The National Bureau of Statistics (NBS), says Value Added Tax (VAT) increased by N29.98 billion from N424.71 billion generated in the third quarter to N454.69 billion in the fourth quarter, 2020 (Q4 2020). The NBS said this in its “Sectoral Distribution of Value Added Tax (Q4 2020)” obtained from its website on Wednesday in Abuja. The bureau said that the figure represents 7.06 per cent increase Quarter-on-Quarter and 47.39 per cent increase Year-on-Year from the N308.48 billion generated in Q4 2019. The report said that professional services generated the highest amount of VAT with N42.38 billion generated and closely followed by other manufacturing generating N39.45 billion, while commercial and trading generated N21.15 billion. “Mining generated the least with N58.88 million and closely followed by pioneering and textile which generated N185.72 million, while the garment industry generated N353.75 million. “Out of the total amount generated in Q4 2020, N212.52 billion was generated as Non-Import VAT locally while N143.35 billion was generated as Non-Import VAT for foreign. “The balance of N98.81 billion was generated as Nigeria Customs Service-Import VAT”, it added. Meanwhile, for Company Income Tax (CIT) by Sectors for the period under review, the NBS stated that N295.72 billion was generated as against N416.01 billion generated in third quarter.