EconomicSociety

2.9 billion to local budgets of Mykolaiv region for Q1: PIT — 66%, revenues increased by 445 million

The single tax yielded UAH 539.5 million (18.4% of all revenues), and land payments amounted to UAH 271.8 million, which is 9.3% more than last year

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During January–March business entities of the Mykolaiv region transferred to local budgets UAH 2.9 billion, which exceeded the indicator for the same period last year by UAH 444.8 million, reported the Main Department of the State Tax Service.

The tax service notes that the core of local budget revenues is traditionally formed by the personal income tax, the single tax for entrepreneurs on the simplified tax system, and land payments.

The share of personal income tax in the revenue structure is almost 66 percent. For the period January–March, local coffers received UAH 1.9 billion in personal income tax (PIT), which is UAH 360.9 million more than last year for the same months.

Small businesses in the region also significantly strengthened the communities’ revenue base: entrepreneurs and farmers on the simplified system paid UAH 539.5 million in single tax, which is 11 percent, or UAH 53.5 million, more than the result for January–March last year.

The share of the single tax in the total volume of local revenues is 18.4 percent.

Next in volume are the land tax and lease payments: owners and lessees of plots replenished community budgets by UAH 271.8 million, which means an increase of 9.3 percent, or UAH 23 million, compared with the corresponding period last year.

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