VAT REFUND SYSTEM IN NIGERIA - A CRITIQUE
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Date
2004
Authors
SANNI, A.O
Journal Title
Journal ISSN
Volume Title
Publisher
The Chartered Institute of Taxation of Nigeria.
Abstract
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.
Description
Keywords
VAT REFUND SYSTEM
Citation
Sanni, A.O (2004) " VAT REFUND SYSTEM IN NIGERIA - A CRITIQUE" (3), 1-23.The Chartered Institute of Taxation of Nigeria.