EVALUATION OF NIGERIA SYSTEM, EMPHASIS ON VALUE ADDED TAX – STUDY OF FEDERAL BOARD OF INLAND REVENUE (FBIR)

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Abstract

This study is carried out with the aim of evaluating Nigeria tax system with special emphasis on value added tax – study of Federal Board of Inland Revenue (FIBR).

It began with the history and development of Nigeria tax system right from its introduction between 1804 and 1810 and went through the fields of various tax It main purpose its to find out which tax system s good for Nigeria especially when compared to sales tax.

There is no gainsaying the fact that the study no problem. For instance the research discovered that (VAT) administration is solely the work of Federal Board of Inland Revenue.

The objective of research are various, amongst them: - to ensure that there is a minimal tax evasion and avoidance: that the replacement of sales tax with VAT is on the right direction and assess the revenue collectible from Vat.

In the light of the above some hypothesis were propounded and they are: who bears the incidence of tax, whether VAT reduces tax evasion and avoidance, whether it affects negatively the demand for products, and if VAT has justified its introduction. The result from the analysis reveals that VAT is a suitable tax system in Nigeria.

Consequent upon result from the study carried out, it is recommended that VAT should be allowed to stay, it is indeed a force to reckon with in Nigeria tax system.

TABLE OF CONTENT

Preface Page

Acknowledgements - - - - - - - i

Abstract - - - - - - - - - ii

List of table - - - - - - - - iii

CHAPTER ONE:

1.0 Overview of study

1.1 Introduction

1.2 Statement of problem

1.3 Objectives of the study

1.4 Hypotheses

1.5 Scope and limitation of the study

1.6 Significance of the study

1.7 Definition of terms

CHAPTER TWO:

2.0 Review of related literature

2.1 Objectives for the imposition of VAT

2.2 The origin and history of VAT

2.3 Administration of VAT in Nigeria

2.4 The basic structure of vat, administration

2.5 Methods of computing vat

2.6 Accounting of vat

2.7 Inspection of vat operations

2.8 Vat and sales tax compared

2.9 Economic stabilization of vat

CHAPTER THREE:

3.0 Research Design and methodology

3.1 Population

3.2 Sample selection

3.3 Description of instrument used in data collection ‘

3.4 Questionnaire distribution and collection

3.5 Other sources of data

3.6 Procedure of data analysis

CHAPTER FOUR:

4.0 Data presentation analysis and interpretation

4.1 Presentation and analysis of data

4.2 Testing of Hypothesis

CHAPTER FIVE:

5.0 Summary of finding, Conclusion and Recommendation

5.1 Summary of findings

5.2 Conclusion

5.3 Recommendations

Appendix

Questionnaire

Bibliography

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EVALUATION OF NIGERIA SYSTEM, EMPHASIS ON VALUE ADDED TAX – STUDY OF FEDERAL BOARD OF INLAND REVENUE (FBIR)

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