BAKU, Azerbaijan, Nov. 10
Trend:
Minister of Finance of the Republic of Kazakhstan Yerulan Zhamaubayev disclosed the funds transferred to the state budget for 10 months of 2021, during a government meeting, Trend reports referring to a correspondent of Kazinform news agency.
“The revenues in the amount of 8.7 trillion tenge ($20.3 billion) were transferred to the state budget, the plan was fulfilled by 102.9 percent,” the minister said. “The revenues in the amount of 5.6 trillion tenge ($13.05 billion) were transferred to the republic budget, the plan was fulfilled by 100.2 percent.”
The minister said that the main tax overfulfillment falls on corporate income tax, mineral extraction tax and export customs duty on crude oil.
“The overfulfillment of the corporate income tax plan is connected with an increase in advance payments of 666 big taxpayers by 66.5 percent,” the minister said.
Zhamaubayev said that as for the mineral extraction tax, an increase in prices for 10 months of 2021 compared to the same period of 2020 on the main export positions by an average of 28 percent had an impact on the overfulfillment of the plan.
“An increase in oil prices for 10 months of 2021 by an average of 44.6 percent had an impact on overfulfillment of the electronic marketplace plan for crude oil,” the minister said.
The minister added that at the same time, the plan for VAT on domestic goods and VAT on import was not fulfilled.
“In particular, the plan for VAT on domestic goods was not fulfilled due to an increase in VAT refunds for 10 months of 2021 compared to the same period of last year by 173 billion tenge ($403.3 million) or 32 percent,” Zhamaubayev said.
The minister said that the plan for VAT on import was not fulfilled due to a decrease in import from third countries for nine months of 2021 compared to the same period of last year by 9.3 percent or $1.7 billion.
“The revenues of local budgets were executed by 108.1 percent and amounted to 3.1 trillion tenge ($7.2 billion),” the minister added. “The plan was overfulfilled by 231 billion tenge ($538.5 million), of which taxes - by 177 billion tenge ($412.6 million).”