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Minsk region reports 41-percent drop in budget revenues in first five months

Tax payments to the Minsk region’s budget amounted to 1,185.4 billion rubels from January through May of this year, a fall of 41.4 percent compared with the first five months of 2008, the tax ministry said.

The revenues fell short of the five-month target set by the government by 16.5 percent

In the first five months, payments from the region’s state-owned enterprises totaled 545.3 billion rubels, or 46 percent of all tax revenues, a more than twofold decrease compared with the same period of the previous year.

Private businesses paid 638.9 billion rubels in taxes and individuals’ taxes contributed 1.2 billion rubels.
Small businesses paid 258.1 billion rubels in taxes, a year-on-year increase of 3.1 percent.

Tax arrears amounted to 12.3 billion rubels as of June 1.

The region’s tax authorities conducted 3,729 inspections from January through May, imposing a total of 15 billion rubels on businesses in extra taxes and penalties. Of the amount, only 6.3 billion rubels has been collected so far.

The inspections also established that businesses had received 3.7 billion rubels in illegal value-added tax refunds. //BelaPAN