ABSTRACT: The topic value Added Tax, which was introduced in
the year 1993, is a tax on consumption born by the final consumer by paying
five percent (5%) on any valuable product whether local produced or imported.
The researcher data collection was on two bases, which include the primary, and
secondary. The primary data was the information got by the researcher when the
researcher conducted on oral interview with the officials of the federal in
land Revenue service, the Accountant General of Enugu state and some of his
office staff, and Enugu North Local Government Council staff who are basically
concerned with the collection and the disbursement of the money from value
Added Tax. The secondary data was got from the value Added Tax information
circular No 93/ 04 dated 20th August 1993 and 93/ 05 dated 5th Nov. 1993. Other
were value Added Tax Decree No. 102 of 1993 and principle and practice of
Management by Breech E.F.L of 1975.
= n =
( N (e)2
1+N
The data collected was presented and analyzed accordingly
and the following findings were made; that there were, “Registered person” at
the time of this project which in actual sense is a success; that the money
collected by the federal inland Revenue service officers the “Registered
persons” were promptly recorded and paid to the central Bank of Nigeria in on
the importance of value Added Tax offices has not been established in the local
Government use the money as it suits them; and that the payment of value Added
Tax rate through central Bank in each state to the central Bank in Abuja is a
delay tactics which hinders the sharing at the appropriate time.
Based on the above findings, the following recommendations
were made. That value Added Tax offices be established in all local government
area to effect prompt payment and curb the value Added Tax rate evaders. By its
establishment, it will become a household name in all the local government
areas, that a specific project be mapped out by the federal Government for the
utilization of the money realized from the Added Tax: that a specific account
be opened into which the money realized will be paid instead of through the
central Bank; and that a special Board be established for the sharing of the
money realized.
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1 Background of the
study
Statement of the problems
Purpose of the study
Research questions
Significance of the study
Scope and limitations
Definition of terms
CHAPTER TWO:
LITERATURE REVIEW
2.1 Definition of
value added tax (vat)
Contribution of vat
Offences and penalties
Method of collection and allocation
CHAPTER THREE:
RESEARCH DESIGN AND METHODOLOGY
Methods of research
Source of data secondary/primary
Population and sample size determination
Description of respondents
Treatment of data
CHAPTER FOUR:
DATA PRESENTATION AND ANALYSIS
Presentation, analysis of data
4.1 Summary of
results
CHAPTER FIVE:
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Findings
5.2 Conclusions
Recommendations
Appendices
Bibliography
References
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF
THE STUDY
Value Added Tax (VAT) is a system of tax recently introduced
in Nigeria, which is based on imposition, and charging 5 percent tax on certain
goods and services imported or produced locally in Nigeria. The idea of introducing Value Added Tax in
Nigeria came from the report of the study groups set up by the Federal
Government in 1991 to review the entire Tax System.