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VAT and its Garment of Controversy (A)

In furtherance to our previous episode on the VAT series on the application of the interpretation principle Express Unis Est Exclusion Alterius, a postulation was arrived at as regards the lack of adequate authority by the National Assembly to impose and collect the Value Added Tax (VAT).
VAT is a consumption tax that has been embraced and adopted by many nations. Due to the fact that it is a consumption tax, it is difficult to evade and relatively easy to administer. From a buyer’s perspective, VAT is a form of consumption tax. From the perspective of the seller, it is a tax only on the value added to a product, material, or service while from an accounting point of view, by the stage of its manufacture or distribution. It is levied on the value-added that results from each exchange. It is also an indirect tax collected from someone other than the person who bears the cost of the tax or the tax burden.

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