BAKU, Azerbaijan, October 11. The state budget received revenues in the amount of 11.1 trillion tenge ($23 billion) or the plan was executed by 104.8 percent, Minister of Finance of Kazakhstan Yerulan Zhamaubayev said during a government meeting, Trend reports citing the government.
"The state budget of Kazakhstan received revenues in the amount of about 7.5 trillion tenge ($15 billion) or the plan was executed by 101.9 percent. The revenue plan was exceeded by 143 billion tenge ($302.8 million), of which taxes - by 55 billion tenge ($116.6 million), and non-tax - by 89 billion tenge ($188.4 million). The main amount of overfulfillment of taxes falls on VAT," he stated.
According to Zhamaubayev, the main factors for the accomplishment of taxes are the following:
- increase in turnover on the sale of goods, works and services for 9 months tenge by 24 percent compared to the same period last year;
- increase in imports from third countries by 26 percent.
At the same time, the plan hasn't been fulfilled for import customs duties, corporate income tax (CIT) and electronic trading platform (ETP) for crude oil.
The non-compliance with the CIT plan is associated with a decrease in the amount of declared advance payments for nine months of 2022 for 632 large taxpayers compared to the same period last year by 29 percent.
The unfulfillment of the ETP plan for crude oil is associated with the decrease in the actual ETP rate from the forecast indicator and a change in the Kazakh tenge exchange rate against the US dollar.
The revenues of local budgets, according to him, were executed by 111.2 percent and amounted to 3.7 trillion tenge ($7.8 billion).
The plan surpassed the plan by 371 billion tenge ($785.6 million), of which taxes - by 316 billion tenge ($669.1 million)
The plans on revenues exceeded the plan in all the regions of the country.
As for the expenditure part of the state budget, the plan was executed by 96.2 percent. At the same time, the state budget - by 96.3 percent, and local budgets - by 97.9 percent.
“Expenditures in the amount of 12.9 trillion tenge ($273 billion) were made under the state budget. The non-execution amounted to 494 billion tenge ($1.04 million), of which 9 billion tenge ($19 million) was savings and 485 billion tenge weren't mastered,” he said