Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) & Company Income Tax (CIT) Q3 2021

Executive Summary The total Value Added Tax (VAT) collected over the first, second and third quarter 2021 were reported at N496.39 billion, N512.25 billion and N500.49 billion respectively compared to the corresponding figures of last year at N324.58 billion, N327.20 billion and N424.71 billion respectively. This shows higher revenue in the first three quarters of 2021, revealing an improvement in collections. On a year-on-year basis, this upsurge shows growth rates of 52.93% in Q1 2021, 56.56% in Q2 2021 and 17.84% in Q3 2021. On the other hand, first and second quarter 2021 Company Income T…