The budget was filled with MET and VAT – Newspaper Kommersant No. 9 (7454) dated 19.01.2023
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Of the five main sources of federal budget revenue in 2022, only “import” VAT fell, according to data released yesterday by the Ministry of Finance. Profit taxes and oil and gas export duties increased slightly last year, while “domestic” VAT and severance tax showed significant growth.
The general preliminary results of the execution of the 2022 budget were summed up at a government meeting on January 10 (see Kommersant on January 11). Yesterday, the Ministry of Finance clarified that state treasury revenues amounted to 27.825 trillion rubles, expenses – 31.131 trillion rubles, and a deficit – 3.306 trillion rubles. Of the total income of 11.586 trillion rubles. were oil and gas (plus 28% by 2021), and 16.239 trillion rubles were non-oil and gas revenues (plus only 0.05%, taking into account 12% inflation, they actually fell).
From the figures given by the Ministry of Finance, it follows that the share of fees from the production and sale of oil and gas in the budget in 2022 was about 42% – the dependence of the Russian economy on hydrocarbons has increased again. In 2020, this figure was 28%, in 2021 – 36%.
The main Russian taxes remain MET and VAT (in total – 73% of fees). Production tax in 2022 received 10.644 trillion rubles. On the rise in oil and gas prices compared to 2021, the increase was 49.7%. The second tax, both in terms of growth rates and the amount of receipts, is the “internal” VAT. It was received for 6.489 trillion rubles, which is 18.4% more than it was in 2021. The reason for the growth is the recovery of demand and business activity in the second half of the year. The third largest source of revenue is VAT on imported goods. Against the backdrop of falling imports, its fees decreased by 18% and amounted to 3.063 trillion rubles. It should be noted that the sum of “domestic” and “import” VAT (9.552 trillion rubles) still does not reach the volume of the MET. The collection of export duty on oil, gas and oil products amounted to 2.507 trillion rubles in 2022. and increased by 12.7% compared to 2021. Note that a direct comparison of fees here (and in the case of the MET) is not entirely correct due to the tax maneuver in the oil industry, which involves a gradual increase in MET rates in exchange for lowering duties on exported oil. The top five taxes are closed by income tax, whose collections increased in 2022 by 7.5% compared to 2021 and amounted to 1.669 trillion rubles.
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