Romania’s tax agency ANAF collected RON 16.14 billion (EUR 3.5 billion) in May, up 2.2% over the same period in 2016.

The Finance Ministry expected to collect a slightly higher amount in May. However, the collection was below estimations because ANAF had to carry out higher VAT reimbursements to companies in May.

The volume of VAT reimbursements totaled about EUR 302 million last month, up 63.5% over the same month last year, according to ANAF.

In the first five months of this year, the tax agency collected budget revenues of EUR 18.5 billion, up 2.6% compared to the same period last year. However, the budget collection is far from the growth rates estimated by the Government. The state budget estimates total revenues of EUR 25.6 billion for 2017, up 15% over 2016.

The general budget, which includes the pension, unemployment, and health insurance budgets, estimates total revenues of EUR 55.7 billion for this year, up 14% compared to 2016.

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editor@romania-insider.com