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Thursday, November 7, 2024
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Customs Administration surpasses revenue targets with EUR 592.8 million collected in first half of 2023

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For the first half of this year, the Customs Administration collected EUR 592.8 million, surpassing the planned amount by EUR 11.8 million, or 2%.

“This represents an increase of nearly seven percent, or EUR 39.5 million compared to the same period last year,” according to the statement. The bulk of the revenue came from value-added tax (VAT) on imports, totaling EUR 397.8 million, which exceeded the plan by 1.14%.

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Excise tax collections followed at EUR 166.1 million, exceeding the plan by 4.21%, with customs duties amounting to EUR 27.6 million, up by 2.61% from the planned figure. Additionally, EUR 1.28 million was collected from coffee taxes, as specified in the statement.

Compared to the previous year’s figures for the same period, VAT on imports increased by EUR 10.85 million, excise taxes by EUR 25.86 million, and customs duties by EUR 2.83 million.

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In a year-on-year comparison with 2022, total state revenues collected by the Customs Administration showed a significant increase of almost EUR 127 million, marking a rise of 27.3%.

VAT revenue from imports rose by EUR 72.12 million, excise taxes by EUR 44.67 million, and customs duties by EUR 10.02 million.

“During the January to June period this year, excise tax collections amounted to EUR 166.08 million, surpassing the planned amount by 4.21% or EUR 6.7 million. This represents an increase of EUR 25.9 million compared to the same period last year,” the statement highlighted.

Mineral oils and derivatives dominated excise tax revenues with EUR 89.32 million, followed by EUR 54.28 million from tobacco products and EUR 9.29 million from alcohol and alcoholic beverages.

“Compared to the previous year, excise tax collections on tobacco products saw the highest increase at 20.43%, followed by a 16.13% rise in excise taxes on mineral oils and their derivatives,” the statement added.

Overall, comparing revenues from this year and 2022 reveals a notable EUR 15.7 million increase, or 40.91%, in excise tax revenue from tobacco products.

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