNESTY IN NIGERIA (A CASE STUDY OF FEDERAL INLAND REVENUE SERVICE (FIRS), ABUJA)

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 84 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   2498 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY Tax is one of revenue instrument in a country that exists since long time ago. In the bible, there are some stories that are related with tax. ...Continue reading »

What are looking for today?

WHAT OUR CUSTOMERS ARE SAYING:
  • 1. Abubakar Sani from Nigerian Investment Promotion Commission said "I had a wonderful experience using ProjectClue, they delivered not only on time, but the content had good quality. I recommend ProjectClue for any project research work.".
    Rating: Excellent
  • 2. Ogunniran Olawale from Ekiti state university said "Projectclue is really safe and reliable Quick access to project works Nice customer service Fast delivery of request Recommend this toy fellow students ".
    Rating: Excellent
  • 3. Fahat Nasir from isa kaita college of education dutsinma said "Fish farming a solution unemployment ".
    Rating: Very Good
  • 4. Ajimbi Oluwarotimi from Theology school osun said "Good ".
    Rating: Very Good
  • 5. Clement Abdullahi Ogiji from National Open University of Nigeria said "I am a living witness and have recommended project clue to a lot of students, so far none have been disappointed, very reliable and, trustworthy and dependable".
    Rating: Excellent
  • 6. Jhuee from Sultan national high school said "Good quality. I recommend project clue for any project research work.".
    Rating: Excellent