Federal finance and statistics / National Bureau of Statistics

Company Income Tax Q1 2022

Executive Summary On the aggregate, Company Income Tax (CIT) for Q1 2022 was reported at N532.48 billion, a growth rate of 53.09% on a quarter-on-quarter basis from N347.81billion in Q4 2021. Local payments recorded were N209.13 billion in Q1 2022, while Foreign CIT Payment contributed N323.35 billion. On a quarter-on-quarter basis, the Activities of extraterritorial organizations and bodies recorded the highest growth rate with 60.61%, followed by Education with 39.76%, and Construction with 38.98%. On the other hand, Activities of households as employers, undifferentiated goods- and services…