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Economy | Taxes & Tariffs

N295.72bn Generated as Company Income Tax in Q4 2020 - NBS

Jan 27, 2021   •   by   •   Source: Proshare   •   eye-icon 1286 views

Wednesday, January 27,2021 09:00 AM / by NBS/ Header Image Credit:  NBS


Sectoral distribution of Company Income Taxdata for Q2020reflected that the sum of N295.72bnwas generated as CIT in Q4 2020as against N416.01bngenerated in Q3 2020and N362.01bngenerated in Q4 2019 representing -28.91decreaseQuarter-on-Quarter and -18.31decreaseYear-on-Year.

 

Professional Services including Telecomsgenerated the highest amount of CIT with N32.17bn generatedand closely followed by Other Manufacturing generating N25.64bn,Commercial and Trading generating N19.41bn while Textile and Garment industry generatedthe least and closely followed by Mining and Local Government Councils with N104.37m,N136.99m,and N298.73mgenerated respectively.

 

Out of the total amount generated in Q4 2020,N162.00bnwas generated as CIT locally whileN63.52bnwas generated foreign CIT payment. The balance of N70.20bnwas generated as CIT from other payments.

 

ClickHere to Download Q4 2020 Company Income Tax by Sector PDF Report


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 Proshare Nigeria Pvt. Ltd.


 Proshare Nigeria Pvt. Ltd.

 

 Proshare Nigeria Pvt. Ltd.

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