Russia's tax revenues fell by 31.4 percent year-on-year in April, according to a presentation by the head of the Federal Tax Service (FTS) Daniil Egorov at a meeting with Russian President Vladimir Putin on the implementation of measures to support the economy and the social sphere
MOSCOW (Pakistan Point News / Sputnik - 06th May, 2020) Russia's tax revenues fell by 31.4 percent year-on-year in April, according to a presentation by the head of the Federal Tax Service (FTS) Daniil Egorov at a meeting with Russian President Vladimir Putin on the implementation of measures to support the economy and the social sphere.
According to the FTS, actual tax revenues in April 2020 amounted to 1.716 trillion rubles ($23 billion), which is 31.4 percent less than in April last year. In particular, the federal budget received 784.2 billion rubles, a 31.2 percent year-on-year decline.
Profit tax revenue fell 40.8 percent year-on-year to 438.4 billion rubles, personal income tax collection decreased by 14.1 percent to 302.8 billion rubles, value-added tax revenue fell by 26.7 percent to 220.1 billion rubles, while mineral extraction tax collection decreased by 50.8 percent to 269.8 billion rubles.
Egorov said that entrepreneurs affected by the coronavirus-related restrictions would receive tax deferrals. He noted that 1.5 million companies would receive deferrals automatically, a total of 217 billion rubles. In addition, more than 50,000 companies will receive a deferment after submitting a relevant application to the FTS.
