Sectoral distribution of Value Added Tax (VAT) data for Q3 2019 reflected that the sum of N275.12bn was generated as VAT in Q3 2019 as against N311.94bn generated in Q2 2019 and N273.50bn generated in Q3 2018 representing -11.81% decrease Quarter-on-Quarter and 0.59% increase Year-on-Year.

• Did You Know that tax incentives are deductions, exclusions or exemptions from a tax liability offered as an enticement to engage in a specified activity that would benefit the economy of a country in the long run?  
• Did You Know that tax incentives are government measures intended to encourage individuals and businesses to either invest money into the economy or save money by reducing the amount of tax they are liable to pay
• Did You Know also knowthat, in Nigeria, there are some incentives on Personal Income Taxes (PIT)?
• The following are the four fundamental facts you need to know about the incentives given for PIT in Nigeria: