Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q2 2022

Executive Summary On the aggregate, Value Added Tax (VAT) for Q2 2022 was reported at N600.15 billion, showing a growth rate of 1.96% on a quarter-on-quarter basis from N588.59 billion in Q1 2022. Local payments recorded were N359.12 billion, while Foreign VAT Payment contributed N111.13 billion in Q2 2022. On a quarter-on-quarter basis, Electricity, gas, steam and air conditioning supply recorded the highest growth rate with 116.47%, followed by Accommodation and food service activities with 42.44%. On the other hand, Activities of extraterritorial organizations and bodies had the lowest grow…