Revenues of the Vitebsk region budget increased by 22.8% in the first quarter

In January-March 2020, the consolidated budget of the Vitebsk region received over Br441 million in revenues controlled by tax authorities. This is 22.8% more than in the same period of 2019, in comparable prices, as reported by the press center of the regional tax inspectorate.

Additional revenues to the consolidated budget of the region exceeded Br82 million, including revenues to the local budget increased by Br8.5 million, or by 2.5%.

More than 70% of the budget's revenue part was formed from four main sources. The share of personal income tax was almost 30% of the total payments, and its revenue volume increased by more than 9% compared to the same period in 2019. Excise taxes accounted for 25% of the budget revenues, with a growth rate of this revenue source of almost 158%. The amount of value-added tax received increased 3.5 times, with VAT accounting for 17.2% of revenues. The share of property tax was 5.5%, and the revenue volume decreased compared to the same period in 2019.

Legal entities formed about 95% of the consolidated budget revenues, individual entrepreneurs accounted for 2.6%, and individuals for about 2.5% of payments.

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