Budget and tax revenues realized last month overperformed the projected fiscal revenues by 1.6% third month in a row, Vice Prime Minister and Minister of Finance, Zoran Stavreski announced Friday.
 
He explained that all revenues, including tax revenues, were higher than the projected ones, while VAT revenues, being the most important indicator of the overall economic activity in the country grew by 2.8%.
 
– September was a month in which continued tendency of realizing revenues higher than the same month last year was observed. Like in June and August, total revenues in September surged by 2.24% compared to the same period last year.
 
He pointed out that total budget deficit in the first nine months amounted to 1.6% of GDP which, according to him, was fully within the projected budget deficit, and it will remain at a controlled low level of 2.5% of GDP by the end of the year.
 
Minister Stavreski underlined that the state had no debts on the basis of VAT refund and that liabilities towards the companies are settled within the legally prescribed deadline of 30 days.
 
As of September inclusive, all liabilities on the basis of VAT refund are settled, Stavreski emphasized.
As regards the avoidance of double taxation, he pointed out that the Government and the Ministry of Finance are strongly committed to preparing new agreements on avoidance of double taxation and protection of investors. Such an agreement to be signed with Montenegro was adopted at government session yesterday.
 
– We have signed such agreements with ten or so European countries. However, we will review the requests of the businessmen as regards this issue. We will accept everything than can be accepted and we will also initiate procedure for negotiations with the countries for which the business community shows interest. I believe that it is important for new markets to be opened, and should the business sector have any ideas, the Government will react accordingly, Finance Minister Stavreski announced.(MIA)