These sectors fetched Nigeria N269 billion VAT revenue in three months
The N269.79bn generated in the first quarter of 2018 was an increase of 6.17% over the N254.1bn realised for the fourth quarter of last year.
The National Bureau of Statistics (NBS), on Friday, May 18, 2018, stated this in its sectoral VAT allocation report released in Abuja, the nation's capital.
The NBS stated in the report that the N269.79bn generated in the first quarter was an increase of 6.17% over the N254.1bn realised for the fourth quarter of last year.
Here is the breakdown of the VAT generation in Q1 2018
Classification Value Added Tax
Banks & Financial Institutions 5.29bn
Breweries, Bottling and Beverages 8.88bn
Building and Construction 2.38bn
Commercial and Trading 14.93bn
Federal Ministries & Parastatals 4.23bn
Hotels and Catering 1.18bn
Oil Marketing 2.51bn
Oil Producing 7.36bn
Other Manufacturig 30.13bn
Petro-Chemical and Petroleum Refineries 1.10bn
Professional Services 16.58bn
State Ministries & Parastatals 11.88bn
Stevedoring, Clearing and Forwarding 1.07bn
Transport and Haulage Services 1.55bn
Textile and Garment industry 285.42m
Agricultural and Plantations 372.57m
Automobiles and Assemblies 441.66m
Chemicals, Paints and Allied Industries 420.85m
Local Government Councils 449.60m
Offshore Operations 797.48m
Pharmaceutical, Soaps and Toileteries 243.44m
Properties and Investments 777.99m
Publishing,Printing, Paper Packaging 339.61m
Last week, Kemi Adeosun, Nigeria's minister of finance disclosed that 19 million citizens are now paying taxes from the 65 million economically active people who "are not tax compliant".
Adeosun told a World Bank Mission of 10 Executive Directors led by Patrizio Pagano, that the country’s taxpayers’ base has risen from 14 million in 2016 to 19 million in 2018, an additional five million people.
She noted that the government would accelerate Nigeria’s growth level and also improve the ‘Ease of Doing Business’ in the country.
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