Breaking News

NBS: Nigeria Earned N600.15bn From VAT In Q2

The National Bureau of Statistics (NBS), says the aggregate Value Added Tax (VAT) was reported at N600.15 billion for Q2 2022.

This was according to the VAT Q2 2022 Report released in Abuja on Saturday.

According to the report, this showed a growth rate of 1.96 per cent on a quarter-on-quarter basis from N588.59 billion in Q1 2022.

The report said the local payments recorded were N359.12 billion, while foreign VAT payments contributed N111.13 billion in Q2 2022.

It said on a quarter-on-quarter basis, electricity, gas, steam and air conditioning supply recorded the highest growth rate with 116.47 per cent, followed by accommodation and food service activities with 42.44 per cent.

“On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate with 42.39 per cent.

“This was followed by activities of households as employers, undifferentiated goods- and services-producing activities of households for own use with 36.57 per cent.”

In terms of sectoral contributions, the report showed the top three largest shares in Q2 2022 were Manufacturing with 33.08 per cent, information and communication with 18.98 per cent, and mining and quarrying with 10.60 per cent.

“On the other hand, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.03 per cent.

On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate with 42.39 per

About Editor

Check Also

FTZs Attracted $26bn Investments In 30 Years–NEPZA

A total of 625 Companies with cumulative investments of $26bn are currently operating in the …

Leave a Reply