For correspondence:-
Received: March 5, 2020 Accepted: March 31, 2020 Published: March 31, 2020
Citation: Value Added Tax and Economic Development in Nigeria. Account Tax Rev 2005; 4(1):148-157 doi:
© 2005 The authors.
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Abstract
The study examines the impact of Value Added Tax on economic development in Nigeria for the period 1994 to 2018. The study employed a longitudinal research design. The data used in the study were generated from the office of the Federal Inland Revenue Service, and United Nation Data bank and the data generated were analysed using the Auto-Regressive Distribution (ARDL) regression estimation technique. The result from the finding unveils that VAT has a positive and significant impact on economic development in Nigeria. The study recommended that Government should ensure that the revenue that is generated from VAT is expended on projects that will impact on the citizens of the country and Regularly tax audit should be carried out on registered VAT collectors to ensure that the tax collected is remitted to the appropriate authority.
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