site.btaExcise Duty Revenues Grow in September for Third Consecutive Month

The Customs Agency on Wednesday reported BGN 612 million in monthly revenues from excise duties collected in September 2023, up by 14.3% compared with September 2022. This is the highest monthly amount of excise duty revenues in five years, not counting the months when some of the rates were updated (June 2019 and March 2023). It marked an increase for the third month in a row.

Between January and September 2023, revenues from excise duties totalled BGN 4,552.6 million, increasing by 5.7% compared with January-September 2022.

The rise in excise duty proceeds resulted mainly from growing revenues from tobacco and tobacco products and a general pick-up in business activity. The last two months have seen an upturn in excise duty revenues from petrol and gas oil under a duty suspension arrangement.

Between January and September 2023, revenues from excise duty on tobacco and tobacco products amounted to BGN 2,430.7 million leva, which was 8.7% more than a year earlier. Excise duty proceeds from alcohol, alcoholic drinks and beer grew by 6.4%, while those from fuels dropped by 1.7%.

The underperformance of the first half of 2023 is expected to be offset by the year's end.

Total revenues (from VAT at import, customs duties, excise duties, fines etc.) administrated by the Customs Agency amounted to BGN 1,188.1 million in September 2023 and BGN 9,274.4 million in January-September 2023.