x

NBS: In 3 Months, FG Earns N1.4trn From VAT, CIT

The National Bureau of Statistics (NBS) has disclosed that the federal government generated N1.435trn from Value Added Tax (VAT) and Company Income Tax (CIT) in the third quarter of 2023.

NBS, in reports it released, stated that the government made N810bn from CIT and N625bn from VAT.

It stated that on aggregate, the CIT for Q3 2022 indicated a growth rate of 13.41 per cent on a quarter-on-quarter basis from N714.40 billion in Q2 2022.

It stated also that sectoral contributions for the top three largest shares during the period were manufacturing with 28.76 (N138.9bn); information and communication with 27.31 (N231.9bn) and financial & insurance with 8.81 per cent (N42.5bn).

For VAT, it stated the N625.39bn was a growth rate of 4.21 per cent on a quarter-on-quarter basis from N600.1bn. 

It said local payments recorded were N367.93bn while foreign VAT payments were N121.85bn and import VAT contributed N135.61.

Hot this week

Senator Lalong Chairs UNIJOS Alumni Lecture, Calls for Safeguards in Justice Delivery in Digital Age

Senator Simon Bako Lalong, representing Plateau South Senatorial District...

Bayelsa Police Commissioner Commends Citizens, Tactical Team for Murder Suspect’s Arrest

By Amgbare Prince, Yenagoa The Bayelsa State Commissioner of Police,...

Police to Begin Enforcement of Tinted Glass Permit in Kogi

By Noah Ocheni, Lokoja The Kogi State Police Command has...

Group Presses Nasarawa Assembly for Speedy Passage of Climate Change Bill

y Leo Zwanke, Lafia The Nasarawa State Network on Environment...

Kogi Boat Mishap: Death Toll Rises to 36, 40 Rescued

By Noah Ocheni, Lokoja The National Inland Waterways Authority (NIWA)...

Zulum Approves Hospital, Water Facilities, Security Measures for Violence-Hit Kirawa Community

By Achadu Gabriel, Kaduna Borno State Governor, Prof. Babagana Umara...

Senator Lalong Chairs UNIJOS Alumni Lecture, Calls for Safeguards in Justice Delivery in Digital Age

Senator Simon Bako Lalong, representing Plateau South Senatorial District...

Amnesty International Urges FG to Cut Political Spending, Prioritize Economic Diversification

By Noah Ocheni, Lokoja Amnesty International has called on the...

Kogi Government, FG Empower 8,600 Households with Cash Transfer Programme

By Noah Ocheni, Lokoja The Kogi State Government, in partnership...

Anambra Community to Bury Traditional Ruler October 9

The Oko community in Orumba North Local Government Area...

Security: Wike Lights Up Abuja Districts, Flags – Off integrated Solar Lighting Project

By Joyce Remi-Babayeju The FCT Minister, Barr. Nyesom Wike, on...

Gov Sule Flags Off Bursary Disbursement, Reiterates Commitment to Education

By Abel Leonard, Lafia Governor Abdullahi Sule of Nasarawa State...

Related Articles

Popular Categories

spot_imgspot_img