Public revenues increase by €455.1 million in nine months

The Ministry of Finance has announced that, compared to the same period last year, the public revenues increased by €455.1 million or 31.4 percent in the first nine months of this year, reaching €1.9 billion.

“The highest increase in revenues was recorded in the category of corporate income tax, where the total for the first nine months was €140.99 million, compared to €82.04 million for the same period last year. Situation is similar in the category of value-added tax (VAT) revenues, which amounted to €789.99 million this year, compared to €665.18 million in the same period last year,” stated a press release issued by the Ministry of Finance.

The revenues coming from excise duties amounted to €242.22 million in the first nine months, compared to €188.4 million in the same period last year.

“An increase in revenues was also recorded with contributions, which amounted to €387.75 million, up from €307.35 million in the last year’s corresponding period. Compared to the plan, the revenues were higher by €328.3 million or 20.9 percent,” stated the press release.

“Compared to the plan, the highest increase is observed in VAT revenues (€79.7 million or 11.2 percent), excise duties (40.8 million or 20.3 percent), corporate income tax (€30.3 million or 27.4 percent), contributions (€70 million or 22.1 percent), tax on international trade and transactions (€10 million or 34.5 percent), and fees (€11.1 million or 35.4 percent).

“A good tourist season has also contributed significantly to an increase in VAT and excise revenues, both compared to the plan and the same period of the previous year,” said the Ministry.