VAT REFUND SYSTEM IN NIGERIA - A CRITIQUE
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The Chartered Institute of Taxation of Nigeria.
Claims for tax credits are an inherent part of VAT which is a tax on differences. Any attempt to curb input is therefore wrong in principle because it changes the way VAT operates from a tax on value added to a tax on gross sales price. In many developing countries, the refund is perceived as the major potential weakness of the VAT and the main avenue of evasion. therefore, the authorities are relunctant to be too prompt on refunds, preferring to have time to inspect, in detail, large refund claims. This is a prudent requirement in an VAT system.
VAT REFUND SYSTEM
Sanni, A.O (2004) " VAT REFUND SYSTEM IN NIGERIA - A CRITIQUE" (3), 1-23.The Chartered Institute of Taxation of Nigeria.