Nigerian Value Added Tax System and the Concept of Basic Food

20 Pages Posted: 17 Feb 2017

See all articles by Prof. Godwin Emmanuel Oyedokun

Prof. Godwin Emmanuel Oyedokun

Lead City University Ibadan Nigeria ; OGE Professional Services Ltd; Nasarawa State University, Keffi

Date Written: March 19, 2016


The most difficult thing to understand may be income tax, this paper explores the concept of value added tax (VAT) with respect to the most controversial treatment of basic food items. This paper does not pretend to cover everything about VAT, but some specifics that addresses the imperatives which are; Nigerian Value Added Tax system and its position on basic food items, constitution and taxing powers, VAT and Sales Tax, Legal framework VAT Act 2007 (as amended), VAT revenue sharing formula in Nigeria, VAT Rate in Nigeria, taxable person and Registration for VAT, VAT and its exceptions, food and basic food items, major controversies on basic food items, rendering of account, determination of chargeable value added tax, offences and penalties. Methodology used in arriving at the conclusion was content analysis, which employs the review of relevant books and articles on the subject of VAT, reader would learn basic concepts in VAT and fully understand those factors determine basic food items and how these factors do influences VAT returns.

Keywords: Taxation, VAT, Food, Basic Food Items, Offences and Penalties

JEL Classification: M40, M41, M49

Suggested Citation

Oyedokun, Godwin Emmanuel, Nigerian Value Added Tax System and the Concept of Basic Food (March 19, 2016). Available at SSRN: or

Godwin Emmanuel Oyedokun (Contact Author)

Lead City University Ibadan Nigeria ( email )

+2348033737184 (Phone)


OGE Professional Services Ltd ( email )

2nd Floor, Back Wing, 28, Adeyemi Street, Off LUT
Mushin, Lagos

Nasarawa State University, Keffi ( email )

Department of Accounting
Faculty of Administration
Keffi, Nasarawa 234
+23480833737184 (Phone)

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