MIL OSI Translation. Region: Russian Federation –
E. Samarin. Mos.ru
The industry’s share in the city budget revenues increased from 6.5 to 7.2 percent.
Payments to the city budget from companies operating in the manufacturing industry for the first nine months of this year increased by 6.7 percent compared to the same period last year and amounted to 129.3 billion rubles. Thus, the industry’s share in the city budget revenue increased from 6.5 to 7.2 percent.
The dynamics of the volume of payments of the processing industry to the Moscow budget demonstrates an 8.2 percent increase in receipts at the end of the first quarter compared to the same period in 2019. In the second quarter, during the restrictive measures, the volume of payments decreased by 100 million rubles, or 0.3 percent, compared to the period from April to June last year. In the third quarter, the manufacturing industry in Moscow returned to the growth trajectory: tax payments increased by 9.2 percent compared to the same period last year.
A positive trend was shown by income tax revenues from organizations in this area.
“In the first nine months of 2020, they grew by 8.5 billion rubles, or 17.1 percent, compared to January-September 2019. The manufacturing industry of Moscow has become the leader in terms of the growth rate of income from corporate income tax among all sectors of the city’s economy, ”she emphasized
Elena Zyabbarova, Minister of the Moscow Government, head of the capital Department of Finance.
The largest increase in deductions for corporate income tax was shown by enterprises of the military-industrial complex. Payments from them increased by 72.4 percent. The enterprises of the medical and pharmaceutical industry increased contributions by 58.2 percent, those producing rubber and plastic products – by 42.4 percent, and light industry – by 27.9 percent.
Income from personal income tax (personal income tax) from manufacturing enterprises for the nine months of 2020 increased by 0.8 percent compared to the same period last year and amounted to 58.7 billion rubles.
In the form of a tax on property of organizations, manufacturing enterprises in January – September 2020 transferred 3.7 billion rubles to the city budget, which is 0.4 billion rubles less than in the three quarters of last year. The decrease was due, among other things, to the provision of a deferral and exemption from tax payments as part of the business support measures implemented by the Moscow Government. The enterprises were able to direct the released funds to the solution of the primary production and social problems, to smooth out the negative impact of the restrictive measures in force in the second quarter of this year.
“The manufacturing industry in Moscow has managed to increase its production volume, improve the efficiency of the use of material and managerial resources, and maintain its share in the highly competitive market. The industry is growing at a rate higher than the average for Moscow industry. For the first nine months of 2020, the industrial production index in the manufacturing segment increased by 4.6 percent, while the general industrial production index in Moscow increased by 3.2 percent compared to the same period last year. Moscow retains its status as a leading industrial center of the country with high production and innovation potential. During the period of restrictive measures, the capital’s industrialists were able to organize a rapid increase in the output of the most demanded products and ensure the stable operation of the industry’s organizations, ”noted Elena Zyabbarova.
According to the head Department of investment and industrial policy of the city Alexandra Prokhorova, Moscow industry demonstrates systemic and steady growth.
“This trend is so persistent that even the pandemic and the period of time constraints it caused could not turn growth into a recession. First of all, this is direct evidence of the effectiveness of measures to support the capital’s industrial enterprises, which have been developed by the Moscow Government. Therefore, we are systematically developing this area of activity. So, for example, in October of this year, it was decided to issue up to 300 million rubles a year to enterprises within the framework of subsidies to reimburse part of the cost of paying interest on loans for the creation and development of the property complex. These funds can be obtained by production facilities in the capital, which have the status of an industrial complex, as well as by organizations implementing investment priority projects of the city of Moscow to create industrial complexes. In general, since 2012, capital enterprises have received subsidies totaling 2.6 billion rubles, ”he concluded.
In Moscow, 58 enterprises already have the status of an industrial complexThe list of recipients of subsidies for the development of production has been expanded
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.