The National Bureau of Statistics (NBS) says N472.07 billion was generated as Company Income Tax (CIT) in Quarter Two (Q2, 2021) as against N392.64 billion generated in Q1.
Nigeria recorded an increase of N15.86 billion Value Added Tax, VAT, revenue from N496.39 billion generated in quarter one (Q1, 2021) to N512.25 billion in Q2.
The Ogun State Internal Revenue Service (OGIRS) has reduced the direct assessment tax payable on stamp duty from 17 to 12 percent, in order to encourage taxpayers and boost revenue generation.