Nigeria Recorded N1.43tr VAT in Q1
The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N1.43 trillion in Q1 2024.
This is according to the VAT Q1 2024 Report released in Abuja on Tuesday.
The report shows a growth rate of 19.21 per cent on a quarter-on-quarter basis from N1.20 trillion recorded in Q4 2023.
The report also showed that local payments recorded were N663.18 billion, while foreign VAT payments contributed N435.73 billion, while import VAT contributed N332.01 billion in Q1 2024.
On a quarter-on-quarter basis, the report showed that accommodation and food service activities recorded the highest growth rate at 59.15 per cent, followed by the activities of administrative and support at 47.79 per cent.
