N338.94b earned from VAT in Q1- NBS

N338.94b earned from VAT in Q1- NBS

The National Bureau of Statistics said the country generated N338.94 billion as Value Added Tax (VAT) in the first

quarter of the year.

This represents a 15.66 percent year-on-year rise when compared to N293.04 billion generated in the corresponding period of last year.

It also showed a 9.9 percent increase quarter-on-quarter, against N308.48 billion generated in the fourth quarter of 2019.

The NBS disclosed this in its Sectoral Distribution of VAT Report for Q1’20.