Montenegro suffers drop in customs revenue

Montenegro suffers drop in customs revenue

Revenue collection from the Customs Administration in January accounted for an approximately €9.5 million drop compared to the same month last year, according to official data received by the non-governmental organization (NGO) Action for Social Justice.

“Therefore, in January last year, before the eruption of the coronavirus crisis, €48.8 million was earned while in the same month this year €39.4 million was realized. This indicates that the impact of the coronavirus crisis on customs revenue at the beginning of this year remains strong. The figures are in net amounts,” the NGO notes in its announcement.

Individually, the largest decline was recorded in relation to the collection of value added tax (VAT). As a result, in last year’s January 28.9 million were collected against this year’s €21.5 million, marking a 7.4 million loss.

“The collection of excise duties on diesel fuel amounted to €5.5 million in January last year and 4.7 million this January. The collection of excise duties on mineral oils and fuels was €4.4 million last January and €3.7 million this year, while excise duties on unleaded petrol amounted to just over €1 million in both comparative months,” the statement adds.

Customs collection amounted to 1.5 million in January last year and 1.2 million this year’s January. Last January, €4.4 million was earned from excises on imported cigarettes against this year’s €4.5 million.

“Excise taxes on alcohol and alcoholic beverages amounted to €450,000 in January last year and 425,000 this January. The income from the tax on coffee last January was around 190 thousand, while this January it was 230 thousand,” the NGO reports.

As for excises on coal in production, last January the collection amounted to last year 220.000, while this year it was higher and amounted to last year 476.000.

“The coronavirus crisis has been destroying the Montenegrin economy for months, and there’s still no light at the end of the tunnel,” the statement concludes. /ibna