TAX REVENUE EFFECTS ON GOVERNMENT REVENUE GENERATION IN NIGERIA

Abstract

The study focussed on how Nigeria's value-added tax affected the country's ability to generate income spanning twenty years (1999-2019). The journal of the Chartered Institute of Taxation of Nigeria, Federal Inland Revenue Service Annual Reports, and the Central Bank of Nigeria Statistical Bulletin were sought out as secondary sources of data. A simple regression technique was used to accomplish the analysis. Results indicated that company income tax and Value Added Tax have a statistically significant impact on Nigeria's income generation. The report recommends the following actions: the government should make every effort to enhance the manner in which value-added tax is collected; all VAT agents should be committed and appear honest with regard to collection and payment Moreover, the country's tax base will grow as goods and services are taxed more which includes the activities of the informal sector.