Over Two Hundred Billion Naira Generated From VAT In 3rd Quarter Of 2019

The National Bureau of Statistics (NBS) has revealed that the Nigerian government has generated over N275.12 billion as Value Added Tax (VAT) in the third quarter of 2019.

The NBS who made this known in its Sector Distribution of VAT for 2019 third-quarter report in Abuja.

It explained that what was realised in the third quarter was less compared to N311.94 billion generated in the second quarter of 2019.

The NBS report indicated that N273.50 billion was generated in the third quarter of 2018, representing 11.81 per cent decrease Quarter-on-Quarter and 0.59 per cent increase Year-on-Year.

It further explained that professional services generated the highest amount of VAT with N32.09 billion.