Russia's FTS Head Reports To Putin On Country's Budget Revenues

Vladimir Putin had a working meeting with Head of the Federal Taxation Service (FTS) Daniil Yegorov who updated him on the agency’s current operations on Monday.

The Federal Taxation Service manages 80 percent of the tax revenues of all budgets, including extra-budgetary funds. Consequently, FTS prioritise the system’s sustainable, high-quality performance.

"In January-October, we obtained revenues worth 23 trillion rubles, or 37 percent more than 2020 levels. Considering the abnormal 2020 period, even compared to 2019, we have boosted revenues by 23 percent, and we are still seeing substantial growth,"Yegorov said.

The Federal Tax Service predicts that total revenue will amount to 28 trillion rubles at the end of 2021 (an increase of seven trillion rubles), i.e. at the level of 2020.

According to FTS's Head, this applies to the economy, as well as the rise in prices for hydrocarbons and metals.

"All these factors had a positive effect, and the effect of tax management should be added,"he added.

Regarding income tax, as reflected by wage balance sheets, FTS have expanded these volumes by 17 percent, and small businesses are achieving 20 percent growth.

And this proves the growth of real wages, Yegorov concludes.