• Wed. Oct 4th, 2023

DòtunRoy.com

We Break the News

FINANCE NEWS Social Development

“From VAT alone FG generates N808bn in 2018′ – NBS

ByMuyiwa

Jan 4, 2019

National Bureau of Statistics, NBS, has said the revenue generated from Value Added Tax, VAT, from sectoral distribution from first to third quarters of 2018 was N808 billion.

VAT is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale.

Sectoral Distribution of VAT for Q2 and Q3, 2018 posted on the bureau’s website, showed an increase in the revenue generated from VAT  during the year under review.

The report showed that N273.50 billion was generated as VAT in the third quarter, N266.73 billion in the second quarter and N269.79 billion in first quarter of the year respectively.

The figures represented an increase of 2.54 per cent quarter-on-quarter, and 9.16 per cent increase year-on-year.

The report showed that the manufacturing sector generated the highest amount of VAT with N31.48 billion.

This, it said, was closely followed by Professional Services and Commercial and Trading, both generating N25.57 billion and N15.99 billion respectively.

It further stated that the mining sector generated the least, and was closely followed by Pharmaceutical, Soaps and Toiletries and Textile and Automobiles and Assemblies with N52.70 million, N177.34 million and N265.35 million respectively.

In addition, it stated that of the total amount generated in the third quarter of the year under review, N128.62 billion was generated as Non-Import VAT locally, while N58.84 billion was generated as Non-Import VAT for foreign.

The report, however, noted that the balance of N86.04 billion was generated as Nigeria-Customs import VAT in the year.

Muyiwa

Muyiwa is an information management expert and Development Blogger. He is passionate about human angle stories to all social issues in Nigeria and Africa.

Related Post

NEWS
‘FG to create 50,000 jobs through Artificial Intelligence for Nigerians’ – Bosun Tijani
Oct 2, 2023 Muyiwa
NEWS Politics
4000 Jobs in Europe: Self-sufficient Imo Youths, an impeccable Vision of Governor Uzodimma
Sep 30, 2023 Muyiwa
NEWS
Another Promising Lady killed due to Insecurity in FCT, Negligence of Maitama General Hospital
Sep 29, 2023 Muyiwa
91 thoughts on ““From VAT alone FG generates N808bn in 2018′ – NBS”

  1. Amoxicillin For Fish Price Mail Order Stendra 100mg With Free Shipping Fedex Shipping [url=http://catabs.com]priligy 30 mg o 60 mg[/url] 5151.1?Esetprotoscanctx Ca31208 Rxhealth Viagra Cialis Et Autres Efectos Secundarios Cialis [url=http://ciali20mg.com]cialis online[/url] Acquistare Caen Gel Kamagra Viagra Basso Costo Levitra Koln Rocket Kamagra Dapoxetine Comme Le Kamagra [url=http://6drugs.com]buy generic cialis online[/url] Men’S Meds Online

  2. Will Amoxicillin Help Hand Foot Mouth [url=http://4nrxuk.com]acheter vrai viagra en ligne en antibes[/url] Levitra Generique 20mg En Ligne Cheep Levitra Viagra En Vente Libre En France Viagra Pills Buy [url=http://cialgeneric.com]online cialis[/url] Amoxicillin Suspension Kids Taste Contraindicaciones De Propecia Buy Prevacid Online Sale Generic Stendra [url=http://bmpha.com]levitra 20mg generique cialis[/url] Orlistat 120mg Online No Script Levitra Gunstigster Preis Propecia Low Fertility [url=http://corzide.com]generic viagra[/url] Get Priligy Prescription Online Propecia Medimecum Cialis Ingrediente Activo [url=http://viaacost.com]viagra online pharmacy[/url] Acheter Cialis Sur Ebay Viagra Kaufen Gute Frage

  4. I’m so happy to read this. This is the kind of manual that needs to be given and not the random misinformation that’s at the other blogs. Appreciate your sharing this greatest doc.

  9. I always used to study paragraph in news papers but now
    as I am a user of web thus from now I am using net for articles or reviews, thanks to web.

  10. I’m truly enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more pleasant for me to come here and visit
    more often. Did you hire out a designer to create your theme?
    Outstanding work!

  15. I think this is one of the most vital info for me. And i am
    glad reading your article. But should remark on some general things, The website style is great, the articles
    is really great : D. Good job, cheers

  17. I am extremely inspired together with your writing talents and also with the format on your blog.
    Is this a paid topic or did you customize it
    your self? Either way stay up the nice high quality
    writing, it’s uncommon to see a great blog like this one
    these days..

  20. Howdy, i read your blog from time to time and i own a
    similar one and i was just wondering if you get a lot of
    spam comments? If so how do you reduce it, any plugin or anything you can recommend?
    I get so much lately it’s driving me mad so any support
    is very much appreciated.

  21. My brother suggested I might like this website. He was entirely right.
    This post actually made my day. You cann’t
    imagine simply how much time I had spent for this info!

    Thanks!

  30. Today, I went to the beach front with my kids.
    I found a sea shell and gave it to my 4 year old daughter and
    said “You can hear the ocean if you put this to your ear.” She put the shell to her ear
    and screamed. There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is completely off topic but I had
    to tell someone!

  40. I’m really impressed with your writing skills and also with the layout on your
    weblog. Is this a paid theme or did you modify it yourself?
    Anyway keep up the excellent quality writing, it is rare to see
    a nice blog like this one nowadays.

  45. whoah this blog is wonderful i like reading your posts.

    Stay up the good work! You realize, a lot of individuals are searching around for this info, you can help them greatly.
    plenty of fish natalielise

  46. I think this is among the most significant info for me. And
    i am glad reading your article. But wanna remark on some general things,
    The site style is wonderful, the articles is really great : D.

    Good job, cheers

  48. you are in reality a just right webmaster. The web site
    loading velocity is incredible. It sort of feels that you are doing any distinctive trick.
    Also, The contents are masterwork. you have performed a wonderful
    process in this matter!

  50. Hey there! I’ve been reading your weblog for a while now and finally got the bravery to go ahead and give you a shout out from Porter Texas!
    Just wanted to mention keep up the good job!

  51. It is the best time to make some plans for the future and it’s time to be happy.
    I have read this post and if I could I desire to suggest you few interesting things or advice.
    Maybe you could write next articles referring to this article.

    I want to read even more things about it!

  55. Howdy! This post could not be written any better!
    Reading through this post reminds me of my previous room mate!
    He always kept chatting about this. I will forward
    this write-up to him. Fairly certain he will have a good
    read. Thank you for sharing!

  56. hello!,I love your writing so so much! percentage
    we communicate extra approximately your article on AOL?
    I need a specialist on this space to solve my problem. Maybe that is you!
    Having a look ahead to see you.

  58. Hmm it looks like your blog ate my first comment (it was
    super long) so I guess I’ll just sum it up what I submitted and say,
    I’m thoroughly enjoying your blog. I as well am an aspiring blog blogger but
    I’m still new to the whole thing. Do you have any recommendations for
    newbie blog writers? I’d genuinely appreciate it.

  65. Pretty section of content. I just stumbled upon your weblog and in accession capital to assert that I get actually enjoyed account your blog posts.

    Any way I will be subscribing to your feeds and even I achievement
    you access consistently fast.

  68. Appreciating the persistence you put into your site and detailed information you provide.
    It’s good to come across a blog every once in a while that isn’t the same out of date rehashed material.

    Wonderful read! I’ve saved your site and I’m adding your RSS feeds to my Google account.

  69. Please let me know if you’re looking for a author for your site.
    You have some really good articles and I feel I would be a good asset.
    If you ever want to take some of the load off,
    I’d absolutely love to write some content
    for your blog in exchange for a link back to mine. Please
    shoot me an email if interested. Thanks!

  71. Aw, this was an exceptionally good post. Spending some time and actual effort to produce a top notch article… but what
    can I say… I procrastinate a lot and never seem to get nearly anything done.

  72. Hiya very nice website!! Guy .. Beautiful .. Amazing .. I will bookmark your web site and take the feeds additionally?
    I am happy to find numerous useful info right here within the publish,
    we want develop more techniques on this regard, thanks for sharing.
    . . . . .

Leave a Reply

Your email address will not be published.

4 + eight =