The Tax Administration (TA) has collected a total of 1,4 billion euros in gross revenue in the first ten months of this year. This is, they said, 17 million euros more than in the same period last year.
The collection plan for the period from the beginning of January to the end of October was achieved at a level of 99,6 percent.
"During this period, the Tax Administration has worked intensively on the implementation of planned activities related to the tourist season in the areas of inspection supervision and revenue collection, as well as on strengthening proactive communication and service approach towards taxpayers," the statement reads.
Value added tax collection amounted to 495 million euros, which is 92 million euros or 23 percent more than last year, and 456 thousand euros higher than planned.
227 million euros were collected on the basis of corporate income tax, which is 21 million euros or 10 percent more than in the same period last year, and 14,4 million euros more than planned.
339 million euros were collected on the basis of contributions, which is 32 percent lower than the collection in the same period last year.
"The reason for the reduced collection of contributions is the reduction in the PIO contribution rate in accordance with the legal amendments from October 1, 2024, which reduce the PIO contribution at the expense of the insured from 15 percent to 10 percent, and the contribution at the expense of the employer from 5,5 percent to 0 percent, i.e. now the total burden on the basis of PIO contributions for all categories of taxpayers is 10 percent," they note in the statement.
They said that the results achieved from January 1 to October 31 confirm that the Tax Administration is successfully achieving the goals defined in the strategic plan, with a special focus on combating the informal economy, improving tax discipline, and strengthening cooperation with taxpayers.
"In the coming period, we will continue to implement activities aimed at modernizing business processes, transparency of work and further growth of tax revenues to the benefit of the stability of public finances in Montenegro," they said.
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