Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q1 2023

Executive Summary On the aggregate, Value Added Tax (VAT) for Q1 2023 was reported at N709.59 billion, showing a growth rate of 1.75% on a quarter-on-quarter basis from N697.38 billion in Q4 2022. Local payments recorded were N436.10 billion, Foreign VAT Payments were N151.13 billion, while import VAT contributed N122.37 billion in Q1 2023. On a quarter-on-quarter basis, the activities of households as employers, undifferentiated goods- and services producing activities of households for own use recorded the highest growth rate with 349.86%, followed by construction with 95.64%. On the other h…