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MIL OSI Translation. Region: Russian Federation –

E. Samarin.

The main share was made up of taxes, which were transferred by tax agents.

Income from personal income tax (PIT) to the capital’s budget for the last nine months amounted to 773 billion rubles. This is 6.2 percent more than in the same period last year, and almost half of the volume of tax revenues in 2020.

“In January – September 2020, the Moscow budget received one trillion 616 billion rubles in tax revenues, the growth rate compared to the same period last year amounted to 97.8 percent. At the same time, personal income tax receipts are ahead of the indicators for the same period for the third month in a row. This means that the capital’s enterprises were able to keep the staff and their salaries during the crisis, ”said the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations

Vladimir Efimov.

The main share of the total amount of personal income tax receipts – 91 percent – is made up of taxes that tax agents transferred for citizens. For nine months, their volume increased by 6.2 percent compared to the same period in 2019 and amounted to 706 billion rubles.

Personal income tax revenues from those who independently transfer taxes increased by 13.3 percent – up to 54 billion rubles. This category includes notaries, lawyers, security guards, citizens who received income from renting out property, winning the lottery or sweepstake.

“The sectoral structure of personal income tax revenues to the Moscow budget in January-September 2020 demonstrates an increase in payments for this tax in most areas of the city’s economy compared to the same period last year. Revenues from organizations operating in the field of information technology and communications increased by 13.9 percent, trade by 2.3 percent, and manufacturing enterprises by 0.8 percent. These industries are the drivers of the recovery growth of the city’s economy, their tax and non-tax payments to the Moscow budget are consistently increasing, “she noted. Elena Zyabbarova, Minister of the Moscow Government, Head Department of Finance…

Income tax revenues have not yet reached last year’s level. So, as of October 1, only 599 billion rubles were received in the capital’s budget. This is 10.3 percent less than in the first nine months of last year. At the same time, within the framework of anti-crisis support, enterprises in the most affected industries received a deferral to pay most taxes, including income tax. In addition, the lag behind the indicators of the previous period for income tax and many other taxes is gradually decreasing, which also demonstrates the positive dynamics of the gradual recovery of the Moscow economy.

“Thus, tax receipts under the simplified taxation system for nine months amounted to 78.6 billion rubles, with a growth rate of 93.5 percent compared to January-September 2019. In turn, the proceeds of the transport tax amounted to 10 billion rubles, here the growth rate was 97.9 percent, land tax – nine billion rubles, the growth rate – 96.7 percent “, – said the head

Department of Economic Policy and Development of the City of Moscow Kirill Purtov…

In addition, Moscow will continue to operate a number of anti-crisis support programs… There are 14 types of payments for small and medium-sized businesses. This includes subsidies for hotels, commercial coworking spaces and franchisees, residents of technology parks and members of the Moscow Innovation Cluster, social enterprises, organizations in the field of sports, culture, leisure, education and much more.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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