Effect of Value Added Tax on Total Tax Revenue in Nigeria (1994- 2024)
Abstract
This work investigated the effect of value added tax on total tax revenue in Nigeria. It covers the period of thirt two years (1994-2024). In other to achieve the main objective, Production VAT (PV), consumption VAT(CV) and income VAT (IV) were used as independent variables. Several literatures and theories were reviewed but the theory of Optimum Income Tax was adopted. The design used in this study is survey and causal research design. Secondary source of information was used for this study. Regression analysis was used to test the hypotheses stated earlier in the first chapter. Using standard error test the study review that all the independent variables (PV, CV, IV and WV) are all significant and positively related to the dependent variable total tax revenue at 5% significant level. The study, therefore, concludes that VAT have significant effect on TTR. It was recommended that, the federal government, state governments and local governments should urgently fully modernize and automate all its tax system, improve tax payer convenience in the assessment and payment process whilst at the same time entrenching effective and modern human resource management practices in the tax authorities.
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