Kazakhstan's state budget revenue exceeds planned value

BAKU, Azerbaijan, Oct. 31

By Nargiz Sadikhova - Trend:

The value of tax payments to the state budget of Kazakhstan exceeded six trillion tenge ($15.5 billion) during first nine months of 2019, which is 102 percent of the planned value, Trend reports with reference to Kazakh State Revenue Committee.

Notwithstanding the decrease of some exported goods, tax payments to the republican budget plan was implemented by 105.5 percent and to local budgets was implemented by 106.3 percent.

Thus, the actual value of tax payments to state budget was 6.426 trillion tenge ($16.6 billion) instead of planned 6.301 trillion tenge ($16.2 billion) indicating a surplus worth 125.3 billion tenge ($323.9 million).

Furthermore, payments to republican budget were 4.697 trillion tenge ($12.1 billion) instead of planned 4.675 trillion tenge ($12 billion), indicating an surplus worth 22.3 billion ($57.6 million).

Tax payments to local budgets were 1.729 trillion tenge ($4.4 billion) instead of planned 1.626 trillion tenge ($4.2 billion) with a surplus of 103 billion tenge ($266.2 million).

According to Minister of National Economy of Kazakhstan Ruslan Dalenov, it has been proposed to increase the republican budget revenues by 95 billion tenge ($245.5 million) due to tax revenues by 12 billion tenge ($31 million) and non-tax revenues by 83 billion tenge ($214.5 million).

Non-tax revenues are to increase by 83 billion tenge ($214.5 million) due to an increase in dividend income by 50 billion tenge ($128.5 million) to 66 billion tenge ($169.7 million), actual income by 33 billion tenge ($848 million).

He added that in general, the republican budget revenues (excluding transfers) in 2019 will amount to 7.8 trillion tenge ($20 billion).

The major part of the budget accounts for value added tax (2.8 trillion tenge or $7.1 billion), corporate income tax (2 trillion tenge or $5.1 billion), taxes on international trade (1.5 trillion tenge or $3.8 billion).

The republican budget deficit remains at the previously approved level of 1.3 trillion tenge ($3.5 billion). In relation to GDP, this is 2.1 percent.

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