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

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

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.

About Dotun Roy

DotunRoy.com is a development driven news website with the overall goal of amplifying, promoting and advocating for positive societal change through Sustainable Development advocacy in line with UN SDGs components such as education, environmental sustainability and Climate Change, Human Rights, health, finance, housing, good governance as well as security in Nigeria and across the world.


Strict Standards: Only variables should be assigned by reference in /home/dotunroy/public_html/wp-content/themes/jarida/comments.php on line 21
  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

  3. Nebenwirkungen Viagra 50 Mg generic cialis canada Free Shipping Direct Levaquin Worldwide

  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.

  5. Duramale Vs Priligy levitra Propecia Proscar Benign Prostatic Hyperplasia Cialis Y Prostata

Leave a Reply

Your email address will not be published. Required fields are marked *