Moscow’s income from income tax increased by 13.9%

In the first seven months of 2022, payments to the Moscow budget for corporate income tax reached RUB 747.5 billion, which is 13.9% more than in the same period last year. This was reported by the press service of the Moscow Department of Finance.

The increase in the volume of payments compared to the same period last year directly indicates the financial condition of business entities and indirectly – an increase in production volumes, sales and revenues, maintaining or increasing the level of profitability.

The share of tax payments in total income for the first seven months of 2022 amounted to 33.7%.

A large amount of payments to the Moscow budget came from transport companies. This volume increased by 1.9 times, or by 15.7 billion rubles, and reached 33.6 billion rubles. The Moscow manufacturing industry is also increasing its income tax payments – the growth in revenues from it amounted to 23.6%, or 11.7 billion rubles. The total amount of receipts reached 61.4 billion rubles.

Julia Abugalieva