Tax Revenues Keep Growing

In January, Russia’s tax revenues grew by almost 13% as compared to January of last year and amounted to about $22 billion. The federal budget has received $14 billion and regions, around $8 billion.

Tax collection in Russia has been rising steadily and, despite global economic crisis, in five years has grown by 50%, from $200 billion in 2006 to $300 billion in 2011.

Indirect taxes - import and export duty, excise, taxes on natural resources and VAT - remain the major source of revenue. In 2006 direct taxes, on corporate profits and on personal incomes, were responsible for 48% of total tax collection, and by 2012 their share has fallen to 44%.