Nigeria’s company income tax revenue declined by 13.35%, the latest report the National Bureau of Statistics (NBS) indicated.
The report put the total company income tax revenue for 2020 at N1.41 trillion, indicating a significant shortfall compared to N1.63 trillion recorded in the previous year.
Professional services top the list of sectors with the highest contributions at N180.26 billion, followed by other manufacturing sector with N100.4 billion company income tax payment.
Others on the list include; Banks and financial institutions (N96.4 billion), commercial and trading (N68.5 billion), while breweries, bottling, and beverages remitted N53.2 billion in company income tax.
