Data on tax revenues posted

In the first half of 2002, tax revenues of the consolidated budget ofRussia amounted to 1.048 trillion rubles (about $33.19bn), which was 23.8percent more than in the first half of 2001. As the press service of theRussian Tax Ministry reported, this data was released at a meeting of theboard of the Ministry devoted to the discussion of tax revenues of thebudget system of Russia in the first six months of 2002 and measures forproviding timely and full tax payments till the end of the year. The growthrate of tax revenues was 37 percent in the corresponding period of 2001.The Tax Ministry points out that the slow-down of the growth rate is mainlyattributed to a decrease in the majority of main indices of Russia'seconomic development.The major part of revenues of the consolidated budget consists of revenuesfrom five taxes. They are the VAT, the profit tax, the income tax onindividuals, excises and payments for using natural resources. In the firsthalf of 2002, these taxes earned RUR873.6bn (about $27.67bn), or 83 percentof total revenues of the consolidated budget. VAT revenues amounted toRUR235.3bn (about $7.45bn), profit tax revenues - to RUR228.4bn (about$7.23bn), revenues from the income tax on individuals - to RUR150.3bn(about $4.76bn), excise revenues - to RUR131.3bn (about $4.16bn) andrevenues from payments for using natural resources - to RUR128.3bn (about$4.06bn)..

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