ABSTRACT
Value added tax is a tax on consumed goods and services of individuals and corporate bodies made payable to the government. It serves as a source of income for satisfying collective wants and for regulating both economic and social policies and programmes.
In the recent past, other forms of taxes were existent in Nigeria with the exception of VAT and they could not generate enough revenue for execution of government projects and programmes.
In view of this, the value added tax was introduced in Nigeria with effect from January 1, 1994. The objectives of VAT, recently, were not fully realized and this brought about problems today under this study.
The topic “value added tax and its effect on the economy†a case study of Enugu state x-rays the problematic areas in the topic under study.
In order to succeed in the study, hypothesis were formulated and questionnaires were constructed and chi-square were used to test the hypothesis.
It was observed that vat in Enugu state is asset in controlling inflation on the economy and vat decreases the demand for consumer items in Enugu state.
Having examined the above topic and identified the problems, recommendations were made on how this will be improved to ensure proper utilization of vat fund and increased vat revenue.
PREFACE
In this research work, I have made attempts to explain my views and findings on the value added tax and its effect on the economy with particular reference to Enugu state.
The value added tax which was introduced in Nigeria by the 1994 budget broadcast of late Sani Abacha made a landmark in Nigeria’s public policy regulation, value added tax is bound to afect the economy in one way or the other.
This work had been slit into five chapters.
Chapter one which is the introduction further divided into five parts. In this chapter, I tried to identify the problem of the study, rationale of the study, significance of the study, background of the study and definition of terms.
Chapter two which is the literature review tries to incorporate the views of other experts into the study thereby exposing the theoretical review and the empirical review.
Chapter three of the study is the hypothesis, research methodology, sources of data and limitations of the study.
The fourth chapter treated data presentation and analysis and discussion of the result.
Chapter five revealed the summary of the study, conclusion, recommendation and suggestion for further research. The study will prove useful to graduates professions/ students and for various professionals in involved in taxation and tax matters.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgements
Abstract
Preface
Table of contents
Chapter one
Introduction
1.1 Statement of problem
1.2 Rationale of study
1.3 Significance of study
1.4 Background of the study
1.5 Definition of terms
Chapter two
Literature review
2.1 Theoretical review
2.2 Empirical review
Chapter three
Hypothesis, methodology of the study, sources of data and limitations of the study
3.1 Hypothesis
3.2 Methodology of the study
3.3 Sources of data
3.4 Limitations of the study
Chapter four
Data presentation, analysis and discussion of the result
4.1 Data presentation
4.2 Analysis
4.3 Discussion of the result
Chapter five
Summary, conclusion and recommendation
5.1 Summary
5.2 Conclusion
5.3 Recommendation
5.4 Suggestion for further research/studies
Bibliography
Appendix
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