VAT: MANUFACTURING SECTOR CONTRIBUTES N864BN IN 6 YEARS –NBS
Written by thereachfm on March 1, 2019
The National Bureau of Statistics (NBS), has said that the Nigerian manufacturing sector contributed about N864 billion of the N3.63 trillion generated as Value Added Tax (VAT) between 2013 to 2018.
The NBS report on Sectoral Distribution of VAT showed that the manufacturing sector’s contribution represented 24%of the total VAT generated within the six-year period.
A breakdown indicated that N481.5 billion was generated in 2013, N493.9 billion in 2014, while N759.4 billion and N777.51 billion were generated in 2015 and 2016 respectively.