Revenue from VAT, CIT don fall 18% to N1.18trn
Revenue from Value Added Tax VAT and Company Income Tax, CIT, don fall quarter on quarter (QoQ) by 18.6 percent to N1.18 trillion for di first quarter of 2023 (Q1’23) from N1.45 trillion in Q4’22.
National Bureau of Statistics reveal di tori for di VAT report for Q1’23, wey show say VAT revenue stand for N709.59 billion, rising QoQ by 1.75 percent from N697.38 billion for Q4 ’22.
According to di NBS, on di aggregate, VAT for Q1’23 bin dey reported at N709.59 billion, and he show growth rate of 1.75 percent on a QoQ basis from N697.38 billion in Q4’22.
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However, inside di CIT report for Q1’23 NBS, yarn say CIT fall QoQ by 37.8 percent to N469.01 billion from N753.88 billion in Q4’22.
NBS yarn say on di aggregate, CIT for Q1’23 bin dey reported at N469.01 billion, and e show growth rate of -37.7 percent on QoQ basis from N753.88 billion in Q4’22.
You fit go read di tori see wetin dey happen as Revenue from VAT don fall…READ MORE
