Implication of value added tax on the administrative and economic structure of Nigeria - case study of Federal Inland Revenue Service, Ilorin Department:Accountancy By: Eniolamoses Project ID: 8848 Rating: (5.0) votes: 1 Price:₦4000 Get the Complete MaterialAbstractThis study examines the implications of Value Added Tax (VAT) on the administrative and economic structure of Nigeria, using the Federal Inland Revenue Service (FIRS), Ilorin branch, as a case study. This study investigates how VAT contributes to revenue generation, affects the efficiency of public administration, and influences economic development. The research adopts a mixed-methods approach, utilizing both qualitative interviews and quantitative data from FIRS reports, national statistics, and scholarly sources. Findings from the study reveal that VAT significantly enhances government revenue, enabling the funding of critical infrastructure and public services. Administratively, the implementation of VAT has led to the restructuring of tax collection systems, increased digitalization of tax processes, and improved taxpayer compliance through targeted reforms by FIRS. However, challenges such as corruption, low public awareness, inadequate enforcement mechanisms, and a limited tax base continue to hinder the full realization of VAT's potential. Furthermore, the burden of VAT on small and medium-sized enterprises (SMEs) and consumers poses risks to consumption and industrial competitiveness if not properly managed through progressive tax policies and effective regulatory oversight. In conclusion, the study underscores the dual role of VAT as a fiscal instrument and a tool for administrative reform. While VAT has proven to be a reliable source of non-oil revenue, its effective implementation requires a transparent, inclusive, and well-coordinated tax administration. Policymakers must focus on strengthening institutional capacities, enhancing taxpayer education, and ensuring equitable tax burden distribution to optimize VAT's benefits. This study contributes to the growing body of knowledge on tax policy in Nigeria and offers practical recommendations for enhancing the efficiency and impact of VAT on Nigeria’s economic development trajectory. Keywords: Value Added Tax, Revenue, Administration, Economic Structure, Federal Inland Revenue Service, Nigeria, Industrialization, and GDP. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )