Tourism and salaries "inflate" the state coffers

2024-09-19 09:27:00, Ekonomi CNA

The state budget collected ALL 463.8 billion until the month of August, or 103.4% of the plan for the period. Compared to the same period last year, about 38.2 billion ALL or about 382 million euros more than the 8-month period of 2023 were collected.

Tax revenues had the most positive performance, which for the 8th month of 2024 were realized in the amount of 152 billion ALL, or 12.2% more than the 8th month of the previous year. Compared to the 8-month plan, the revenue collected is 6.7 billion ALL more.

The highest impact on this performance was given by the income from VAT, due to the high consumption stimulated by the entire tourist season. Net collected VAT revenues were realized in the amount of ALL 37.9 billion, ALL 7 billion or 22.7% more than the 8th month of 2023, as well as ALL 1.2 billion or more than the VAT plan to be collected in the 8th month 2024. Reimbursements for the 8-month period 2024 are ALL 16.4 billion, 33.9% more than the 8-month period 2023.

The increase in salaries in the administration and the increase in the number of contributors also continue to have positive effects, making the income from social and health insurance, collected by the tax administration, amount to 105 billion ALL, 10.7 billion ALL or 11.3% more more than 8-months 2023 as well as exceeding the plan. Personal income tax, which again comes as a result of salary increases, was collected in the amount of 44.9 billion ALL, 5.5 billion ALL or 14.1% more than the 8-month 2023. Tax on profit was realized in the amount of 39.2 billion, or 4.1 % less than the 8th month of 2023, because last year the extraordinary energy tax was collected, while national taxes were realized in the amount of 30 billion ALL, 5.7 billion ALL more than a year ago.

Customs revenues were realized in the amount of 152.7 billion ALL, 11.3 billion ALL or 8% more than the 8-month 2023 and 0.8% more than the plan.

Regardless of the exchange rate, the income from VAT on imports for the 8-month period is 102.9 billion ALL, 7.6 billion ALL or 8% more than the same period of the previous year, and also above the plan.

Revenues from excise duty amounted to ALL 41.9 billion, 9.8% more than in 2023 due to the increase in the import of excise goods. Customs taxes were also recorded with a slight increase, while revenues from mining rents in export were realized in the value of 1.9 billion, registering a decrease of 6.5 percent compared to the previous year.

General public expenditures, for the 8th month of 2024, were realized to the extent of 55 percent of the annual plan according to the initial budget and 52.6 percent of the annual plan according to Normative Act no. 3 date 28.08.2024.