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Nigeria information a complete of N600.15 billion from Worth Added Tax (VAT) in Q2 2022. That is indicative of a 17.16% on a year-on-year foundation.
That is in keeping with a report lately launched by the Nationwide Bureau of Statistics. The VAT collected in Q2 2022 grew by 1.96% when in comparison with the N588.59 billion in Q1 2022.
The report added that on a quarter-on-quarter foundation, Electrical energy, gasoline, steam and air con provide recorded the best progress fee with 116.47%, adopted by Lodging and meals service actions with 42.44%.
Key highlights of the report
- Nigeria information N600.15 billion from Worth Added Tax (VAT) in Q2 2022.
- Nigeria earned extra from native funds as the information present that native funds recorded have been N359.12 billion, whereas Overseas VAT Cost contributed N111.13 billion in Q2 2022.
- Actions of extraterritorial organizations and our bodies had the bottom progress fee with –42.39%, adopted by Actions of households as employers, undifferentiated goods- and services-producing actions of households for personal use with –36.57%.
- Three main contributors to the Q2 VAT are manufacturing, info and communication, and mining and quarrying, contributing 33.08%, 18.98 and 10.60% respectively.
- Actions of households as employers, undifferentiated goods- and services-producing actions of households for personal use recorded the least share with 0.03%, adopted by Actions of extraterritorial organizations and our bodies with 0.05%; and Water provide, sewerage, waste administration and remediation actions with 0.13%.
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