Russia's Federal Tax Service expecting 12% increase in budget system tax receipts to 52.5 trln rubles in 2024

MOSCOW. March 19 (Interfax) - Tax receipts into the Russian budget system will increase 12%, or by 5.7 trillion rubles, to 52.5 trillion rubles in 2024. Head of the Federal Tax Service Daniil Yegorov made this assessment at a department board meeting on Tuesday.

Revenues to the consolidated budget are expected at 40.4 trillion rubles (an increase of 11%, or 4.2 trillion rubles), 23.6 trillion rubles (an increase of 20%, or 4 trillion rubles) are expected to go to the federal budget, and 16.8 trillion rubles (+1%) will go to consolidated regional budgets, the board's information said.

Non-oil and gas revenues to the federal budget will grow 6% to 12.5 trillion rubles, forecasts from the Federal Tax Service show. Income tax revenue is expected to be 1.94 trillion rubles (+1%), while VAT is forecast at 7.7 trillion rubles (+0.7%).

Receipts from insurance premiums are expected to reach 12.1 trillion rubles, which is 14% higher than last year.