Forestalling Value Added Tax and Personal Income Tax on Economic Growth in Nigeria

Abdulsalam Nasiru, Kaoje(Ph.D), Abubakar Sabo, Yabo (Ph.D) and Musbahu Bunza Ahmad
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Abdulsalam Nasiru, Kaoje(Ph.D): Department of Accounting, Usmanu Danfodiyo University, Sokoto, Nigeria
Abubakar Sabo, Yabo (Ph.D): Department of Business Administration, Usmanu Danfodiyo University, Sokoto, Nigeria
Musbahu Bunza Ahmad: Department of Accounting, Usmanu Danfodiyo University, Sokoto, Nigeria

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 1, 21-29

Abstract: This paper examined the impact of tax revenue on aggregate and disaggregate on economic growth in Nigeria covering a period of forty years (1979-2018). A purposive sampling technique was also used, adopting aARDL model. The result showed that Value Added Tax (VAT) has significance effect on gross domestic product with coefficient 0.4675 at 5% level of significance. Personal Income Tax (PIT) also has a positive significant effect on economic growth with coefficient 0.1975 with p-value of 5% level of significant. The overall result showed significant effect of tax revenue on aggregate on economic growth. The study then concluded that there is urgent need for government to prioritize her needs as petroleum revenue continues to decrease. Therefore the study recommends that government should try to diversify the economy as revenue generated from petroleum should be used to develop other sectors of income generation.

Date: 2020
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