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LEGAL AND FISCAL IMPLICATIONS OF RECENT PRONOUNCEMENT ON VAT ADMINISTRATION IN NIGERIA
Abstract
This paper reviews the legal and fiscal implications of the recent pronouncements on Value Added Tax (VAT) concerning the administration of the same in Nigeria. There exist mixed responses to the questions as to who is legally responsible for the collection of VAT in Nigeria. Various judgments on VAT are reviewed while suggestion was made to scholars and practitioners in the field of taxation and Law. It was concluded that this is an issue of utmost national importance and should be accorded the urgency that it deserves by the judiciary and all key stakeholders. Policy-makers, legislators, and judiciary would find this paper apt in the ordinary course of their functions. This paper, therefore, recommends that taxpayers and tax advisers alike should maintain compliance pending the final determination of the matter by the courts, to avoid incurring unnecessary tax liabilities in the event of a high tax burden in the future.
Keywords: Tax administration, Nigerian constitution, Tax revenue, Value Added Tax, VAT administration