The Tax Administration (PU) has reported a gross revenue collection of €952 million for the first seven months of 2024, marking a substantial increase of €172.6 million, or 22%, compared to the same period last year.
According to the PU, the revenue collection exceeded the plan by €114.5 million, or 14%, for the period from January to July.
“VAT collections amounted to €243 million, which is €44.5 million more than in the previous year and €12 million above the planned target for this year,” the PU noted.
Corporate income tax revenue reached €198 million, surpassing last year’s figures by €61.4 million and exceeding the planned amount by 34%.
“Social contributions totaled €331.8 million, an increase of €33 million, or 11%, from the previous year. This amount also exceeds the planned target for this year by €19 million,” the PU reported.
In July alone, the gross revenue collected was €134.4 million, which represents an increase of €24.9 million, or 23%, compared to the same month last year. It was also €16.6 million, or 14%, higher than the revenue target for July.
“The PU is focusing on maximizing budget revenues during the summer tourist season by enhancing voluntary tax compliance and increasing inspection efforts,” the statement concluded.
