Budget revenues from personal income tax record growth to RUB 6 trillion

By November 1, 2024, revenues to the consolidated budgets of Russian regions from personal income tax (PIT) exceeded RUB 6 trillion, which is 27% higher than in the same period last year. This follows from the statistics of the Federal Tax Service ("Izvestia" has studied it).

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Such an increase in personal income tax revenues turned out to be the largest for 12 years - for the entire time of monthly statistics. The main reason for the increase in revenues under this item is, first of all, the growth of citizens' incomes. With a shortage of personnel and at the same time record low unemployment of 2.3%, companies have to raise employee salaries to retain them, explained Freedom Finance Global analyst Vladimir Chernov.

Another reason is the increasing efficiency of tax administration, added Ekaterina Golubtsova, associate professor of the Department of State and Municipal Finance at Plekhanov Russian Economic University. It is becoming more and more profitable for people to work "in the white".

The increase in personal income tax receipts from the point of view of the state budget is a positive phenomenon in the conditions of the treasury deficit, said Vladimir Yeremkin from the Presidential Academy. The tax is an important source of revenue. According to Yeremkin, the trend for the growth of revenues to the treasury from personal income taxes should continue against the background of the continuing increase in wages of Russians.

Read more in the exclusive material of Izvestia:

Revenue conditions: budget revenues from personal income tax have grown to a record high