According to data from the National Bureau of Statistics, consumers and businesses involved in the information and communication sector contributed N631.09bn to tax revenue in 2022.
In 2022, IT will rank as one of the major contributors to value-added tax and corporate income tax.
During the time period under consideration, customers of telecom and other IT services paid N268.84 billion in consumption taxes for services like calls, SMS, data, and more.
Companies in the telecom and IT sectors paid N362.26 billion as CIT. The government received N5.34tn in total from CIT and VAT, with the IT industry contributing 11.82% of that total.
The NBS stated that the information and communication industry is made up of the activities of telecommunications and information services, publishing, motion picture, sound recording, and music production, as well as broadcasting, and that it is one of the biggest contributors to VAT and CIT.
