Beer, beverage makers generate Nigeria's highest company tax -- NBS

said the federal government generated N392.77 billion as Company Income Tax in the first quarter of the year.

This is against N295.72 billion generated in Q4 2020 and N295.68 billion generated in Q1 2020, representing a 32.82 per cent and 32.84 per cent increase respectively.The bureau said breweries,and bottling companies generated the highest amount of CIT with N23.26 billion, closely followed by professional services including telecoms which generated N18.17billion.

It said state ministries and parastatals generated N17.35 billion while textile and garment industry generated the least and closely followed by mining and automobiles and assemblies with N13.49 million, N34.40 million and N73.57 million generated respectively. Out of the total amount generated in Q1 2021, N152.33 billion was generated as CIT locally while N184.59bn was generated as foreign CIT payment.

You will still see all Aboki werey destroying beer and they're using the tax money to build massion in dubai, and other foreign countries.

Still people up north still has the mind to sabotage the alcohol industry even when they share from the tax it generates. Madness!

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