Customs revenue to the State Treasury dwindled by BGN 133 mln only for 2 months

During the first two months of the year, the National Customs Agency (NCA) deposited to the budget a total of BGN 133.5 mln less than over the same period last year. This shows the Agency's analysis, presented yesterday to the Deputy Prime Minister and Finance Minister, Simeon Djankov, announced the Ministry of Finance (MF). According to the data, the Customs poured into the Treasury a total of 913.8 mln or 12.7 % less in January-February period compared to the same period of 2009. One of the factors that directly affected budget revenues was the 15% decrease of imports.

The trend for contraction in imports has been maintained since last year. According to NSI (National Statistical Institute) data from 2009, Bulgaria imported goods and services at the amount of BGN 32.7 bn, or 33.4 % less than the previous year, while imports remained more than exports. The statistics also reported that the value of imported goods was nearly 42 % higher than the value of exported (BGN 23 bn).

The Customs also registered reduction of 13.8% for the excise tax and of 7.4% for VAT on imports. The customs duties revenue decreased most severely. They declined by over 53%. During the first two months of 2010, a total of 575.4 mln excise duties revenue was collected. This amount was BGN 92 mln less than during the same period of last year. The lowered import of tobacco products led to a 15.6 % decline of revenues from taxes on tobacco products, or nearly BGN 60 mln less. Revenues from fuel dwindled by 10.9 % or by BGN 27.7 mln. Mainly, Lukoil Neftochim and Lukoil Bulgaria contributed to this reduction. Due to the implemented planning repair, the attracted Lukoil funds from the VAT on imports amounted to about BGN 36 mln. This sum was almost two-fold less than the same period last year. The Customs Agency specified that the funds were accumulated by import of 6 crude oil tankers in January and merely 3 tankers in February. For the first two months of the year, gas excise duties reported a decrease of BGN 50.5 mln. The recovery at the total of BGN 35 mln for destroyed cigarettes as well as the amount of BGN 39 mln returned to the farmers had a negative impact on the state customs revenue for the first two months of 2010.

An increase of 6.2 % was only registered in the revenue from excise duties on alcoholic drinks.
The data showed that the decrease in attracted funds from the value added tax (VAT) on imports was mainly due to decreased imports (by commodity groups) of cast iron and steel by 37 % in value. There was also a decrease in imported machinery and equipment of 19.6%. There was a sharp drop of 47.9 % in the  import of cars. NCA specified that in general the import of industrial, investment facilities and vehicles was lower and resulted from the economic situation in the country.