FG rakes in N651.7b VAT in H1 2020
The National Bureau of Statistics on Monday said the Federal Government raked in N651.77billion Value Added Tax in the six months of 2020.
In its website report titled “Sectorial distribution of value added tax ”, the bureau noted it was higher than its collection of the corresponding time of last year that was N600.98billion.NBS said: “Sectoral distribution of Value Added Tax data for H1 2020 reflected that the sum of N651.77bn was generated as VAT in H1 2020 as against N600.98bn generated in H1 2019. This represents 8.45% growth Year-on-Year.”The report added professional services generated the highest amount of VAT with N95.
In the period under review, NBS said N335.82bn was generated as Non-Import VAT locally while N161.74bn was generated as Non-Import VAT for foreign.
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