BAKU, Azerbaijan, Sept. 4
By Klavdiya Romakayeva - Trend:
Budget revenues at the end of 2020 may be lower than official forecasts by 2.6 trillion soums ($253 million), Trend reports via the press service of the Ministry of Finance in Uzbekistan.
In January-August 2020, state budget revenues amounted to 82.9 trillion soums ($8.07 billion), of which 63.5 trillion soums ($6.18 billion) came from receipts administered by tax authorities, and 14 trillion soums ($1.36 billion) came from customs authorities. Other budget revenues amounted to 8.4 trillion soums ($818 million).
Income from mining companies totaled 22.6 trillion soums ($2.2 billion) (or 27.3 percent of total revenues), including income tax 11.1 trillion soums ($1.08 billion), tax for the use of subsoil - 7.6 trillion soums ($740 million), and in the form of dividends on the state share - 3.8 trillion soums ($370 million).
For eight months of this year, a total of 17 trillion soums ($1.66 billion) of income tax and 10.4 trillion soums ($1.01 billion) of subsoil use tax were collected.
For the same period, value-added tax was collected from the tax and customs authorities in the amount of 23 trillion soums ($2.24 billion).
From July 1, 2020, a procedure has been introduced that provides for the refund of VAT for all categories of taxpayers who have an excess of the tax attributable to offset over the accrued tax amount, and not only for payers applying a zero tax rate.
Additional revenues from mining enterprises due to higher prices for precious metals, dividends from state-owned enterprises, and other state budget revenues partially compensate for the reduction in revenues from certain taxes.
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