Revenue from VAT increased by 20.7% y/y, from PIT 25.7%, CIT decreased 22.9%
As of August 2024, state budget revenues from VAT increased by 20.7% y/y (about PLN 33.3 billion), totaling PLN 194.2 billion. PIT revenues rose by 25.7% y/y (around PLN 12 billion) to PLN 58.8 billion. In contrast, CIT revenues fell by 22.9% y/y (about PLN 12.4 billion), amounting to PLN 41.7 billion.
In August 2024, VAT revenues were PLN 23.9 billion, up 19.5% from the previous year, due to industrial production and retail sales growth. CIT revenues for August were impacted by annual tax settlement dates, with high receipts observed in April 2024 due to annual adjustments.
Excise tax revenues reached PLN 57.9 billion, a 6.1% increase compared to the same period in 2023. Non-tax revenues for January-August 2024 totaled PLN 42.8 billion, down by 2.9% from the previous year.
The budget deficit stood at PLN 88.65 billion at the end of August 2024, achieving 48.2% of the annual target.
