Podgorica, (MINA-BUSINESS) – The revenues collected by the Tax Administration amounted to €955.4 million in the first seven months, €3.3 million more than in the last year’s corresponding period.

The tax authority stated in a press release that VAT revenues totalled €295 million, up 21 percent year on year.

The Tax Administration also collected €216 million in corporate income tax, which is €18 million more than in last year’s corresponding period.

“A total of €230 million was collected in contributions, €102 million less than in the comparative period. This decline was expected and aligns with amendments to the Law on Mandatory Social Security Contributions, which reduced the contribution rate. This is part of the Government’s broader fiscal policy aimed at relieving the payroll tax burden,” the PU explained.

During the summer tourist season, the Tax Administration is generating significant budget revenues through intensified efforts to increase voluntary tax compliance, improve proactive communication and support services for taxpayers, and strengthen inspection oversight.

“The outlined activities aimed at improving revenue collection efficiency have continued, and the upward trend is expected to continue in the coming period,” the press release reads.