In the first ten months of this year, the Tax Administration of Montenegro collected a total of 1.36 billion EUR in gross revenues, marking an increase of 212.6 million EUR or 18.5% compared to the same period last year. The collection plan for the period from January to the end of October was exceeded by 124.8 million EUR, or 10%.
According to the Tax Administration, revenue growth was achieved in almost all tax categories.
Value Added Tax (VAT) revenue amounted to 402.4 million EUR, an increase of 67.3 million EUR compared to the same period last year, and 12 million EUR above this year’s plan.
Corporate Income Tax collected 206.2 million EUR, exceeding last year’s collection by 61.6 million EUR, and a 32% increase over the plan.
Social Security Contributions totaled 495 million EUR, up 46 million EUR or 10% from last year, and 25.4 million EUR higher than the planned collection for this year.
In October 2024, the total gross revenue collection reached 125.7 million EUR, a 4.25 million EUR or 4% increase compared to the same period last year.
The higher revenue collection across all tax forms is attributed to increased fiscal discipline, driven both by encouraging voluntary compliance with tax regulations and the implementation of enforcement measures and sanctions against illegal business practices.
The statement concludes by highlighting the effectiveness of these efforts in boosting fiscal discipline and ensuring greater tax compliance.
