Moscow’s revenue increased by 16.3% in 2021
MOSCOW, February 14. /Then 24/. The volume of income from the budget of Moscow in 2021 increased by 16.3% compared to 2020 and by 26.8% compared to 2019. Last year, the city budget received more than 3.3 trillion rubles, Then24 told the press service of the capital’s finance department. .
“Last year, the Moscow budget received 3 trillion 335.6 billion rubles. Compared to 2020, the revenue part of the Moscow budget increased by 16.3% and 26.8% from the level of 2019%. Revenues of the city budget increased from all major sources of income. The main factor was the strong dynamics of Moscow’s economy, caused by the recovery of business and consumer activity, an increase in public and private investment in the development of the metropolis,” the press service said.
They specified that Moscow’s budget tax revenue in 2021 reached 2 trillion 908.8 billion rubles, or 87.2% of all city budget revenue. The increase in tax revenue in 2021 amounted to 25.1% or 582.7 billion rubles by 2020. Compared to 2019, tax revenue increased by 27.5%.
“The biggest tax revenue contribution to the Moscow budget was provided by personal income tax (PIT) and corporate tax revenue – 84.3% of all tax revenue. Last year, revenue from the simplified tax system came third after personal income tax and profit tax. In fourth position is the property tax of organizations,” the ministry noted.
So, at the end of last year, 1 trillion 368.4 billion rubles were transferred to the Moscow budget for personal income tax, which is 213.2 billion rubles or 18.5% more than in 2020 and 329.6 billion rubles or 31.7% – 2019 of the year. For corporate tax in 2021, 1 trillion 83.3 billion rubles were received. The volume of payments increased by 36.6% or 290.2 billion rubles compared to 2020 and by 24.9% or 216.1 billion rubles – compared to 2019. Revenues from special tax regimes in 2021 amounted to 167.7 billion rubles. This is 40.3% or 48.1 billion rubles more than in 2020, and 40.6% or 48.4 billion rubles more than in 2019.
In addition, the volume of payments to the Moscow budget for corporate property tax increased by 5.1% compared to 2020 and amounted to 148.6 billion rubles. Compared to 2019, the indicator increased by 5.4% or 7.6 billion rubles. Non-tax revenue accounted for 8.7% of total city budget revenue. In 2021, the Moscow budget received 289.1 billion rubles of non-tax revenue, which is 13.7% more than in 2020 and 4.5% more than in 2019.
Year of economic recovery
“The past year was a period of active recovery of the Moscow economy. Timely measures taken to support businesses and citizens have prevented the emergence of negative phenomena in the economy. preconditions for a new sustainable recovery,” Elena Zyabbarova, Moscow government minister, head of the finance department, was quoted by the press service as saying.
She pointed out that the results for 2021 have not yet been definitively summarized. But statistical data reflecting the dynamics of the main macroeconomic indicators “show pronounced positive trends”.
For example, the industrial production index at the end of 2021 stood at 136.6% compared to 2020. The growth of fixed asset investments at comparable prices in January-September 2021 reached 21.9% compared to the same period in 2020.
Rising wages and falling unemployment
The Moscow government minister added that in addition to low unemployment rates in Moscow, wages are steadily increasing: the level of average monthly nominal wages accumulated in Moscow in January-November 2021 increased by 9.7% compared to the same period in 2020.
“Registered unemployment has continued to fall – last year it fell 2.6 times and stood at 0.5% as of January 1, 2022. As of February 7, 2022, the unemployment rate was 0.45 % and was approaching the pre-pandemic level” – said Zyabbarov .
The sphere of trade and services has strengthened
According to Zyabbarova, the results of the execution of the city’s budget for 2021 demonstrate that the city’s economy remains very diversified. The sectoral structure of the budget is dominated by trade, services, finance, high technology industries, telecommunications and communications. The oil and gas industry’s share of the city’s budget revenue last year was less than 5%.
The head of the department also noted that in 2021, a noticeable growth rate of tax and non-tax revenue for the city budget was demonstrated by commercial enterprises – by 24.4% or 99.7 billion rubles, provision of services to the population – by 25.3% or 46.9 billion rubles, construction industry – by 17.4% or 29.9 billion rubles, manufacturing industry – by 13.6 % or 23.6 billion rubles, consulting and scientific activities – by 18.9% or 23.5 billion rubles.
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