Company Income Tax Q4 2021

Executive Summary

On the aggregate, Company Income Tax (CIT) for Q4 2021 stood at N347.81 billion, a decline by 26.39% on a quarter-on-quarter basis from N472.52 billion in Q3 2021. Local payments recorded were N258.85 billion, while Foreign CIT Payment contributed N88.96 billion. On a quarter-on-quarter basis, positive growths were recorded in accommodation and food service activities (116.01%); activities of extraterritorial organizations and bodies (128.92%); activities of households as employers, undifferentiated goods and services-producing activities of households for own use (563.56%); construction(33.32%); electricity, gas, steam, and air conditioning supply (84.68%); human health and social work activities (31.47%); other service activities (37.28%); professional, scientific and technical activities (51.47%); public administration and defence, compulsory social security (29.46%); real estate activities (17.99%); transportation and storage (2.04%); water supply, sewerage, waste management and remediation activities (26.08%); and wholesale and retail trade, repair of motor vehicles and motorcycles (13.91%).

Data source: National Bureau of Statistics