EFFECT OF INDIRECT TAXATION ON CONSUMPTION IN NIGERIA aka

Department → Accountancy

Amount → ₦10,000.00

ABSTRACT Tax has been one of the major revenue sources in Nigeria. The taxes paid come back to the taxpayers in the form of social amenities. However experience has shown that most Nigerians (both individual and corporate citizens) avoid or evade tax obligation for reason that it negatively affects their consumption. The study was carried out to critically assess the effect of indirect tax on consumption of goods and services in Nigeria. Sample survey design was adopted and instrument used for data collection was structured questionnaire. The population of the study consists of 60 residents in Enugu North Local Government Area. Taro Yamane (1964) formula was used to determine the sample size of 52. Data was presented using frequency and simple percentage analysis. The hypotheses were tested using Chi-square(X2) statistical model. The result emanating from this study revealed that Sales tax, VAT and Per Unit tax negatively affect consumption in Nigeria. The study thus concludes that while government pursues higher revenue generation through taxation, cost-benefit analysis should be done to avoid killing businesses at the altar of growing wealth of the nation especially in this recession era. It is therefore recommended among others that government should increase tax education, double taxation should be discouraged, government should embark on people-oriented projects, endemic corruption and leakages in tax administration should be permanently eliminated.       Get the Complete Project Material Now!!!

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