Tax Administration: In July, the collection trend continued

The collection of corporate income tax amounted to 198 million euros and exceeded last year by 61,4 million euros. Growth was also achieved in relation to the plan, namely 34 percent

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Photo: Tax Administration of Montenegro
Photo: Tax Administration of Montenegro
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

The Tax Administration (TA) collected EUR 952 million in gross revenue in seven months of this year, which is EUR 172,6 million or 22 percent more compared to the same period last year.

The PU said that the collection plan for the period from January to the end of July was exceeded by 114,5 million euros or 14 percent.

"On the basis of value added tax (VAT), 243 million was collected, which is 44,5 million more compared to the comparative period and 12 million more than the plan for this year", specified the PU.

The collection of corporate income tax amounted to 198 million euros and exceeded last year by 61,4 million euros. Growth was also achieved in relation to the plan, namely 34 percent.

"The collection of contributions amounted to 331,8 million euros and is higher than the collection for last year by 33 million euros or 11 percent. The collection is 19 million euros more than planned for this year," the announcement states.

The PU said that in July gross revenue collection amounted to 134,4 million euros, which is 24,9 million or 23 percent more compared to the same period last year, or 16,6 million or 14 percent more compared to the revenue plan for July.

"In the months of the summer tourist season, the PU strives to achieve as much budget revenue as possible through activities aimed at increasing the degree of voluntariness in reporting and paying tax obligations and intensified inspection supervision," the announcement concludes.

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