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The budget collects ALL 287 billion for the 5-month period

2024-06-18 15:31:08, Ekonomi CNA

The budget collects ALL 287 billion for the 5-month period

Illustrative photo, taken from Google

287.1 billion ALL were collected in the state budget in the first five months of the year, with an increase of 11.2% compared to the same period of the previous year.

In value, 29 billion ALL more were collected. The main impact on this increase was provided by social insurance contributions (+8.4 billion ALL), VAT (+4.5 billion ALL), personal income tax (+4 billion ALL).

Customs brought in 5.6 billion ALL more than the five months of the previous year. On the decline was income from profit tax (-1.7 billion ALL), but finance clarified that this is related to the effect of the tax for energy producers, which was collected in 2023 due to the extraordinary increase in energy prices.

According to the announcement of the Ministry of Finance , the total income for the 5-month period reached about 287.1 billion ALL or 103.4% of the plan for the same period. Compared to the same period last year, about 29 billion ALL more were collected, or 11.2% more than the 5-month period of 2023.

The revenues collected by the General Directorate of Taxes and the General Directorate of Customs (including Contributions collected by DPT) reached 247 billion ALL, 22.8 billion ALL or 10.2% more compared to the same period of 2023, as well as 4.9 billion ALL or 2% more than the 5-month plan for 2024.

Source: Ministry of Finance

Customs revenues (revenues from import VAT, excise duties, customs taxes and royalties) were realized in the amount of ALL 89.7 billion, ALL 5.6 billion or 6.6% more than the 5-month 2023, as well as ALL 108 million or 0.1% more more than the customs revenue plan for the 5th month of 2024.

Revenues from VAT on imports for the 5th month result in 61.8 billion ALL, 3.6 billion ALL or 6.2% more than the same period of the previous year, as well as 461 million ALL or 0.7% less than the plan for the 5th month of 2024 .

Excise revenues were realized in the amount of ALL 23.1 billion, ALL 2 billion or 9.4% more than the same period of 2023, as well as ALL 512 million or 2.3% more than the excise plan for the 5-month 2024.

Revenues from mining rents in export were realized in the amount of 1.3 billion ALL, 58 million or 4.4% less compared to the same period of last year and realization in the amount of 97.2% compared to the plan for the 5-month 2024.

Revenues from customs taxes have been collected in the amount of 3.5 billion ALL, 37 million ALL or 1.1% more than 5-month 2023, as well as realization in the amount of 102.7% against the plan.

Tax revenues (revenues from net VAT in the country, profit tax, personal income tax, national taxes and contributions collected by DPT), for the 5th month of 2024, were realized in the amount of 157.3 billion ALL, 17.3 billion ALL or 12.3 % more than last year's 5-month period, as well as 4.8 billion ALL, or 3.1% more than the 2024 5-month plan.

The revenue from VAT collected (net) was realized in the amount of 23.2 billion ALL, 4.5 billion ALL or 24.2% more than the 5-month 2023, as well as 39 million ALL or 0.2% less than the VAT plan to be cashed in the 5th month of 2024.

Revenues collected from the profit tax amounted to ALL 27.6 billion, ALL 1.7 billion, or 5.8% less than the 5-month 2023, (this is due to the effect of the tax on energy producers in 2023) as well as 1.5 billion ALL or 6% more than the 5-month plan of 2024 for Income Tax.

Personal income tax was collected in the amount of ALL 26.8 billion, ALL 4 billion or 17.5% more than the 5-month 2023 plan, as well as ALL 905 million or 3.5% more than the 5-month 2024 plan.

National taxes for the 5-month period 2024 were realized in the amount of 16.4 billion ALL, 2.1 billion ALL or 14.4% more than the 5-month period 2023, as well as 335 million ALL or 2.1% more than the plan for the 5-month period 2024.

The income collected from contributions for social and health insurance (administered by DPT), was realized in the amount of 63.4 billion ALL, 8.4 billion ALL or 15.2% more than the 5-month 2023, as well as 103.3% realization of the plan for 5- the month of 2024.

General public expenditures, for the 5-month period of 2024, reached about 236.6 billion ALL with a realization of 93.8 percent of the plan for the period, while compared to the same period of 2023, they are 6.4 percent higher or about 14.3 billion ALL more. In annual terms, the general expenses for the 5th month of 2024 were realized to the extent of 32.1 percent of the annual plan according to the initial budget and 31.8 percent of the annual plan according to Normative Act no. 1 dated 21.02.2024 (AN no. 1).

Current expenses for the 5-month period of 2024 resulted in approximately ALL 216.1 billion, while compared to the same period a year ago, this item was 9.1 percent higher or approximately ALL 18.1 billion more./ Monitor.al