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Bulgaria's Customs Collect BGN 350M Less Than Forecast in Q1 2014

Politics » DOMESTIC | July 7, 2014, Monday // 14:55| Views: 1005 | Comments: 0
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Bulgaria: Bulgaria's Customs Collect BGN 350M Less Than Forecast in Q1 2014 Photo by BGNES.

Bulgaria's Customs Agency has recorded a total of BGN 350M underperformance in VAT and excise duty revenue compared to the monthly estimates set by the treasury in Q1 2014.

In June only, the Agency's revenues from VAT and excise duty lagged behind with BGN 152M based on the estimated revenue for the month. With the expected BGN 398M monthly revenue from import VAT, the Customs have collected a total of BGN 291M.

Excise revenues for June were BGN 328M compared to the estimated BGN 374.5M, Sega Daily reports based on preliminary data on the Customs Agency revenue plan implementation for 2014.

The expected revenues from VAT on imports, collected from January until June totaled BGN 1.75B, or about BGN 75M less than the collected sum for the period January to June 2013. Meanwhile, the expected growth for 2014 was BGN 541.7M compared to the revenue collected last year.

Excise duty collected from January to June 2014 was BGN 28M more than the same period of 2013. Meanwhile, the forecast excise duty revenue growth for 2014 is BGN 322M, Sega Daily informs.

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Tags: Customs Agency, revenue, excise duty, VAT, import
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