Russia’s regions received the lowest tax revenue in two years. During the month, the country’s constituent entities collectively earned 94.5 billion rubles less in taxes than a year earlier, including due to a decline in business activity.
The total revenue of Russian regions from tax collection in October this year fell by 6.6%, or 94.5 billion rubles in monetary terms compared to October 2021, FinExpertiza analysts calculated. The decrease in tax revenue to regional budgets in annual terms occurred for the first time since January 2021.
The regions lost mostly from income tax, revenue from which fell 40.2% year-on-year, or 228.5 billion rubles. The authors of the study explained this, among other things, by a decrease in business activity in the regions and a general drop in consumer demand.
Murmansk Region (-66.7%), Krasnoyarsk Territory (-61.2%) and the Republic of Khakassia (-56.7%) became the leaders in reducing tax revenue to budgets . In some subjects of the Russian Federation, for example, in the Ingushetia, Sakhalin and Penza regions, tax revenues have increased.
Despite the fall in tax revenue from the regions in October, in the total for the ten months of 2022 they grew by 14.9% year-on-year. Federal budget revenue in this category increased by 20.4%, the study authors noted.
Author:
Kirill Bilyk
Source: RB
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