Revenues of the Vitebsk region budget from the use of state property have doubled
Revenues of the Vitebsk region budget from the use of state property for January-November 2012 doubled compared to last year's figures, a correspondent was informed at the finance department of the Vitebsk Regional Executive Committee.
Budget revenues in the form of a share of profits of unitary enterprises and dividends of business entities, rental fees from leasing property, revenues from income-generating activities, and sale of state property for January-November 2012 amounted to Br220 billion.
As noted in the finance department, the work of all economic entities and authorities aimed at increasing gross regional product, improving labor remuneration, and stabilizing the financial and economic situation allowed mobilizing revenue receipts to all budget levels. For 11 months, local budgets of the region received over Br6 trillion in tax and non-tax payments. Revenues increased 2.2 times compared to last year. More than 80% of all revenues were generated from personal income tax, profit tax, value added tax, and property tax. Interest income of Br182 billion was received from placing temporarily free budget funds in bank accounts this year.
According to preliminary data, local budgets will receive Br6.7 trillion in tax and non-tax payments in 2012, which is Br1.7 trillion higher than the initially approved plan. Surplus revenues are primarily directed towards financing socially significant expenditures - salaries for employees of budget organizations, transfers to the population, food, medicines, utility payments, as well as for the construction and reconstruction of dairy farms, and subsidizing work and services.