Russia's Federal Tax Service expects tax revenues to consolidated budget to rise 18.9% YoY to 55.6 trln rubles in 2024

MOSCOW. Nov 21 (Interfax) - Tax revenues to Russia's consolidated budget rose 8.1 trillion rubles year-on-year to 46 trillion rubles in January-October 2024, the Federal Tax Service (FTS) said in materials for the meeting of FTS head Daniil Yegorov with President Vladimir Putin.

The FTS expects overall tax revenues to the budget to increase 18.9% year-on-year to 55.6 trillion rubles in 2024.

The federal budget jumped 30% year-on-year, or 4.6 trillion rubles, to 20.2 trillion rubles in taxes in 10M. Meantime, non-oil and gas tax revenues increased 21% year-on-year to 11 trillion rubles. VAT revenues rose 22.1% year-on-year, or 1.3 trillion rubles, and insurance premiums grew 23.3% year-on-year, or 2 trillion rubles.