Like last year, the budget of the Northern capital in November reached the level of 1 trillion rubles. The positive dynamics of revenue receipts made it possible in the fall to adjust the revenue side upward – to 1 trillion 97 billion rubles. This is reflected in the law on the budget of St. Petersburg for 2023, the press service of Smolny told RosBalt news agency.
“This year the budget is being implemented in the context of significant changes in federal legislation. The abolition of the institution of consolidated groups of taxpayers and the transition to a single tax payment certainly had an impact on the city budget. But, despite all the peculiarities of the financial year, the budget has already received 1 trillion 27 billion rubles. I would like to thank residents and businesses for their responsible and honest approach,” said Governor Alexander Beglov.
The majority (97%) of budget revenues are payments from St. Petersburg businesses and citizens in the form of taxes, rent and other obligatory payments. The remaining 3.5%, or 35 billion rubles, are interbudgetary transfers.
The largest sources of revenue continue to be corporate income tax and personal income tax. They amounted to almost 724 billion rubles in almost equal shares (353 billion rubles – income tax, 371 billion rubles – personal income tax).
Significant amounts of revenue were also provided by special tax regimes (payments for small and medium-sized businesses, as well as the self-employed) and property taxes – 76 billion rubles and 74 billion rubles, respectively.
Due to all non-tax payments (the largest of which are income from the use and sale of state property, income from the placement of budget funds, travel fees, income from paid parking and fines), the budget was replenished by another 82 billion rubles.
A stable flow of income allows St. Petersburg to timely and fully fulfill social obligations and finance development expenses, which in the 2023 budget amount to 25% of total expenses, city authorities emphasize.
Let us note that the draft budget of St. Petersburg for 2024, as well as the planning period of 2025 and 2026, provides for an annual increase in revenue of 7-8%.
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