Value Added Tax Remittance: Observations from Developing Country

Okoyeuzu Chinwe

Value Added Tax Remittance: Observations from Developing Country

Okoyeuzu Chinwe * §

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§ University of Nigeria,Nsukka

Value Added Tax Remittance: Observations from Developing Country

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Abstract

Taxation is one of the most important revenue generation in any given economy and as such should receive due attention. The need for taxation in an emerging economy cannot be over-emphasised. Taxation is one source of government revenue that could be reliable in terms of certainty .Government has the mandate to impose tax via its numerous regulations. Emerging economies are nations that have large territories and populations, and are saddled with the responsibility of developmental projects that call for new infrastructure, such as power-generating plants and telecommunications systems. Value Added Tax, usually abbreviated as VAT, could be a mega means of funding such projects. This research adopted. Survey research design because of its ability to view comprehensively and in detail the major question continuous decrease in revenue returns. The increasing revenue loss on VAT proceeds is mind bogging. Vat has a good chance of working in Nigeria if it receives the cooperation of tax collectors. We recommend that the Nigerian government should make adequate provision for retrieving the proceeds of VAT from companies and other agents of collection.

References

22 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Okoyeuzu Chinwe. 2013. "Value Added Tax Remittance: Observations from Developing Country". Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 13 (GJMBR Volume 13 Issue C9).

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

new infrastructure usually abbreviated as VAT Value added tax

Classification

GJMBR-C Classification JEL Code: H29

F24

Submission ReceivedDecember 15, 2012
Peer Review Double Blind
Handling Editor
Accepted December 31, 2012
Published January 15, 2013

Version of record

v1.2

Issue date

September 18, 2013

Language

English

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Total Score: 148

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Okoyeuzu Chinwe (PhD/Dr. count: 0)

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Publish Date: 2013 01, Tue

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