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{"id":319170,"date":"2023-07-21T05:46:02","date_gmt":"2023-07-21T04:46:02","guid":{"rendered":"https:\/\/www.thetidenewsonline.com\/?p=319170"},"modified":"2023-07-21T05:53:07","modified_gmt":"2023-07-21T04:53:07","slug":"faac-shares-n907bn-to-fg-states-lgas","status":"publish","type":"post","link":"https:\/\/www.thetidenewsonline.com\/2023\/07\/21\/faac-shares-n907bn-to-fg-states-lgas\/","title":{"rendered":"FAAC Shares N907bn To FG, States, LGAs"},"content":{"rendered":"The Federation Account Allocation Committee (FAAC) has shared the sum of N907.054billion for June 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
\nThis was contained in a communiqu\u00e9 issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023, yesterday.
\nThe meeting was chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.
\nThe total distributable revenue comprised distributable statutory revenue of N301.501billion, distributable Value Added Tax (VAT) revenue of N273.225billion, Electronic Money Transfer Levy (EMTL) revenue of N11.436billion and Exchange Difference revenue of N320.892billion.
\nThe balance in the Excess Crude Account (ECA) was $473,754.57.
\nThe communiqu\u00e9 stated that Gross statutory revenue of N1.153trillion was received for the month of June 2023, higher than the sum of N701.787billion received in the previous month by 451.134billion.
\nAccording to the communiqu\u00e9 signed by Bawa Mokwa Director (Press and Public Relations) Office of the Accountant General of the Federation, Companies Income Tax (CIT) recorded tremendous increase in the month under review.
\nImport and Excise Duties, Value Added Tax (VAT), Oil and Gas Royalties increased significantly, while Petroleum Profit Tax (PPT) and Electronic Money Transfer Levy (EMTL) decreased considerably.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federation Account Allocation Committee (FAAC) has shared the sum of N907.054billion for June 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a communiqu\u00e9 issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023, yesterday. The meeting was chaired by the […]<\/p>\n","protected":false},"author":1,"featured_media":236693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[76],"tags":[688],"yoast_head":"\n
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