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Tax Service Raking in the Dough
The Federal Tax Service will collect 6.67 trillion rubles for the consolidated federal budget this year, according to a report the service published on Friday. The 585 billion rubles from the bankrupt YUKOS oil company and rising personal incomes have ensured that the tax service will meet its goal for the year. The receipt of taxes on personal incomes are up over 30 percent this year. As of the end of last month, the tax service had collected 92.5 percent of its target (compared to 102.7 percent at the same time last year). Last year, the tax service collected a total of 5.22 trillion rubles.
VAT is the biggest contributor to tax receipt growth this year, at 1.3 trillion rubles, up 53 percent between January and November of this year, as compared to the same period of last year. Personal income tax is up 35.8 percent to 1.1 trillion rubles. The profits tax on organizations is up 30.2 percent at 2 trillion rubles. VAT collection got off to a slow start this year, but collection unexpectedly doubled in June, reaching 190 billion rubles. It was 250 billion rubles in October.
YUKOS accounted for 17 percent of income to the federal budget in the first 11 months of the year. The 35.8 percent rise in personal income tax receipts on incomes that rose an average of 27.4 percent between January and October, as compared to the same period of last year, can be credited to the success of a tax service advertising campaign encouraging people to declare their income. The growth of consumer crediting also contributed to that trend.
www.kommersant.com
All the Article in Russian as of Dec. 17, 2007
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Photo: Nikolay Cyiganov
