Personal income tax deductions amounted to 7.5 billion in Bashkiria

UFA, 13 February 2020. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Preliminary, personal income tax deductions amounted to 7.5 billion rubles in Bashkiria. It was announced at a meeting of the committee on the financial policy of the State Assembly RB, by the head of the regional Ministry of Finance Lira Igtisamova. At the end of 2018, the personal income tax deductions reached 6.9 billion rubles (1.1 billion rubles more than in 2017).

PIT increased the budget for 2019 by more than 58 billion rubles (+ 4.8% by 2018) and constituted almost 30% of budget revenue.

Corporate income tax deductions amounted to over 5 billion rubles (+ 5% by 2018) in the total sum of 52.2 billion. Companies and enterprises are compensated for the costs of science, transportation, retraining of employees, production costs.

Citizens can return part of their costs for medical treatment, training, real estate purchase, mortgage interest. Besides, parents are entitled to deductions for children, for disabled children.

The 2019 consolidated budget of the republic was executed for 198.73 billion rubles in revenues (+ 11.2% compared to 2018), by 215.12 billion rubles in spending (+ 19.5% by 2018).