VAT revenues increase by ALL 6.8bln in 11-month period compared to 2016

Revenues from VAT, also known as consumer tax, has increased this year.

According to official statistics of the Ministry of Finance, VAT revenues for the 11 month period were realized at ALL 126 billion, 6.8 billion more year-on-year.

Thus in the same period of the previous year the collection of revenues from this tax resulted in the value of 119.2 billion ALL.

One of the factors that may have influenced the income of this item may be business awareness and formalization of transactions, but a great impact might have come from tax controls, especially those focused on coastal areas, where economic activity over the summer months is higher.

But according to an analysis of the tax authorities, the growth of domestic fuel production has reduced the import of this product leading to lower VAT revenues on imports.

Domestic fuel covered around 30.1% of consumption during the 11-month period of 2017 compared with 2.5% in 2016.

Likewise, a great impact produced the good performance of VAT refunds by 57% more than the 11-month period of 2016.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.