Adam Smith, while discussing what he tagged as “Canons of Taxation”, in “Wealth of Nations”, outlined some principles he described as “Principles of Good Taxation”. These principles include fairness, certainty, convenience and efficiency. By fairness, he means that the condition of the taxpayer should be considered before enforcing tax on them. This is in addition to the ability of the taxpayer to pay the tax.
One day, that man came to him to collect the sand, but he looked at him abruptly and said, “Why can’t you bend down and fetch it by yourself? Why should I be giving you what you can have if you work hard?” In the beginning, the will to challenge the Federal Government on VAT collection by the states was spearheaded by a single state, but by looking at the fruition that may come out from the success of such a legal battle, some states from the South-South joined Ekiti in the suit, thereby, sending their representative to the appellate court.
According to the FIRS, VAT is “a consumption tax paid when goods are purchased and services rendered”. To this end, “all goods produced within or imported into the country are taxable except those specifically exempted by the VAT Act”.
Each states should use their internally generated VAT & send 10% to federal government
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