Montenegro Collected 130 Million Euros in Customs Revenues in July
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In July, Montenegro’s Management Board reported a total revenue generation of 130 million euros, marking an increase of 19 million euros, or 17 percent, compared to the same period last year.
“The revenue target for July was exceeded by nine million euros, equivalent to seven percent,” stated the administration, according to Mine’s report.
As noted by its representatives, the Customs Administration is focused on efficient revenue collection, which greatly enhances total budget revenues through robust fiscal policy measures.
Regarding the composition of collected revenues, all types of duties contributed to the successful collection.
“The most significant growth in revenue was attributed to value-added tax (VAT), which amounted to 88 million euros, showing an increase of 17 million euros or 24 percent compared to last year,” the statement clarified.
Additionally, a gross collection of 35.6 million euros was made from excises, while revenue from customs amounted to six million euros.
Revenue from cavers tax totaled 273,000 euros, and other sources generated 13,000 euros.
The overall total of customs revenues for the first seven months of this year reached 723.09 million euros, representing an increase of 58.44 million euros or nine percent over the same timeframe last year.