Julius Berger pays N4.7bn tax in six month – Report

Julius Berger Nigeria Plc has announced that it contributed N4.7bn in taxes to the Federal Government in the first six months of 2023.

This was disclosed in the company’s 2023 sustainability report filed with the Nigerian Exchange Limited recently.

In addition to its tax payments, the company also made payments totalling N3.7bn to providers of funds in 2023.

According to the construction giant, the amount includes repayments of loans, interest payments, and other financial obligations, ensuring continued access to capital for growth and development projects.

“Following our commitment to transparency and fulfilling our role as a responsible corporate citizen, Julius Berger Nigeria Plc prioritises timely and accurate tax payments. In 2023, we contributed a significant sum of N4,722,264,000 to the government’s tax revenue.

“These taxes are crucial for funding essential public services and infrastructure projects that benefit all Nigerians. By fulfilling our tax obligations, we contribute to building a stronger and more prosperous nation.”

It also disclosed that it paid N83bn employee wages and benefits in 2023 and employee retirement security declined by 11.9 per cent to N2.9bn from N3.29bn in 2022.

Additionally, the company made gratuity payments upon employee retirement or termination, totalling N762m in 2023, which decreased by 55.4 per cent from N1.71bn in 2022.

Revenue for Julius Berger in the prior year reached N443.44bn and it recorded other income of N22.73bn.

Operating costs in the previous year were N346.46bn.

Profit before tax for the company stood at N22.06bn, reflecting the company’s operational efficiency and strategic growth initiatives.

The company’s social responsibility initiatives included a N505m investment in community development projects.