IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 9 NO. 11 2023
DOI: https://doi.org/10.56201/jafm.v9.no11.2023.pg119.137

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Total Tax Revenue in Nigeria: The Contribution of Import and Non-Import Vat

Benson Emmanuel, PhD, Robert Baratuaipre Jacob, PhD

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Abstract

This work looked at the forms of VAT and how it impacted on total tax revenue in Nigeria. The work empirically analysed the effect on import and non import VAT on total tax revenue. Epos factor research design was adopted, also post estimation and estimation test was used to clean up the data used for this study. Vector Error Correction Model (VECM) through the use of E-views version 10.0 was used to test the hypotheses stated and the findings review that Import VAT has a positive and insignificant relationship with the total tax revenue in Nigeria, while NIMPVAT has a negative and insignificant relationship with total tax revenue in Nigeria. It was recommended among others that Import Value Added Tax (IMPVAT) and Non-Import VAT should be properly channeled to developmental project to benefit the citizens. Government should look into the funds generated from VAT and ensure that the revenue is not mismanaged.

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References:

Abiola, S. (2012). Current Law and Practice of Value Added Tax in Nigeria. British Journal of
Arts and Social Sciences.Vol.5 No.2. British Journal Publishing. Retrieved from
http://www.bjournal.co.uk/BJASS.aspx.

Adefila, J.J. (2008). Research Methodology in Behavioural Sciences. Kaduna: Apani Publications
Adegbie, F.F. & Fakile, A.S. (2011). Company Income Tax and Nigeria Economic Development.
European Journal of Social Sciences. 22 (2): 309-32

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