NRA reports revenue growth of nearly 13%

National Revenue Agency reported more than 6.4 billion BGN of receipts as at March 17, 2023. .

This is by 752 million BGN or nearly 13% more compared to the same period last year.

By mid-March, revenues for the central budget exceeded BGN 3.7 billion, an increase of 9.8% compared to the first two and a half months of the previous year.

The personal income tax collected by the NRA was nearly BGN 742 million, corporate income tax - BGN 57.2 million and nearly BGN 2.6 billion. VAT.

Despite the reduced VAT rate for some goods and services from 20% to 9%, VAT receipts in the budget went up by 9%, which is equivalent to BGN 211 million more compared to the same period of the previous year, the revenue agency said.

Revenues from social security contributions as at March 17 exceeded BGN 2.7 billion, which is more than BGN 425 million or 18.5% more compared to the first two and a half months of last year.

The NRA reminds that in 2022 the budget revenues are close to BGN 31.5 billion, which is BGN 3 billion more compared to 2021.

"The growth of revenues in the first months of this year shows that the NRA is working effectively even in the current difficult environment. The revenue agency applies the legislation equally to every taxpayer, using all the legal mechanisms to collect the debts. The National Revenue Agency is a state institution, where nearly 8,000 employees across the country perform their duties professionally and lawfully, and it is unacceptable to be involved in political speculation and used in election campaigns," said NRA Executive Director Boris Mikhailov, quoted by the agency's press centre.