Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q1 2024

Executive Summary On the aggregate, Value Added Tax (VAT) for Q1 2024 was reported at N1.43 trillion, show ing a growth rate of 19.21% on a quarter-on-quarter basis from N1.20 trillion in Q4 2023. Local payments recorded were N663.18 billion, Foreign VAT Payments were N435.73 billion, while import VAT contributed N332.01 billion in Q1 2024. On a quarter-on-quarter basis, ac commodation and food service activities recorded the highest growth rate with 59.15%, fol lowed by the activities of administrative and support with 47.79%. On the other hand, Activi ties of extraterritorial organizations a…