Company Income Tax rises in Q1'21 - Vanguard News
Vanguard News Company Income Tax rises in Q1’21 On By Elizabeth Adegbesan The Federal Government generated N392.77 billion as Company Income Tax (CIT) in the first quarter of this year (Q1’21). This represents a 33 percent quarter-on-quarter (QoQ) increase in CIT when compared with N295.7 billion generated in Q4’20. In its CIT by Sector Report for Q1’21 released yesterday, the National Bureau of Statistics (NBS) said that the CIT generated in Q1’21 comprises N152.33 billion generated locally and N184.59 billion generated as foreign CIT payment. The balance of N55.85 billion was gen...