Revenues to the local budget of the Vitebsk region increased by Br235.5 million in 2022

In 2022, revenues of the local budget of the Vitebsk region exceeded Br2 billion. An additional Br25.2 million was attracted to the treasury. This was achieved through increased receipts from the main revenue sources due to improved performance of the real sector of the economy. For example, profit tax revenues increased 1.6-fold, largely due to over 1.2 thousand commercial entities performing more efficiently compared to 2021. Accordingly, the tax base for this revenue source increased, specialists explained.

The growth of personal income tax payments by 16.3% was ensured by salary increases for employees in almost 4.5 thousand organizations, as well as an overall increase in the wage fund by 11.8%. Another factor that positively influenced the growth of this revenue source was the reduction in the number of entities not paying personal income tax, including through "envelope" wage payments. In 2022, tax inspectorates of the Vitebsk region identified 113 such cases, which resulted in additional personal income tax accruals totaling over Br2.8 million.

The main revenue sources for the local budget of the Vitebsk region in 2022 were personal income tax, accounting for almost 38.4% of total receipts, VAT (29.5%), profit tax (almost 10%), and property taxes (7.6%). In total, Br768.9 million in personal income tax was transferred to the treasury, which is Br107.5 million more than in 2021; VAT amounted to Br591.4 million (plus Br40.6 million); profit tax was Br199.9 million (plus Br72 million); and property taxes were Br152.9 million (plus Br5.6 million).

"BELTA"