E-COMMERCE IN NIGERIA AND THE IMPACT OF ONLINE VALUE-ADDED TAX
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BACKGROUND OF THE STUDY
In many developing nations, such as Nigeria, the Value-Added Tax, sometimes known as VAT, has become an important source of revenue (Ijewere, 2022). In sub-Saharan Africa, for instance, value-added tax (VAT) has been implemented in the Republic of Benin, Côte d'Ivoire, Guinea, Kenya, Madagascar, Mauritius, the Republic of Niger, Senegal, and Togo. Other countries in the region include Togo and the Republic of Niger. According to the available evidence, value-added tax (VAT) has developed into a considerable contributor to the overall tax income of governments in these nations. According to Ajakaiye (2000), the Value Added Tax Decree was enacted in 1993 and made mandatory the following year. The Value-Added Tax, or VAT, is an ideal type of taxation in the Nigerian tax system. It has made a significant contribution, both to the economic process of resource mobilization and to the process of capital development. This has a favorable and large influence on the country of Nigeria's ability to generate revenue; he also has a positive association with the country's level of consumption (Isah, 2021).
A financial burden or other privilege imposed on a taxpayer (natural or legal person) by a state or the functional equivalent of a state, such that non-payment, fraud, or resistance to collection is punishable by: law A tax is a financial burden or other privilege imposed on a taxpayer (natural or legal person) by a state or the functional equivalent of a state. A large number of administrative units also levy their own taxes (Fregman, 2021). Taxes can be classified as either direct or indirect levies, and they can be settled either monetarily or in labor hours. The amount of money that is brought in by the tax authorities is directly proportional to how much that economy is taxed and how much the government spends on economic policy overall. The Nigerian federal treasury is legally obligated to levy taxes on people and legal persons operating in both the public and private sectors of the economy. This responsibility falls under the purview of Nigeria's taxation laws. Tax authorities now have complete independence to conduct tax evaluations, collections, and registrations. Because of the favorable climate that has developed as a result of Section 8 (q) of the FIRS Establishment Law 2007, the tax administration in the nation has been able to see significant improvements (Ijewere, 2022).
The term "e-commerce" refers to the process of buying, selling, and marketing products and services to consumers or end-users through the use of communication technologies, most notably the Internet. The Internet has caused a fundamental shift in national economies that were previously isolated from one another by a variety of factors, including barriers to cross-border trade and investment; physical distance; differences in time zones and languages; and national differences in governmental regulations, culture, and ethnic trade systems (Fregman, 2021). E-commerce creates a level playing field for large companies as well as small and medium-sized enterprises (SMEs) in the global marketplace. Additionally, e-commerce makes it possible for businesses and regional communities to participate in social, economic, and cultural networks without any problems despite the fact that they are located in different countries (Mary-Anne, 1998).
When major corporations transfer the money received from their consumers to the providers of the goods or services that were purchased, they incur administrative fees. Taxes are not different. The quantity of resources that may be used by the government is never equal to the amount of resources that are collected from the public in the form of taxes. The Nigerian National Tax Policy (NTP) lists the removal of bottlenecks and leaks in the Nigerian tax system as one of the primary goals that it seeks to accomplish. As a result, it is necessary for tax authorities at all levels in Nigeria (state, federal, and municipal) to locate all potential points of entry in the Nigerian tax system and to either reduce or eliminate the number of such leaks (Isah, 2021). It is common knowledge that income is lost at three different stages: the appraisal stage, the collecting stage, and the usage stage.
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