VAT revenues increased ALL 2.5 bln compared to first five months of 2016

Value added tax is also recognized as a consumption tax, but the increasing level of consumption appears to have had a positive effect on revenue from VAT.

According to Ministry of Finance statistics, revenues from VAT the first five months of the year we realized to about ALL 53.7 billion, 2.5 billion more than a year ago.

In the same period a year earlier, collection of revenue from this tax result in the amount of ALL 51.3 billion.

One of the factors that may have affected the income of this item may be business awareness and formalization of transactions.

This came after a lengthy action that the government launched to fight informality, and this tax was proven to have the highest levels of evasion.

But while analyzing the revenues from VAT, fiscal indicators show a higher figure in VAT refunds to businesses.

Just for the period of 5 months, fiscal administration has refunded the refundable VAT amounted to ALL 4.8 billion from ALL 3 billion that was refunded to the same period a year ago.

According to these indicators, we can analyse that although in an election year, the efficiency of tax administration has not decreased, but instead it has increased revenues in the state coffers.

SCAN

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