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The Impact of Value Added Tax (vat) on Nigerian Economic Growth (1994 - 2012): an Investigation

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The Impact of Value Added Tax (vat) on Nigerian Economic Growth (1994 - 2012): an Investigation


This page presents an excerpt of the available research material, including the Preliminary Pages, Table of Contents, Abstract, Chapters One to Five, and References. It provides a comprehensive overview of the study, enhancing readability and accessibility for students, and researchers seeking complete material on “The Impact of Value Added Tax (vat) on Nigerian Economic Growth (1994 - 2012): an Investigation”.


ACKNOWLEDGEMENT


I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Computer Science Education for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on The Impact of Value Added Tax (vat) on Nigerian Economic Growth (1994 - 2012): an Investigation provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.




PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION


    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”



    ABSTRACT


    This study investigates the impact of VAT on the national revenue and economic growth of Nigeria. Problems associated with each sector of the economy in relation to VAT and their effects on economic growth were examined. Time series data used were obtained from Annual Reports and Accounts of the Central Bank of Nigeria (CBN) and Federal Inland Revenue Service (FIRS), CBN Statistical Bulletin and Collection Profile of the Federal Inland Revenue Service (FIRS). Augmented Dickey Fuller unit root test was employed to ensure the stationarity of the data, while Johansen Co-integration is used to estimate whether short-run or long-run equilibrium relationship exist among the variables.

    The causal relationship is tested using Granger Causality, Error Correction Model (ECM) is used to estimate the models and descriptive statistical method was adopted to trace its impact on economic growth. Sectoral contribution analysis of VAT revenue in the new millennium revealed that Government Sector had the highest overall contribution of 24.9%, followed by Oil and Minning Sector (the only leading productive sector with dramatical growth rate, portraying Nigeria as a mono-economy) with 24.7%, Service Sector (21.6%), Manufacturing Sector (with poor contribution of 16.7%), Financial Institution (5%), Commercial and Trading (3.5%), Building and Construction (3.2%) and Agric and Plantation with a ridiculous contribution of 0.1%. Also, findings reveal that VAT is the second highest significant source of federally collected revenue (FCR) out of the three important taxes in Nigeria.

    A positive and insignificant correlation exists between VAT Revenue and real GDP. The impact of VAT on economic growth of Nigeria is insignificant as there are some problems inhibiting its potency. This study recommends that all identified problems and administrative loopholes should be plugged for VAT Revenue to contribute more significantly to economic growth of the country. This should be done on the realization that any action taken on either VAT Revenue or the GDP will take four years to become effective




    1.1 Introduction

    … As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of technical terms.…


    CHAPTER TWO

    LITERATURE REVIEW


    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …


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