Brewery, bottling, beverages companies generated highest income tax: NBS
The National Bureau of Statistics (NBS) says N392.77 billion was generated as Company Income Tax (CIT) in Quarter One, 2021 (Q1, 2021) an increase of N97.05 billion over N295.72 billion generated in Q4 2020.
This is revealed in the “Company Income Tax by Sectors, Q1 2021” obtained from the bureau’s website on Wednesday in Abuja.
According to the report, the generated amount was N97.09 billion more than the N295.68 billion generated in Q1 2020.
It also said that the Q1, 2021 figure represented a 32.82 per cent increase Quarter-on-Quarter and 32.84 per cent increase Year-on-Year.
The NBS said that the breweries, bottling and beverages generated the highest amount of CIT with N23.26 billion generated and closely followed by professional services including telecoms which generated N18.17 billion.
“State ministries and parastatals generated N17.35 billion while textile and garment industry generated the least with N13.49 million.
“This was closely followed by mining with N34.40 million and automobiles and assemblies which generated N73.57 million.”
The report said that out of the total amount generated in the period under review, N152.33 billion was generated as CIT locally while N184.59 billion was generated as foreign CIT payment.
It added that the balance of N55.85 billion was generated as CIT from other payments.
The NBS said that data for the report was provided by the Federal Inland Revenue Service (FIRS) and verified and validated by the NBS.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
U.S. proposes four-point plan at UN Security Council to halt Sudan war
“The brutality of the war waged by the Rapid Support Forces and Sudanese Armed Forces has discredited their claims to be legitimate governors of the Sudanese people,” said the U.S.
Africa
South Africa’s richest man Johann Rupert becomes $1.3 billion richer, trailing Dangote
South Africa’s richest man has seen his net worth surge to $17.4 billion. Mr Rupert is Forbes’ 161st-richest person globally and second in Africa after Aliko Dangote.
Africa
Spider-Man: Brand New Day shatters West Africa box office with nearly N2 billion
Marvel and Sony’s Spider-Man: Brand New Day has shattered the record for the highest-grossing Hollywood film at the West African box office, grossing N1.8 billion.
NationWide
U.S. embassy warns Nigerian visa applicants about fake documents, security threats
“We are coordinating to protect national security and keep criminals and bad actors out,” the embassy warned on Monday in its #VisaWiseTravelSmart campaign.
Politics
Umahi urges Nigerians to recognise, publicise completed government projects
Works minister David Umahi has advised Nigerians to report infrastructure problems and equally recognise and publicise completed government projects.
![Nigerian Policewomen used to illustrate the story. CREDIT: Twitter]](https://gazettengr.com/wp-content/uploads/Nigerian-Policewomen.jpg)
Health
Prioritise officers’ health, FCID boss tells police medical team
Mr Akpanudom made the call when the force’s medical director, Nkechi Eze, and her team paid a working visit to the FCID Annex, Alagbon, Ikoyi, Lagos, on Monday.
