The National Bureau of Statistics, NBS, has said that the sum of N269.79billion was generated as Value Added Tax, VAT in the Q1 2018, as against N254.10bn generated in Q4 2017 and N221.38bn in Q1 2017.
In its sectoral distribution of Value Added Tax (VAT) data for Q1 2018 released last night, the NBS said the figure represents 6.17% increase Quarter-on-Quarter and 21.87% increase Year-on-Year. Other manufacturing, the bureau said generated the highest amount of VAT with N30.14bn generated and closely followed by professional Services and commercial and trading both generating N16.58bn and N14.93bn respectively.
According to the report, mining generated the least and closely followed by pharmaceutical, soaps & toiletries and textile and garment industry with N46.25 mln, N243.44 mln and N285.43 mln generated respectively.
Out of the total amount generated in Q1 2018, N121.40bn was generated as non-import VAT locally, while N98.40bn was generated as non-import VAT for foreign.
The balance of N50.00bn was generated as NCS-Import VAT.
Two men accused of being witch doctors have been arrested by Zambian Police for allegedly…
A tragic road accident on Friday claimed the lives of three students of Olabisi Onabanjo…
The Chairman, CEO, and founder of Air Peace, Allen Onyema, has been charged with obstruction…
At least 10 people have reportedly died, with many more injured in a stampede at…
The Nigerian National Petroleum Company (NNPC) Limited says the old Port Harcourt refinery has not…
An unconfirmed number of residents of Okija community in Anambra state have reportedly lost their…
This website uses cookies.