The Tax Administration (TA) successfully collected a gross revenue of 466.1 million euros in the first quarter, reflecting an increase of 21.7 million euros or five percent compared to the previous year.

The planned collection target was surpassed by 17.1 million euros, equating to a four percent increase.

The Public Administration reported that value added tax (VAT) collection reached 133 million euros, an increase of 24.3 million euros or 22.5 percent from last year.

“Corporate income tax contributed 166.8 million euros, representing an increase of 15.1 million euros or ten percent compared to last year,” the announcement specified.

The Public Administration noted that in March this year, gross revenue collection amounted to 247.7 million euros, showing an increase of two million euros or one percent from the same period last year. The target was exceeded by 7.6 million euros or three percent.

“In March, corporate income tax collections totaled 157 million euros, which is an increase of 13.4 thousand euros or nine percent compared to March last year. VAT collection for March was 31.9 million euros, up by 4.4 million euros or 16 percent in comparison to the same period,” the statement further elaborated.

The Public Prosecutor’s Office, along with relevant institutions, is actively combating the grey economy to foster a better business environment and minimize opportunities for illegal activities.

“To enhance revenue collection, priorities have been set, including identifying high-risk taxpayers, boosting inspection oversight, advancing business digitalization, and encouraging compliance with tax obligations among citizens and businesses,” announced the Tax Administration.

They concluded that a comprehensive blend of measures will lead to a long-term increase in the number of taxpayers who willingly meet their tax responsibilities.

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