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The Tax Commission of Kazakhstan Ministry of Finance exceeded the target on refilling the budget, Tengrinews.kz reports citing press-service of the Tax Commission. October 28 the authority reported on incomes of the state and local budgets in the first 9 months of 2011 at the meeting of the Tax Commission.. “The plan on the state budget revenues in the first 9 months of 2011 has been fulfilled 107.3 percent. The planned revenues made 1,911 billion tenge ($13 billion), the actual revenues made 2,051.1 billion tenge ($14 billion). The excess made 140.1 billion tenge ($1 billion) or 7.3 percent. The majority of the excess is coming from corporate income tax. The corporate income tax plan was exceeded 5.7 percent or 37.8 billion tenge ($257 million), the plan on special taxes and payments from subsoil users was exceeded 27.3 percent or 33.6 billion tenge ($229 million) and the plan on VAT on goods imported from Russia was exceeded 16 percent or 27.2 billion ($185 million),” the press-service states. Speaking on the growth of budget revenues as a result of the Customs Union the authority said: “In 9 months of this year, the amount of VAT on goods imported from Russia and Belarus made 204.9 billion tenge ($1.4 billion), or 116.8 percent.”
The Tax Commission of Kazakhstan Ministry of Finance exceeded the target on refilling the budget, Tengrinews.kz reports citing press-service of the Tax Commission. October 28 the authority reported on incomes of the state and local budgets in the first 9 months of 2011 at the meeting of the Tax Commission..
“The plan on the state budget revenues in the first 9 months of 2011 has been fulfilled 107.3 percent. The planned revenues made 1,911 billion tenge ($13 billion), the actual revenues made 2,051.1 billion tenge ($14 billion). The excess made 140.1 billion tenge ($1 billion) or 7.3 percent. The majority of the excess is coming from corporate income tax. The corporate income tax plan was exceeded 5.7 percent or 37.8 billion tenge ($257 million), the plan on special taxes and payments from subsoil users was exceeded 27.3 percent or 33.6 billion tenge ($229 million) and the plan on VAT on goods imported from Russia was exceeded 16 percent or 27.2 billion ($185 million),” the press-service states.
Speaking on the growth of budget revenues as a result of the Customs Union the authority said: “In 9 months of this year, the amount of VAT on goods imported from Russia and Belarus made 204.9 billion tenge ($1.4 billion), or 116.8 percent.”
