Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q2 2023

Executive Summary On the aggregate, Value Added Tax (VAT) for Q2 2023 was reported at N781.35 billion, showing a growth rate of 10.11% on a quarter-on-quarter basis from N709.59 billion in Q1 2023. Local payments recorded were N512.03 billion, Foreign VAT Payments were N142.63 billion, while import VAT contributed N126.69 billion in Q2 2023. On a quarter-on-quarter basis, the activities of extraterritorial organizations and bodies recorded the highest growth rate with 212.06%, followed by real estate activities with 123.09%. On the other hand, activities of households as employers, undifferent…