26. IMPACT OF VALUE ADDED TAX ON HOUSEHOLDS CONSUMPTION EXPENDITURE IN NIGERIA (1994 - 2016)
ABSTRACT
The main objective for the abolition of sales tax and subsequent introduction of Value Added Tax (VAT) is that the base of sales tax is too narrow. Also, the preference for VAT to income tax is essentially because income tax reduces incentive to work and reduces consumption. An attempt by the Federal Government of Nigeria to raise VAT rate from 5% to 10% in 2012 was counteracted by widespread condemnation and protest by both the members of the public and the Nigeria Labour...