Customs agency revenue up by 6% for the first half of the year

In the first half of 2018, the Bulgarian Customs Agency collected revenues from excise duties, VAT on imports, duties and fines amounting to BGN 4 595.9 million compared to BGN 4 345.0 million for the same period in 2017, the agency’s press office reported on 20^th of July. The amount collected was by BGN 250.9 million (5.8%) more than the revenue in the first half of 2017.

Growth is recorded for all types of tax revenues, with receipts from excise increasing by 6.1% (BGN 138.6 million), VAT revenues by 4.7% (BGN 92.2 million) and customs duties going up by 26.9% (BGN 25.0 million).

The significant increase in excise revenue for tobacco products leads to structural changes in the excise goods groups, their relative share being higher than that of fuels.

There is a significant increase (49.4%) in the excise revenue from tobacco for smoking, as it is due to the heated tobacco products subjected to a rate similar to the cut tobacco, according to the Customs Agency.

The data show that about 1.8% of cigarette consumption in the first half of the year is replaced by consumption of this alternative tobacco product, resulting in a loss to the budget revenue of BGN 14.8 million.

Revenue from excise on fuels also rose by 1.7% compared to the first half of 2017.

For the first time, the VAT revenues on import pass the psychological limit of BGN 200 million for the first half of the year, and for the first time the revenues from customs duties exceeded the border of BGN 100 mln in the first half of the year, the customs explained.