NewsTax Administration reports 24.5% increase in revenue collection for first five months

Tax Administration reports 24.5% increase in revenue collection for first five months

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The Tax Administration reported a gross revenue collection of EUR 702.8 million over the first five months of the year, marking an increase of EUR 138.4 million or 24.5% compared to the same period last year. Additionally, the collection from January to the end of May exceeded the planned revenues by EUR 95 million or 15.6%.

According to the statement, “The trend of increasing revenue collection continues, with the most significant growth observed in corporate income tax, value-added tax (VAT), and contributions.”

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Corporate income tax collections reached EUR 186 million, reflecting an increase of EUR 58.5 million or 46% over the same period last year, and surpassing the planned figures by EUR 47.6 million or 34.4%.

“VAT collections amounted to EUR 170.3 million, which is EUR 30 million or 21% higher than the same period last year, and EUR 7.3 million or 4.5% above the planned revenue,” the statement elaborated.

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The collection of contributions in the first five months of this year totaled EUR 226.8 million, showing an increase of EUR 25.8 million or 13% compared to the same period last year, and 8% above the planned revenue.

“The Tax Administration is dedicated to enhancing proactive communication, offering service-oriented support to taxpayers, and ensuring the uniform application of regulations for the benefit of citizens and the state,” the statement concluded.

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