Value Added Tax system as a r efer en ce point. The significance of this stud y i s that it will enable th e government officials, r esear cher s an d econ omic analysts to appr aise an y type of tax, with th e aid of the par ameters used in this stud y. The stud y used th e ability to gener ate revenue and the ability to in fluence th e consumption pattern s as th e measur ement par ameter s and found that VAT has been effective but not efficient. The study r ecommended (amon g other s) that tax auth orities sh ould be r ecord/pr oprietar y-con scious su ch th at the cost ( bud get) of the collection machinery and a tar get amount payable to the gover n ment should be cover ed by th e expected r evenu e to be gener ated.
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KEYWORDS: Appraisal of Nigeria’ s Tax System, Value Added Tax System
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INTRODUCTION
Tax is a compulsor y payment made on different basis an d r ates by citizens
(cor por ate bodies and individuals) to gover n ment, n on-n egoti ably but obligatorily.
This pa yment is not on th e basis of direct exch an ge for the payment for goods and services. It is n on -negotiable because none of th e citizens have any dir ect contribution to the composition of the basis and r ates of payment. Government only classifies the items on which the tax is to be paid, and the
References: Ebrill, K. M.; Bodin, J. & Summer s, V. (2001) Gbosi, A. N. (2002). Contemporar y Issues in Nigeria’ s Pu blic Finance an d Fiscal Policy, Kiyosaki, R. T. (1995). Rich Dad Poor Dad. New Yor k: Warn er Books Inc., pp Laily, M & van Zijl, T. (2003). Capital Gains Tax and Capital Asset Pricin g Model US Department of Tr easur y (2003). Eliminatin g th e Divid end Tax to Str en ghten