Federal finance and statistics / National Bureau of Statistics

Company Income Tax Q2 2023

Executive Summary On the aggregate, Company Income Tax (CIT) for Q2 2023 was reported at N1.53 trillion, indicating a growth rate of 226.40% on a quarter-on-quarter basis from N469.01 billion in Q1 2023. Local payments received were N1.02 trillion, while Foreign CIT Payment contributed N505.91 billion in Q2 2023. On a quarter-on-quarter basis, water supply, sewerage, waste management, and remediation activities recorded the highest growth rate with 626.52%, followed by accommodation and food service activities with 585.11%. On the other hand, education had the lowest growth rate with - 15.48%,…