Tax significance of VAT and excise revenues in Serbia, Croatia and Montenegro

Abstract

Indirect taxes, which represent the main type of taxes in less developed countries, are a stable and predictable source of public revenues. As direct taxes have negative impact on economy and economic growth, it is predicted that in developed countries the importance of indirect tax revenues will raise. An analysis has been conducted in this research of tax importance of VAT and excises in Serbia, Croatia and Montenegro in the last decade -from 2010 until 2019. Aim of this research is to confirm importance of these public revenues in analysed countries and to determine their dynamics in observed period, as well as differences in tax structure among these countries. Obtained results confirm significance of these public revenues in the structure of indirect taxes and total tax revenues and they point to their raise as years go by.

Keywords

• value added tax
• excise
• indirect tax
• tax revenue