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The state budget is supported by salaries and personal income tax

2024-02-19 11:13:42Biznes SHKRUAR NGA REDAKSIA VOX

The state budget is supported by salaries and personal income tax

The state budget collected in 2023 about 643 billion lek in revenue, or about 6 billion euros, marking a record level.

Compared to the same period a year ago, revenues increased by 12.3%, or about 71 billion ALL more.

The data shows that individuals are the ones who have had the main impact on the increase of income in the budget, through insurance payments and personal income tax.

About ALL 34 billion were collected from these two items, or almost half of the increase in income.

According to the financial data, income from business profit tax was 17 billion ALL more; from personal income tax 12.9 billion more; 20.8 billion ALL more from social and health insurance contributions'; from VAT 11.4 billion more.

Tax revenues and contributions, for the 12 months of 2023, were realized to the extent of 99.7% with the revised plan increasing with the normative act of the budget, as well as to the extent of 101.3% with the initial plan.

The general public expenditures for the year 2023 reached about ALL 674.7 billion with a realization of 96.6 percent of the annual plan according to the Initial Budget and 95.6 percent of the annual plan amended through Normative Act no. 6, dated 14.12.2023 (AN no. 6). Compared to 2022, general public expenses are 3.6 percent higher or 23.7 billion ALL more.

The deficit level for 2023 resulted in 1.4% of GDP, compared to 3.7% of GDP in 2022.

Income

According to the announcement of the Ministry of Finance, the total revenues for the 12 months of 2023 were realized in the amount of 643.4 billion Lek or 100.1% of the initial budget plan. Compared to a year ago, revenues increased by +70.6 billion ALL or +12.3% more.

The revenues collected by the General Directorate of Taxes and the General Directorate of Customs (including Contributions collected by DPT) were estimated at 561.7 billion ALL, 52.3 billion or 10.3% more, compared to the same period of 2022 , as well as 1.9 billion or 0.3% less than the revised plan with growth for 2023.

Customs revenues (revenues from import VAT, excise duties, customs taxes and mining rents) were realized in the amount of ALL 216.8 billion, ALL 6.3 billion or 2.8% less than the 12th month of 2022, as well as ALL 6.9 billion or 3.1% less than the customs revenue plan for the 12 months of 2023.

Import VAT revenues for the 12 months result in 146.4 billion ALL, 10.5 billion ALL or 6.7% less than the same period of the previous year, as well as 6.3 billion or 4.1% less than the plan for the 12 months 2023.

Excise revenues were realized in the amount of ALL 58.4 billion, ALL 4.8 billion or 9.1% more than the same period of 2022, as well as ALL 607 million or 1% less than the excise plan for the 12 months of 2023.

Revenues from mining rents in export were realized in the amount of 2.9 billion ALL, 1.3 billion or 31.1% less compared to the same period of last year and realization in the amount of 91.4% compared to the plan for the 12-month 2023.

Revenues from customs taxes have been collected in the amount of 9.1 billion ALL, 687 million ALL or 8.1% more than the 12th month of 2022, as well as realization in the amount of 103.8% against the plan.

Tax revenues (revenues from net VAT in the country, profit tax, personal income tax, national taxes and contributions collected by DPT), for the 12th month of 2023, amounted to 344.9 billion ALL, 58.6 billion or 20.5% more more than last year's 12 months, as well as ALL 4.9 billion, or 1.4% more than the 2023 12 months plan.

Revenues from collected VAT (net) amounted to ALL 45.9 billion, 11.4 billion or 33.1% more than 12 months 2022, as well as 1.4 billion or 2.9% less than the plan of VAT to be collected in 12 month 2023. Reimbursements for the 12-month period 2023 are 22.6 billion ALL, 133 million ALL or 0.6% more than the 12-month period 2022.

The income collected from the profit tax was realized in the amount of 64.6 billion ALL, 16.9 billion ALL, or 35.4% more than the 12 months of 2022, as well as 5.6 billion ALL or 9.5% more than the plan of the 12 months of 2023 for Tax on Profit.

The personal income tax was collected in the amount of 57.9 billion ALL, 12.9 billion ALL or 28.7% more than the 12 months of 2022, as well as 1.9 billion or 3.4% more than the plan of the 12 months of 2023.

National taxes, for the period of 12 months 2023, were realized in the amount of 37.2 billion ALL, 3.3 billion ALL or 8.2% less than 12 months 2022, as well as 504 million ALL or 1.3% less than the plan for 12 months 2023.

The income collected from contributions for social and health insurance (administered by DPT), was realized in the amount of 139.3 billion ALL, 20.8 billion ALL or 17.5% more than 12 months 2022, as well as 99.5% realization of the plan for 12 months 2023 .

EXPENCES

The general public expenditures for the year 2023 reached about ALL 674.7 billion with a realization of 96.6 percent of the annual plan according to the Initial Budget and 95.6 percent of the annual plan amended through Normative Act no. 6, dated 14.12.2023 (AN no. 6). Compared to 2022, general public expenses are 3.6 percent higher or 23.7 billion ALL more.

Current and capital expenses have marked a realization respectively in the amount:

– 100.1 percent and 95.9 percent of the annual plan according to the initial budget and

- 99.7 percent and 88 percent of the annual plan according to AN no. 6.

Current expenses for 2023 resulted in about 547 billion ALL, while compared to 2022, this item was 9.4 percent higher or about 47 billion ALL more.

Capital expenditures for the year 2023 present a realization in the amount of 118.9 billion ALL. Compared to 2022, this item is 6 percent higher or about 6.8 billion ALL more.


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