Taxation: VAT For Q4 2022 Stood At N697.38bn — Nbs

The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N697.38 billion in Q4 2022.

This is according to the VAT Q4 2022 Report released in Abuja on Wednesday.

The report shows a growth rate of 11.51 per cent on a quarter-on-quarter basis from N625.39 billion in Q3 2022.

The report said the local payments recorded were N408.12 billion, while foreign VAT payments contributed N159.83 billion, and import VAT contributed N129.43 billion in Q4 2022.

It said on a quarter-on-quarter basis, the arts, entertainment, and recreation activities recorded the highest growth rate with 43.82 per cent, followed by human health and social work activities with 35.82 per cent.