PRESS RELEASE – Tax Revenues Increase by EUR 4.5 Million in May 2020

After a decline in revenues during March and April due to the Covid-19 pandemic, May 2020 marked a return to the upward trend in tax revenues.

It should be noted that the revenue collection rate from the beginning of the year until 18 March 2020 was in line with planning, but after this date a declining trend was observed in revenues as a consequence of the Covid-19 pandemic and the Government decisions to defer payment of tax liabilities and pension contributions.

The total revenues collected in the period January-May 2020 reached EUR 186.1 million, while for May alone the revenue collection stands at EUR 4.5 million or 13% higher than the estimations.

Starting from 12 March 2020, the TAK assisted the Government of Kosovo, acting upon the decision of the Ministry of Finance and Transfers, regarding measures aimed at preventing the spread of Covid-19, accepting denunciations from citizens and conducting business inspections on allegations of abusing the situation created by Covid-19 to raise the prices of basic food and health items. Accordingly, in order to ensure proper implementation of this decision, the TAK reduced its regular activities as per the Work Plan for 2020 to a minimum.

The TAK also carried out a range of other activities in support of government measures taken to combat and prevent the spread of Covid-19.