The Tax Administration achieved gross revenue collection of 466,1 million euros in the first quarter

"166,8 million euros were collected on the basis of corporate income tax, which is 15,1 million or ten percent more than last year," the statement specifies.

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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) achieved gross revenue collection of 466,1 million euros in the first quarter, which is 21,7 million or five percent more than last year.

The collection plan was exceeded by 17,1 million euros or four percent.

The Public Administration said that the collection of value added tax (VAT) amounted to 133 million euros, which is 24,3 million or 22,5 percent more than last year.

"166,8 million euros were collected on the basis of corporate income tax, which is 15,1 million or ten percent more than last year," the statement specifies.

The Public Administration stated that in March this year, gross revenue collection amounted to 247,7 million euros, which is two million or one percent more than in the same period last year. The plan was exceeded by 7,6 million or three percent.

"In March, 157 million euros were collected on the basis of corporate income tax, which is 13,4 thousand euros more or nine percent compared to March last year. VAT collection in March amounted to 31,9 million euros, which is 4,4 million or 16 percent more compared to the comparable period," the statement added.

According to its representatives, the Public Prosecutor's Office is systematically fighting the grey economy together with relevant institutions of the system, in order to create a more favorable business environment in which the space for carrying out illegal activities is reduced.

"In order to improve revenue collection, priorities for action have been defined, including identifying taxpayers with the highest risk, increasing inspection supervision, improving the digitalization of business, and promoting compliance with tax obligations among citizens and businesspeople," the Tax Administration said.

A comprehensive combination of measures will, they concluded, lead to an increase in the number of taxpayers who voluntarily fulfill their tax obligations in the long term.

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