Effect of Value Added Tax, Customs and Excise Duties on Nigeria Economic Growth
Dr.Inyiama1, Oliver Ikechukwu1*, Ubesie1, Madubuko Cyril1
Citation : Dr.Inyiama,Oliver Ikechukwu,Ubesie,Madubuko Cyril, Effect of Value Added Tax, Customs and Excise Duties on Nigeria Economic Growth International Journal of Managerial Studies and Research 2016 , 4(10) : 53-62
The study examines the effect of Value Added Tax and Customs and Excise Duties on Nigeria Economic Growth. Secondary sources were explored in data gathering while simple regression technique was employed in data analysis for test of the study hypotheses. Furthermore, correlation analysis was applied in the assessment of the relationship between the non-oil revenue sources and Nigeria Gross Domestic Product. The outcome reveals that all the non-oil tax revenue affects Nigeria Gross Domestic Product. On the side of the relationship among the variables studied, the strength of their relationship is very high for all the variables. The researcher concludes that Value Added Tax and Customs and Excise Duties are some of the major contributors to Nigeria Gross Domestic Product. The revenue sources could be used to predict the value and status of the nations' Gross Domestic Product as indicated by the strength of the relationship between the variables. The federal, state and local authorities therefore could finance a reasonable proportion of their capital and recurrent budget through non-oil tax revenue.