The Tax Administration (PU) of Montenegro reported a revenue collection of €1.2 billion for the first nine months of the year, marking an increase of €208.3 million, or 20%, compared to the same period last year.
The collection target for January to September was exceeded by €130.4 million, or 12%. All tax categories experienced growth.
- Value added tax (VAT) collected reached €355.9 million, an increase of €64 million from last year and €15.7 million above the planned amount.
- Corporate income tax totaled €204.6 million, exceeding last year’s figures by €63 million and the plan by 34%, or €52 million.
- Contributions amounted to €443 million, up by €44.3 million, or 11%, from last year, and exceeding the planned collection by €26 million.
In September alone, gross revenue collection was €141.8 million, which is €17.9 million, or 14%, more than the same month last year, and €8 million, or 6%, above the planned revenue for September.
During the summer tourist season, the PU generated significant budget revenues through increased voluntary compliance in tax reporting and payments, along with intensified risk-based inspections.
The Tax Administration expects this upward trend in budget revenue collection to continue in the coming period.
