The Impact Of Value Added Tax On Revenue Generation In Nigeria

1.0INTRODUCTION  1.1BACKGROUND OF THE STUDY VAT as a system of revenue generation has been in existence in Nigeria since January 1st 1994. It has recorded remarkable increase in revenue generation for the nation and has been shown by numerous researches to be more effective than the sale tax in revenue generation. VAT, however, has not achieved all its objectives especially in the University of the Tax. While almost every one buys vatable goods, a lot of institutions, persons and vatable entities has not paid or remitted VAT to the appropriate authorities because they are not registered and th…