The Value Added Tax And Its Effect On The Economy (a Case Study Of Enugu State)

ABSTRACT Value added tax is a tax on consumed goods and services of individuals and corporate bodies made payable to the government. It serves as a source of income for satisfying collective wants and for regulating both economic and social policies and programmes. In the recent past, other forms of taxes were existent in Nigeria with the exception of VAT and they could not generate enough revenue for execution of government projects and programmes. In view of this, the value added tax was introduced in Nigeria with effect from January 1, 1994. The objectives of VAT, recently, were not fully …