17 Sep 2009 11:18

Tax windfalls for Russian budget system down 22.5% in Jan-Aug

MOSCOW. Sept 17 (Interfax) - Tax windfalls and collections for Russia's budget system, including extra-budgetary funds, dropped by 22.5% year-on-year in January-August 2009 to 7.031 trillion rubles, the Federal Tax Service said in its materials.

In addition, tax windfalls into Russia's consolidated budget decreased by 26.7% to 5.9877 trillion rubles.

Windfalls for extra-budgetary funds increased by 1.4% to 1.0437 trillion rubles.

Tax windfalls into the consolidated budgets of subjects of the Russian Federation shrank by 17.6% to 3.0116 trillion rubles in the eight months.

Windfalls into the federal budget fell by 35.8% to 2.976 trillion rubles.

The bulk of revenue to the federal budget administrated by the Federal Tax Service comes from VAT (40%), extraction taxes (30%), the unified social tax (18%) and taxes on profits (7%).

In the first eight months of 2009, windfalls from the unified social tax increased while the remaining taxes for the federal budget have shown a negative trend throughout the year.