Purpose: The objective of this study was to investigate the impact of tax reforms on economic growth of Nigeria. Methodology: This study adopted time series strategy basically concerned with how to perform impact analysis on already existing data. Secondary data were used in this study. However, relevant data for the study were obtained from Central Bank of Nigeria (CBN) Statistical Bulletins, Federal Inland Revenue Services Bulletins, and the World Bank, using judgmental sampling technique, a sample of 21 years’ period from 2000 to 2021. Regression analysis technique was used to measure the effects of the predictor variables on the criterion variables. This study used estimated technique of both descriptive statistics and Ordinary least square (OLS) regression analysis method with the help of Statistical Package for Social Sciences (SPSS 25). Results: The researcher revealed that there is a positive significant impact of VAT, CIT, & PPT on RGDP in Nigeria among other things. Therefore, the researcher established that there is a significant positive impact of tax reforms on Nigeria’s economic growth. Contribution: The study's researcher suggested that policymakers should focus on boosting the productive capacity of the economy by reforming the tax code to prioritize economic growth and opportunity, government should expand the tax yield through improved tax administration system. This is because of the danger of over-reliance on crude oil export receipts to drive the economy among other things. Limitations: One of the limitations encountered in this study is that the chosen sample size was limited to one economy in Africa which is Nigeria. Keywords: 1. Tax Reforms 2. Economic Growth 3. Value Added Tax 4. Real Gross Domestic Product
The study investigated value added tax and Nigeria's economy growth. Exposfactor research design was employed in the investigation. The study used secondary data sources from the Nigerian Central Bank and the World Bank's twenty-one (21) years' annual financial reports, which covered the years, 2000-2020. Regression analysis was used for the analysis. With the use of SPSS version 25, this study employed estimated techniques for both descriptive statistics and the Ordinary Least Square (OLS) regression analysis method. The results demonstrated a statistically positive significant association between value added tax (VAT) and Nigeria's GDP as well as a statically positive insignificant relationship between VAT and Nigeria's GNP. Finally, the analysis found a significant correlation between Nigeria's economic growth and value added tax. To increase Nigeria's gross domestic product, the study suggested imposing VAT on the items and services used by both low- and high-income consumers. The government should implement disciplinary procedures to punish officials who engage in corrupt practices in collecting and remittance of revenues.
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