Abstract
Tax revenue management is an important issue for any fiscal authority and their adequate planning and implementing is especially evident in crisis moments. The problem of the paper is focused on the issue of VAT revenues and their elasticity in relation to economic growth. The aim of the paper is to point out the importance of VAT revenues, which is the most generous tax form in the our country. Generosity is reflected in the fact that VAT revenues are near 30% of the total tax revenues in the Republic of Serbia The subject of the paper includes measuring the elasticity VAT revenues in relation to gross domestic product in the Republic of Serbia. The results of the analysis show the presence of VAT revenues elasticity at the average level, which implies that change of the gross domestic product affects the VAT revenues sensitivity. Analyzing 2020 year and the effect of COVID-19 pandemic, the average elasticity of VAT revenues is 5.67%, with it is especially evident in the first and second quarters of 2020 year.
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