Changes in revenue from value added tax and other taxes on goods and services as a percentage of total tax revenue between 2007 and 2016

2018 ◽  
Keyword(s):  
Value Added ◽  
Tax Revenue ◽  
Value Added Tax ◽  
Goods And Services

scholarly journals Impact of Value Added Tax to Enugu’s Economy

2021 ◽  
Vol 8 (11) ◽  
pp. 278-287
Author(s):  
MARIA LUISA GONZALES ◽  
FRIDAY ODE
Keyword(s):  
Value Added ◽  
The Philippines ◽  
Tax Revenue ◽  
Business Organizations ◽  
Value Added Tax ◽  
Goods And Services ◽  
Descriptive Research ◽  
Significant Relationships ◽  
The Government ◽  
The Impact

ABSTRACT           Value-added tax is everywhere; it is in the most of goods and services we purchase. Take for instance; when we go to the salon to get our hair done, when we gas up our car, vat is also included in what we pay.  In the Philippines, the value-added tax is a form of sales tax. It is a tax on the consumption levied on the sale, barter exchange, or lease of goods, properties, and services in the Philippines, and on importation of goods into the country, it is an indirect tax that may be shifted or passed into the buyer transferring lease of goods, properties or services. While in Nigeria, VAT is a Federal Government Tax that is administered using the existing machinery of the Federal Inland Revenue Services (FIRS). This study assessed the impact of value-added tax on Enugu Nigeria’s Economy, specifically to Government, Business Organizations, and Consumers, the problems identified, significant relationships, and the solutions recommended. The findings revealed that VAT has a significant impact on business organizations and consumers but positively on the part of the government. Recommendation for the improvement is for the consumer with low average earnings should be exempted in paying the VAT provided however, criteria must be set to exempt them in VAT. Keyword: Social Sciences, Impact, Value added Tax, Revenue, descriptive research design, Philippines

scholarly journals Tax Revenue and Nigeria Economic Growth

2020 ◽  
Vol 3 (1) ◽  
pp. 30
Author(s):  
Emmanuel Onoja Eneche ◽  
Ibrahim Ademu Stephen
Keyword(s):  
Economic Growth ◽  
Tax Evasion ◽  
Significant Relationship ◽  
Income Tax ◽  
Computer Software ◽  
Value Added ◽  
Tax Revenue ◽  
Value Added Tax ◽  
Goods And Services ◽  
Short Run

This study examines the relationship between Tax Revenue and Nigeria Economic Growth. In order to achieve this objective, data was gathered through secondary means. Tax Revenue is proxy by Petroleum Profit Tax, Value Added Tax and Companies Income Tax, while Economic Growth is proxy by Gross Domestic Product. Data collected were analyzed with the aid of the Stata computer software. The study revealed that Petroleum Profit Tax (oil tax revenue) has a positive but no significant relationship with Nigeria Economic Growth, while Value Added Tax and Companies Income Tax (non-oil Tax Revenue) have significant relationship with Nigeria Economic Growth. The study recommends that government should minimize the wide spread corruption and leakages prevalent in tax administration in Nigeria, and transparently and judiciously account for tax revenue generated through the provision of more quality public goods and services, and need not to increase the rates of Value Added Tax and Companies Income Tax in the short run, but to closely monitor the operations of companies engaged in petroleum operations to minimize tax evasion, and as well as support the development of entrepreneurial activities in order to significantly increase Tax Revenue so as to sustain the significant relationship of VAT and CIT (non-oil tax) revenue with Nigeria Economic Growth.

scholarly journals Faktor-Faktor Untuk Meningkatkan Penerimaan Pajak Pertambahan Nilai Di Indonesia

2021 ◽  
Vol 13 (2) ◽  
pp. 130-145
Author(s):  
Setiadi Alim Lim
Keyword(s):  
Economic Crisis ◽  
Value Added ◽  
The Philippines ◽  
Tax Revenue ◽  
Value Added Tax ◽  
Economic Activities ◽  
Tax Rate ◽  
Goods And Services ◽  
Tax Revenues ◽  
The Government

In the current era of the economic crisis caused by the Covid-19 virus pandemic, the performance of tax revenues worldwide is declining. Indonesia's tax revenues in 2020 experienced a significant decline, including Value Added Tax receipts which decreased by 14.89% compared to 2019. This study shows that in the current situation there are factors that support and hinder the increase in Value Added Tax revenues. Factors that support the increase in Value Added Tax revenue include: an increase in the fiscal deficit, a decrease in imports, a longstanding Value Added Tax, and the efficiency of tax administration by the government. Meanwhile, the factors that hindered the increase in Value Added Tax revenue were: negative Gross Domestic Product growth, decreased service consumption, decreased C-Value Added Tax efficiency. To increase the value added tax revenue, it is better not to increase the Value Added Tax rate, because most countries in ASEAN use a tariff of 10% or less, except in the Philippines where the rate is 12%. If the rate of Value Added Tax is still increased, the maximum is not more than 12%, and it is temporary in nature for now and will be returned to the original rate or lower after the economic crisis era has passed. Expansion of the object of Value Added Tax can be done, among others, by reducing goods and services that are exempt from the imposition of Value Added Tax, which are facilities freed, are not collected, and are borne by the government. If there is an expansion of the object of the imposition of Value Added Tax, then it should be done very selectively and not to be counterproductive by still giving exceptions to basic necessities that are needed by the community and services that have social objectives or based on international rules are exempt from being imposed. It is also hoped that the reduction in the number of exempt goods and services will not interfere with the economic activities of the community, let alone cause unrest in the  community. 

scholarly journals Tax Revenue and Nigeria Economic Growth

2020 ◽  
Vol 3 (1) ◽  
pp. 30
Author(s):  
Emmanuel Onoja Eneche ◽  
Ibrahim Ademu Stephen
Keyword(s):  
Economic Growth ◽  
Tax Evasion ◽  
Significant Relationship ◽  
Income Tax ◽  
Computer Software ◽  
Value Added ◽  
Tax Revenue ◽  
Value Added Tax ◽  
Goods And Services ◽  
Short Run

This study examines the relationship between Tax Revenue and Nigeria Economic Growth. In order to achieve this objective, data was gathered through secondary means. Tax Revenue is proxy by Petroleum Profit Tax, Value Added Tax and Companies Income Tax, while Economic Growth is proxy by Gross Domestic Product. Data collected were analyzed with the aid of the Stata computer software. The study revealed that Petroleum Profit Tax (oil tax revenue) has a positive but no significant relationship with Nigeria Economic Growth, while Value Added Tax and Companies Income Tax (non-oil Tax Revenue) have significant relationship with Nigeria Economic Growth. The study recommends that government should minimize the wide spread corruption and leakages prevalent in tax administration in Nigeria, and transparently and judiciously account for tax revenue generated through the provision of more quality public goods and services, and need not to increase the rates of Value Added Tax and Companies Income Tax in the short run, but to closely monitor the operations of companies engaged in petroleum operations to minimize tax evasion, and as well as support the development of entrepreneurial activities in order to significantly increase Tax Revenue so as to sustain the significant relationship of VAT and CIT (non-oil tax) revenue with Nigeria Economic Growth.

scholarly journals An Insight Into the Value Added Tax System Detailing Its Origins, Impact, Provisions and Regulations With Reference to India

2004 ◽  
Vol 3 (1) ◽  
pp. 19-29
Author(s):  
Tomy Kallarackal
Keyword(s):  
European Economic Community ◽  
Value Added ◽  
Tax Credit ◽  
Value Added Tax ◽  
Excise Duty ◽  
Goods And Services ◽  
The World ◽  
The Difference ◽  
The Government ◽  
Insight Into

The Value Added Tax was first introduced in France in 1954. It was the resultant effort of France and members of the European Economic Community (E.E.C) during the 1950s aimed at the simplification of commodity taxes. Currently more than 130 nations in the world have adopted the VAT system. In the last decade alone over 50 nations have introduced VAT. This includes implementation in China and most recently the addition of Australia to the list of VAT nations. The world over, VAT is payable on both goods and services as they constitute a part of the national GDR Excise duty and sales taxes are merged into the singularity of VAT. No tax is levied on exports with full input tax credit made available. The scheme of taxation adopted by most nations is very simple. The seller of goods and the service provider charge tax on sales, avail input tax credit and pay the difference as VAT to the goVernment treasury. The compliance system in VAT nations is also very simple. There is very less interface between the tax collector and the tax payer. However there are provisions for heavy penalization of VAT defaulters. VAT is administered nationally and is also levied on imports.  

scholarly journals Tax Revenue, Tax Reform and Government Expenditure: The Case of Nigerian Economy (1994 – 2017)

2020 ◽  
pp. 1-12
Author(s):  
Chinedu Jonathan Ndubuisi ◽  
Onyekachi Louis Ezeokwelume ◽  
Ruth Onyinyechi Maduka
Keyword(s):  
Income Tax ◽  
Tax Reform ◽  
Government Expenditure ◽  
Value Added ◽  
Series Data ◽  
Tax Revenue ◽  
Value Added Tax ◽  
Tax Reforms ◽  
Level Of Significance ◽  
Excise Duties

The objective of this study is to empirically investigate the effect of tax revenue and years tax reforms on government expenditure in Nigerian. Tax revenue were explained using custom and excise duties, company income tax, value-added tax and tax reforms explained by the years in which reforms took place measured by dummy variables as proxies. In conducting this research, an annual time series data from central bank statistical bulletins and Federal Inland revenue Service of Nigeria spanning from 1994-2017 were employed. The data were tested for stationarity using the Augmented Dicker-Fuller Unit Root Test and found stationary at first difference. The Johansen co-integration test was also conducted and showed that the variables are co-integrated at the 5% level, which implied that there is a long-run relationship between the variables in the model. The presence of co-integration spurred the use of vector error correction model and VEC granger causality to determine the effects and decision for the study objective. Findings revealed that Customs and Excise Duties has positive (3.96) and significant (-8.38) impact on government expenditure at 5% level of significance (t=8.38>1.96), Company Income Tax has negative (-1.25) and significant (2.98) impact on government expenditure at 5% level of significance (t=2.98>1.96), Value added tax has positive (8.54) and significant (3.90) impact on government expenditure at 5% level of significance (t=3.90>1.96) and Tax reforms periods has negative(-3.52E+12) and significant (8.39) impact on government expenditure at 5% level of significance (t=8.39>1.96). The study thus concluded that tax revenue and tax reforms significantly affect the Nigerian economy with the direction of causation running from government revenue to government expenditure, supporting the revenue-spend or tax-spend hypothesis.  It was recommended while seeking to increase its revenue base via tax should also increase their expenditure profile to create a balance with the tax revenue and every other tax reform should be geared towards this balance.

Government is unlikely to overhaul Poland’s tax regime

2021 ◽  
Keyword(s):  
Value Added ◽  
Disposable Income ◽  
Policy Preference ◽  
Corporate Taxes ◽  
Value Added Tax ◽  
Alternative Source ◽  
Content Type ◽  
Goods And Services ◽  
Indirect Taxes ◽  
The Government

Significance This continues the policy preference -- out of line with Poland’s peers -- for indirect taxes on goods and services, including a relatively high value-added tax (VAT) rate. The government says the sugar tax aims to curb rising obesity, but critics suspect it is a new way of raising revenue. Impacts Corporate taxes could be raised as an alternative source of revenue. Left unaddressed, the regressive trend in taxes and rising inequality may create an opening for the leftist Spring and Together parties. If UK taxes rise post-pandemic, the relative fall in disposable income could encourage Polish immigrants to return to Poland.

9. Value added tax

2021 ◽  
pp. 138-146
Author(s):  
Clare Firth ◽  
Jennifer Seymour ◽  
Lucy Crompton ◽  
Helen Fox ◽  
Frances Seabridge ◽  
...  
Keyword(s):  
Value Added ◽  
P Value ◽  
Value Added Tax ◽  
Goods And Services

Value added tax (VAT) is a tax charged on supplies of goods and services made by businesses that have (or should have) registered for VAT. This chapter discusses the circumstances in which VAT is charged; the rates of VAT; when VAT can be reclaimed; accounting for VAT; and doing VAT calculations.

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