Breweries, Bottling firm pay over N35bn VAT in 2017

Business News

By Franklin Ocheneyi

BREWERIES, Bottling and Beverages Company in Nigeria’s manufacturing landscape topped the sector in the Fiscal Year 2017 in payment of Value Added Tax (VAT) to the Federal Government by N35.709 billion.

According to the National Bureau of Statistics, out of the grand total of N972.34 billion generated from the VAT by the Federal Inland Revenue Services, FIRS in 2017 fiscal year, the manufacturing sector generated the highest amount of VAT revenue at N119 billion.

A further breakdown of the amount of VAT paid by the sectoral group of Manufacturers Association of Nigeria (MAN), showed that Breweries, Bottling and Beverages firm led in VAT payments to the tune of N35.709 billion.

Others are Publishing, Printing, and Paper Packaging N2.523 billion; Automobile & Assembles N1.754 billion; Chemicals, Pains and Allied Industries N1.500 billion. Others are Textile and Garment Industry N969.4million and Pharmaceuticals, Soaps and Toiletries generated the least with over N837 million.

 

Leave a Reply