In August, the Tax Administration (TA) collected a gross amount of 96,77 million euros, which is five million euros above the plan for that month, made after the budget was rebalanced due to the Covid-19 pandemic.
PU announced that this collection is ten million euros or nine percent below the realization from August last year.
"Looking at the structure of the realized collection, it should be pointed out that the collection of corporate income tax is continuously growing, so this trend continued during August. A collection of 4,48 million euros was achieved, which is one million euros or 25 percent more compared to last year's August," the announcement states.
The PU said that, after a several-month period in which the collection of taxes and personal income contributions had a downward trend, during August it managed to achieve a significant result in the collection of that type of income, especially thanks to the collection of debt from some of the largest tax debtors. but also thanks to the continuation of the program of subsidizing the gross earnings of employees, and the slight recovery of the economy during the summer tourist season.
"Thus, 16,15 million euros were collected on the basis of personal income tax, which is one million euros or six percent more than in August last year, while on the basis of mandatory social security contributions, 50,38 million euros were collected, i.e. ten percent more than last year", said the PU. On the other hand, the greatest challenge in the collection of PU is faced with value added tax (VAT), where during August a decrease compared to last year by 14,5 million euros was recorded, which is a direct consequence of the economic crisis caused by the Covid-19 pandemic. , due to which the summer tourist season did not meet expectations and due to which there was a drastic drop in traffic in all activities, especially catering and hotel industry.
"The decrease in taxable turnover and VAT income is particularly visible among taxpayers operating in the coastal region, namely in Budva, where there was a decrease of 76 percent, Herceg Novi and Tivat 72 percent, Kotor 71 percent, Ulcinj 65 percent and Baru 62 percent, which resulted in a lower collection of VAT on the coast in the total amount of eight million, or 70,5 percent", specified the PU.
PU, as they announced, will continue to make maximum efforts in order to ensure the continuity of collection and to compensate for the revenues whose collection fell behind in the second and third quarters of this year due to the Covid-19 pandemic, thus contributing to the stabilization of public finances. "We expect that taxpayers will also demonstrate a satisfactory level of voluntary compliance with tax obligations and the orderly settlement of due obligations, despite the challenges they face," the announcement concludes.
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