REFUND PROCEDURE FOR VALUE ADDED TAX IN NIGERIA: AN APPRAISAL

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dc.contributor.authorSa'adu, Hafsat Iyabo
dc.date.accessioned2023-05-05T15:53:42Z
dc.date.available2023-05-05T15:53:42Z
dc.date.issued2020
dc.description.abstractThis paper appraises Refund Procedure for Value Added Tax under the Nigerian Law. A significant characteristic of the Value Added Tax Act Cap VI Laws of the Federation of Nigeria (LFN) as modified by the Finance Act, 2019 is the right of the VATable person to demand for a VAT refund where the input tax genuinely exceeds the output tax for a transaction period. Refund is also available for VAT paid on zero rated goods and services. Section 23 of the Federal Inland Revenue Service (Establishment) Act (FIRSEA) 2007, vests Federal Inland Revenue Services (FIRS) with the power to make tax refund as well as place guidelines and requirements for refund procedure including VAT refund from time to time. In addition, pursuant to section 61 of het FIRSEA, FIRS issued information circular to notify stakeholders with the policy on the refund procedure. An appraisal of section 23 of the FIRSEA and the Refund Circular raised questions as the taxpayers is deprived of use of his property as guaranteed by section 43 of the Constitution of the Federal Republic of Nigeria (CFRN), 1999 as amended. The taxpayer is forced to wait till an undetermined future date for the refund or agree to the choice of setting off the refund due against future tax. This paper seeks to canvass for a specific legal framework for the tax system to recognize surplus payment as debt owed by the state.en_US
dc.identifier.citationVol 18en_US
dc.identifier.issn11182717
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/20.500.12484/9603
dc.language.isoenen_US
dc.publisherFACULTY OF LAW, UNIVERSITY OF MAIDUGURIen_US
dc.relation.ispartofseries;247-261
dc.subjectREFUND PROCEDURE, VALUE ADDED TAX, NIGERIA, APPRAISAL.en_US
dc.titleREFUND PROCEDURE FOR VALUE ADDED TAX IN NIGERIA: AN APPRAISALen_US
dc.title.alternativeMAIDUGURI LAW JOURNALen_US
dc.typeArticleen_US

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