International Journal of Development and Economic Sustainability (IJDES)

EA Journals

Value Added Tax

An Assessment of the Casual Relationship between Economic Growth and Indirect Taxes in Nigeria (Published)

The study examines the causal relationship between economic growth and indirect taxes in Nigeria. Ex-post facto research design was employed and time series data were sourced from Central Bank Nigeria (CBN) statistical bulletin of various years 1994-2014. Multiple regression inferential statistics was used for data analysis. The result reveals that VAT has a positive significance effect on GDP. This is because the computed t-statistic of 3.142 is greater than the critical value table value of 2.120. The result of the second hypothesis also showed that the computed t- statistic of 4.557 is greater than the critical table value of 2.120 thus, proving that CED actually has a positive significance effect on GDP. The study conclude and that VAT and CED as indirect taxes contributes to economic growth in Nigeria, hence government should intensify effort to ensure immediate response of payment by the general public as flow of fund will encourage faster economic growth.

Keywords: Custom and Excise duties, Gross Domestic Product, Value Added Tax, economic growth

Value Added Tax and Economic Development in Nigeria (Published)

This paper attempts to examine the relationship between Value added tax and Economic development: in Nigeria. It is expected that this study will be of immense use to both the Government and general public. The study covered 18years period between 1994 and 2012. Multiple regression was used to analyse the data gotten from Central Bank of Nigeria (CBN) Statistical Bulletin of various years. The result of the multiple regression showed a negative significant relationship between value added tax revenue and Gross domestic product. Also, the result showed a positive significant relationship between Gross domestic product and Total consolidated revenue. We recommend that federal government should educate the general public more on the essential of VAT payments and also that machineries should be put in place to ensure that VAT revenue does reduce as this will help foster economic development. Also, VAT rate should be increased as it will account for more revenue to the government.

Keywords: Gross Domestic Product, Total Consolidated Revenue, Value Added Tax

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