Cash receipts from import duties for July are the highest for the last five years

Cash receipts from import duties for July are the highest for the last five years

The upward trend in the budget revenues administered by the Customs Agency continues

For the month of July 2021 the total revenues (customs duties, VAT from imports, excises and fines), administered by the Customs Agency, amount to BGN 931.0 million. The monthly data for July 2021 show an excess compared to the same period of the previous year (+ BGN 202.1 million) and compared to the previous month – June (+ BGN 42.3 million). The data confirm the trend of increasing monthly revenues compared to previous periods.

In July 2021, the cash receipts from customs duties on imports of goods from third countries were BGN 27.9 million. These are the highest monthly revenues from customs duties for the last more than five years (from January 2016 to the present), as compared to June 2021 the growth is 17.4%. Compared to the same period of 2020, 58.2% more customs revenues are reported.

Cash receipts for VAT on imports in July 2021 amounted to BGN 396.0 million and represented 61.0% more compared to July 2020 and 3.6% more compared to the previous month June 2021.

Revenues from excises for July amounted to BGN 506.1 million, which is 9% more than in the same month last year and 5% more than in June 2021. Growth is reported in all major groups of excisable goods – fuels; tobacco and tobacco products; alcohol and alcoholic beverages.

The tendency for overfulfillment of the indicators and increasing rate of revenue growth is also evident from the data for the first seven months of the year. For the period January-July 2021 the revenues from customs duties, VAT on imports, excises and fines of the Customs Agency amount to BGN 5,715.1 million. The amount is BGN 572.8 million above the revenues in the same period of 2020.

The positive trend in budget revenues administered by the Customs Agency continues in August, with revenue overruns expected. According to forecasts, the total revenues of the Customs Agency for August 2021 will exceed BGN 1 billion.

In accordance with the principle of transparency and openness, the Customs Agency will publish at the beginning of each calendar month in the section About us – the Agency in figures and facts data on the cash execution of revenues.

Source: Customs Agency

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