Government budget revenues increase by €455.1 million in the first nine months

The government budget revenues for the first nine months of this year have increased by €455.1 million or 31.4% compared to the same period last year. The total revenue for the period from January to September this year amounts to €1,902.6 million.

The largest revenue growth was recorded in the category of corporate income tax, with a total collection of €140.99 million for the first nine months, compared to €82.04 million for the same period last year. A similar trend is observed in the category of value-added tax (VAT) revenue, which amounts to €789.99 million for this year, up from €665.18 million for the same period last year.

The revenues generated from excise duties for the first nine months of this year amount to €242.22 million, compared to €188.40 million for the same period last year, marking an increase. Contributions also saw an increase, with revenues totaling €387.75 million for the first nine months of this year, compared to €307.35 million for the same period last year.

Furthermore, when compared to the plan for the January-September 2023 period, revenues exceeded the plan by €328.3 million or 20.9%.

The most significant increases compared to the plan are observed in the following categories:

• VAT, with an increase of €79.7 million or 11.2%;
• Excise duties, with an increase of €40.8 million or 20.3%;
• Corporate income tax, with an increase of €30.3 million or 27.4%;
• Contributions, with an increase of €70 million or 22.1%;
• International trade and transaction tax, with an increase of €10 million or 34.5%;
• Fees, with an increase of €11.1 million or 35.4%.

The substantial growth in revenue realization from VAT and excise duties, both compared to the plan and the same period of the previous year, was driven by a successful tourist season.