Sunday, January 17, 2021

Company income tax revenue hits N416.01bn in Q3

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Revenue from Company Income Tax rose slightly to N416.01bn as of the end of the third quarter of 2020.

The National Bureau of Statistics disclosed this in the Company Income Tax by Sectors (2015 – Q3 2020) report.

In the report, Data on Company Income Tax breakdown by sectors for Q3 2020 reflected that the sum of N416.01bn was generated as CIT as against N402.03bn generated in Q2 2020, and N520.89bn generated in Q3 2019 representing 3.48 per cent increase quarter-on-quarter, and -20.13 per cent decrease year-on-year.