OREANDA-NEWS  In 2024, taxes to the Russian budget system increased to 56.3 trillion rubles. This is reported by the press service of the Federal Tax Service (FTS).

Over the year, they began to collect more taxes by 20.3 percent. Revenues to the federal budget (about 44 percent of all taxes and contributions processed by the agency) increased by 26.1 percent, to 24.8 trillion rubles. 18.7 trillion rubles (plus 13.1 percent) were paid to the regional and local budgets of the subjects, and the budgets of the Social Fund and the Compulsory Medical Insurance Fund (MHIF) — 12.8 trillion rubles.

Most of the revenue came from the mineral extraction tax (MET) — 29.1 percent and 12.6 trillion rubles (plus 27.9 percent year-on-year). The top three also included VAT — 20.1 percent of revenue (8.7 trillion rubles, plus 21.6 percent) and personal income tax with a share of 19.3 percent (8.4 trillion rubles, plus 28.1 percent).

According to the department, personal income tax collections increased last year mainly due to an increase in salaries amid a shortage of personnel and record low unemployment. Due to this trend, tax collections increased by 25.2 percent, or by 1.4 trillion rubles.

In 2025, an expanded progressive scale of taxation will begin to operate in Russia. Russians with an annual income of up to 2.4 million rubles will pay personal income tax to the budget at a rate of 13 percent, with income from 2.4 to 5 million — at a rate of 15 percent, from 5 to 20 million — at 18 percent, from 20 to 50 million — at 20 percent. The highest taxes will be paid by those who receive more than 50 million rubles.

The Ministry of Finance believes that revenues to the state treasury from the expansion of the progressive personal income tax scale will amount to a total of 336 billion rubles. Fees from this tax, as expected by the department, as a result of the innovations, will exceed the 2024 figure by 2.6 times.