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FG Generates N496 Billion VAT In Q1’21 — NBS - Politics - Nairaland

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NBS: Nigeria Generated ₦424.71 Billion VAT In Q3 / Fg Generates Billions Of Dollars From Fulani Herdsmen / FG Rakes In N393.7bn From VAT In 4 Months (2) (3) (4)

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FG Generates N496 Billion VAT In Q1’21 — NBS by DamnnNiggarr(m): 5:27pm On May 08
FG generates N496 bn VAT in Q1’21 — NBS

The National Bureau of Statistics (NBS) said the federal government generated N496.39 billion as Value Added Tax (VAT) in the first quarter of this year (Q1’21).

This represents a nine per cent quarter-on-quarter (QoQ) increase in VAT when compared with N454.69 billion generated in Q4’20.

In its Sectoral Distribution of VAT Report for Q1’21 released today, NBS said that the N496.39 billion generated constituted N224.85 billion local non-import VAT, N171.66 billion Non-Import VAT for foreign and N99.88 billion as Nigerian Custom Service, NCS -Import VAT.

The bureau stated:”Sectoral distribution of Value Added Tax (VAT) data for Q1′ 21 reflected that the sum of N496.39 billion was generated as VAT in Q1’21 as against N454.69 billion generated in Q4’20 and N324.58 billion generated in Q1’20 representing 9.0 per cent increase QoQ and 53 per cent increase year-on-year (YoY).


“Other Manufacturing generated the highest amount of VAT with N49.41 billion generated and closely followed by Professional Services generating N42.50 billion, State Ministries & Parastatals generating N26.96 billion while Mining generated the least and closely followed by Pioneering and Textile and Garment The industry with N48.36 million, N77.01million and N289.41million generated respectively.

“Out of the total amounted generated in Q1’21, N224.85 billion was generated as Non-Import VAT locally while N171.66 billion was generated as Non-Import VAT for foreign. The balance of N99.88 billion was generated as NCS-Import VAT.”

https://www.vanguardngr.com/2021/05/fg-generates-n496-bn-vat-in-q121-nbs/amp/?__twitter_impression=true

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by DamnnNiggarr(m): 5:27pm On May 08
shocked


Oh boy!

But weytin these people dey do with all this money...

We keep hearing billions and trillions,
But money, we no see grin
Development, that one na rocket science.

15 Likes 1 Share

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Akwamkpuruamu: 5:32pm On May 08
And yet we are still mortgaging our future on loans and debts. Voodoo economics and public financial management

4 Likes

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by janedonez(m): 5:32pm On May 08
Oww
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Sunisonflex39(m): 5:33pm On May 08
If them like make them generate their generation.. We all know nothing will come out for the Common man.. they generate all these and yet still borrow.. Tueh

Need a side income,
visit my signature... You will thank me latte

3 Likes

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Kaduna1stson: 5:33pm On May 08
Gumi will be so happy now, half of the money will be used to pay ransom to Fulani.

1 Like

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Strongbest(m): 5:33pm On May 08
Good
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Sandydayziz(f): 5:33pm On May 08
All for what though?
Yeah their pocket? And they’ll still borrow
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by macdammy(m): 5:33pm On May 08
This is just Funds on VAT.
How much more on other income.

The most painful thing is that, with all these money, no single development.
Instead, we re still indebted one Asian country.

I drop my mic for slawormirr

3 Likes

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by ictjobber: 5:33pm On May 08
Money for their private pockets
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Delph123: 5:33pm On May 08
We have a very long way to go in this country grin
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Temptee101(m): 5:34pm On May 08
shocked

Breakfast for the cabals.

Watch how the money will be looted within one week.
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Iyaalakarra(f): 5:34pm On May 08
Very good

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Whitecoal711: 5:34pm On May 08
Yet no electricity
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Lanre4uonly(m): 5:35pm On May 08
That's good.
I do hope the FG would make an effective use of the money realised on VAT.
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by emmimuta: 5:36pm On May 08
Money generated in Nigeria is huge,.... Pls we need report for money generated from stamp duty and electronic levy for Q1... I know billions of naira will show up
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by DubaiLandLord: 5:37pm On May 08
DamnnNiggarr:
FG generates N496 bn VAT in Q1’21 — NBS



https://www.vanguardngr.com/2021/05/fg-generates-n496-bn-vat-in-q121-nbs/amp/?__twitter_impression=true
Where is the state by state breakdown

1 Like 1 Share

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by karkel(m): 5:42pm On May 08
Looter aluta continues
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by TooMuchStuff: 5:42pm On May 08
More crates of Bottled Beer would be destroyed in Kano, bauchi, jigawa and other Fulani terrorists states

While they still await their own share of the alcohol induced VAT. Hypocrites

1 Like 1 Share

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Nobody: 5:43pm On May 08
cool
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by safesurfer: 5:44pm On May 08
I only need 1 billion naira and my life is changed forever, lol.
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by money121(m): 5:45pm On May 08
Too much fund
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Frontail: 5:45pm On May 08
cool

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Umsworld: 5:48pm On May 08
But las las we go still borrow at the end
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by winterfell007(m): 5:50pm On May 08
All these from Vat alone in the first Quarter? They've not computed Company Income Tax, Personal Income Tax and Tax from Nigeria Ports Authority and Customs. Yet we haven't felt the development. This country is irredeemable. To your tents oh Isreal!!

1 Like

Re: FG Generates N496 Billion VAT In Q1’21 — NBS by MEGA4BILLION(m): 5:56pm On May 08
Wicked administration still complaining of no money so as to milk the poor masses the more
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Omodua(m): 6:15pm On May 08
DamnnNiggarr:
FG generates N496 bn VAT in Q1’21 — NBS



https://www.vanguardngr.com/2021/05/fg-generates-n496-bn-vat-in-q121-nbs/amp/?__twitter_impression=true
Good one! Sizeable tax from alcoholic beverages. This is to be shared amongst the States and local governments. Kano and other Sharia States are included. They would never reject the money on the basis it's liquor money. But hypocritically, would be destroying beer parlours and joints on the basis it's against Islamic religion as espoused in suni/wahabbism doctrines.
We are really operating warped federalism where injustices reins supreme.
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by Joejonah(m): 6:23pm On May 08
If dangote cement is paying 226 million naira daily on VAT. I.e 2.5 billion in 3 months, what's all other manufacturing company paying for us to get only 50 billion? I pity this country...
Re: FG Generates N496 Billion VAT In Q1’21 — NBS by owobokiri(m): 6:30pm On May 08
Vat, oil and gas sells, oil blocs concessions, port duties, nomads, taxes ..... Yet they can't even pay salaries..?

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