Nigeria’s vat revenue soars 19.2% to n1.43 trln in q1 2024. by temi olowu. nigeria’s value added tax (vat) revenue surged to n1.43 trillion in the first quarter of 2024, reflecting a 19.21% increase from the n1.20 trillion recorded in the previous quarter, according to the latest report from the national bureau of statistics (nbs) released. The federal government of nigeria has generated n1.43 trillion from value added tax (vat) in the first quarter of 2024, marking a 19.21percent increase from the n1.20 trillion recorded in the last quarter of 2023, according to the national bureau of statistics (nbs). this rise in vat revenue comes as company income tax (cit) for.
The document said: “on the aggregate, value added tax (vat) for q1 2024 was reported at n1.43 trillion, showing a growth rate of 19.21% on a quarter on quarter basis from n1.20 trillion in q4. The national bureau of statistics (nbs) said the aggregate value added tax (vat) stood at n1.43 trillion in q1 2024. this is according to the vat q1 2024 report released in abuja on tuesday. the report shows a growth rate of 19.21 per cent on a quarter on quarter basis from n1.20 trillion recorded in q4 2023. However, on a year on year basis, vat collections in q1 2024 increased by 101.65% from q1 2023. meanwhile, company income tax (cit) for q1 2024 was reported at n984.61 billion, indicating a growth rate of –12.87% on a quarter on quarter basis from n1.13 trillion in q4 2023. The national bureau of statistics, nbs, said the aggregate value added tax, vat, stood at n1.43 trillion in q1 2024. this is according to the vat q1 2024 report released in abuja on tuesday. the report shows a growth rate of 19.21 per cent on a quarter on quarter basis from n1.20 trillion recorded in q4 2023. […].
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