N1.07 trillion collected in the nine months period of 2020 despite a decline in collection in the third quarter.
According to the NBS, total VAT collected over the first, second and third quarter 2021 were reported at N496.39 billion, N512.25 billion and N500.49 billion respectively compared to the corresponding figures of last year at N324.58 billion, N327.20 billion and N424.71 billion respectively. Sectorial analysis show that collections from the Other Manufacturing activity; Professional Services activity; and State Ministries & Parastatals accounted for the top three largest share of revenue in Q1 2021 with N49.41billion or 21.97 per cent, N42.50 billion at 18.90 per cent, and N26.96 billion at 11.99 per cent respectively.
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