You have no items in your shopping cart.
ABSTRACT
The concept of Value Added Tax as a means of revenue to government is quite significant and needed to be examined critically to ascertain if the reform policy in itself has actually added value to the real gross domestic product of the nation. The main aim of the study is to evaluate the impact of Value added tax on Gross National Product and to know how it has contributed to overall growth and development of Nigeria economy. We developed the null Ho: and alternate Hi: hypotheses to evaluate questions they were set to address. The study employed descriptive statistics, correlation, and regression analysis. The study considered the impact of company income tax, petroleum profit tax, value added tax and custom and excise duties on economic growth. Our findings revealed that custom and excise duties do have a negative significant impact on economic growth in Nigeria in the long run. Petroleum profit tax was found to have a positive insignificant impact on real gross domestic product in the long run in Nigeria. Value added tax was found to have a positive significant impact on real gross domestic product in Nigeria on the long run. Consequently, it should be noted that tax can either have positive or negative significance to gross national product. The result that could be obtained will depend on policy implementation of the government. Government should ensure sustainable tax revenue mobilization policies in other to achieve the desired real gross domestic product.
