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Nigerians pay N1.09tn indirect taxes to govt in six months

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The National Bureau of Statistics (NBS) has revealed that in the first six months of 2022, Nigerians paid N1.09 trillion in indirect tax to the federal government.

NBS revealed this in its latest Q2 2022 GDP data report released at the weekend.

According to NBS, the indirect tax paid by Nigerians represents a 10.29 percent increase from N984.33bn paid in the first two quarters of 2021.

Read also: Nigerian govt’s revenue saved by taxes, as oil income hits 4-month low

Indirect taxes are calculated based on current basic prices. They are taxes paid to the government by a producer or retailer and later passed on to the consumer.

Further details from the report showed that the taxes grew from N636.19bn in Q1 and Q2 of 2020 to N984.33bn in the corresponding period of 2021, rising to N1.09tn in the same period of 2022.

The breakdown showed that in first quarter of 2022, Nigerians paid N584.8 billion indirect tax and N500.7 billion in second quarter.

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