Revenue Agency Expects 358 Mln Euro Higher Income in 2012

Revenue Agency Expects 358 Mln Euro Higher Income in 2012

The National Revenue Agency (NRA) expects to pocket some 700 million levs ($464 million/358 million euro) more in revenue from taxes and social security contributions this year.

The increase will come as a result of linking online cash registers with the NRA database, legislative changes and the agency's control activities, local daily Dnevnik reported, citing an NRA press release.

The amount of money paid in Value Added Tax (VAT), which is being reimbursed to local companies, is at a historical low of 213 million levs, three times lower than in 2009.


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