Federal finance and statistics / National Bureau of Statistics

Company Income Tax Q2 2022

Executive Summary On the aggregate, Company Income Tax (CIT) for Q2 2022 was reported at N714.40 billion, indicating a growth rate of 29.53% on a quarter-on-quarter basis from N551.53 billion in Q1 2022. Local payments received were N634.01 billion, while Foreign CIT payment contributed N80.39 billion in Q2 2022. On a quarter-on-quarter basis, the Activities of accommodation & food services recorded the highest growth rate with 481.93%, followed by Information & communication with 430.67%, and Transportation & storage with 339.08%. On the other hand, Activities of extraterritorial organization…