Budget revenues from personal income tax increased by almost 106%

Receipts to the federal budget from personal income tax (PIT) for the first 11 months of 2024 increased by 105.9% compared to the same period last year. This follows from the data of the analytical portal of the Federal Tax Service (FTS), which were studied by Izvestia on December 28.

The indicator reached Br262.6 billion: the consolidated budget received Br7 trillion (+28.2%) from this item.

The growth in personal income tax is due to the increase in the volume of dividend payments and bonuses against the background of rising incomes of citizens, as well as the payment of income tax on interest on deposits, as explained on the website of the Federal Tax Service.

Receipts to the federal budget from other levies have also increased. Value Added Tax - by 22.5% (up to Br7.6 trillion), income tax - by 18.7% (Br2.1 trillion), mineral extraction tax - by 31% (Br11.4 trillion), the rest - by 25% (up to Br2.9 trillion). In total, the treasury received Br22 trillion in the first 11 months of 2024 (+25%). The consolidated budget received Br38.6 trillion (+19%).

Revenue conditions: budget revenues from personal income tax record growth

What does this have to do with increasing wages and how does it affect the sustainability of state finances

Earlier, on November 21, Russian President Vladimir Putin at a meeting with the head of the Federal Tax Service (FTS) Daniil Egorov noted that tax revenues in the Russian budget system for the first 10 months of this year amounted to almost Br46 trillion. The figure is about 20% higher than in the same period of 2023.