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Table 1.6
Growth of arrears to the federal budget for1998
Deflated growth of arrears to thefederal budget (in millions of Rbs) | ||
January | 8298 | 15792 |
February | -4381 | 15274 |
March | 2219 | 18467 |
April | 10092 | 18527 |
May | 8386 | 18617 |
June | 543 | 17011 |
July | 7172 | 17908 |
August | 5051 | 14625 |
September | 3143 | 10500 |
October | 4498 | 12565 |
November | 5589 | 14991 |
December | -1256 |
The consolidated budget performance in1998 was, in general outline, similar to the execution of the federal budget,yet it does not show the three periods of the latter as distinctly. Budgetrevenues were coming in at a steadily growing rate from the start of the year,when the budget stood at 18.8 per cent of GDP (with taxes amounting to 16.2 percent of GDP), to 23.2 per cent of GDP in June and July (with taxes topping at19.8 per cent of GDP). Toward year-end, the consolidated budget revenues fellto 22 per cent of GDP in November (with taxes declining to 18.6 per cent ofGDP). Spending followed a similar pattern, peaking at 28.0 per cent of GDP inJune and July, from a much lower level, 24.1 per cent of GDP, and slumping to24.8 per cent of GDP in November.
An analysis of real monthly growth ratesin tax arrears to the federal budget (see Table 1.6) shows arrears to besteadily on the upgrade through most of 1998, February and December being theexception, largely due to netting-out operations (targetfinancing).
Table 1.7
Tax arrears to the federal budget for1998
Deflated arrears to the federalbudget (in millions of Rbs) | Growth rate of deflatedarrears | ||
January | 81566 | 60% | |
February | 77644 | -4,8 | 59% |
March | 78798 | 1,5 | 55% |
April | 85844 | 8,9 | 59% |
May | 91617 | 6,7 | 62% |
June | 91922 | 0,3 | 62% |
July | 96969 | 5,5 | 64% |
August | 97463 | 0,5 | 63% |
September | 72714 | -25,4 | 57% |
October | 72863 | 0,2 | 58% |
November | 74136 | 1,7 | 58% |
December | 65515 | -11,6 |
Taxes due to the federal budget were muchdeeper in arrears than the year before – while they were 4 per cent ofannual GDP in 1997, the figure at year-end 1998 was as high as 6 per cent ofGDP.
A scrutiny of tax revenues as at the startof 1999 is revealing enough – they had shrunk, in comparable prices, from January and February1998, outperforming September 1998 alone.
Little can be learned from a review offederal budget tax arrears as they are captured as stock numbers, and notflows. Some meaningful interpretation can be put on the situation, however. Inparticular, the ratio of accumulated arrears to monthly GDP came out at 64 percent at mid-year (in July), a tad above the 60 per cent registered at the startof the year, in January, and way above the 51 per cent at year-end, inDecember. The decline of real arrears between August and September was notattributable to improved tax collection, but was engineered by a spurt ofrunaway inflation that month, with heavy consequences for the federal budget inthe first place: when and if arrears are paid their real value would be fardifferent from what it was when arrears had first emerged.
Accumulated tax arrears to theconsolidated budget stood at 9.6 per cent of GDP as at 1 January1999.
Table 1.8
Execution of the enlarged government budget(including extrabudgetary funds) for 1998 (per cent of GDP)
Federal budget | Local budgets | Extrabudgetary funds* | Enlarged government budget | ||||||
in blns of Rbs | % of GDP | in blns of Rbs | % of GDP | in blns of Rbs | % of GDP | in blns of Rbs | % of GDP | % of budget | |
REVENUE | |||||||||
1.Income tax, profittax | 34974,4 | 1,3 | 132628,9 | 4,9 | 167603,3 | 6,2 | 17,8 | ||
1.1.Profit tax | 34883,9 | 1,3 | 61495,0 | 2,3 | 96378,9 | 3,6 | 10,2 | ||
1.2.Personal income tax | 90,5 | 0,0 | 71134,0 | 2,7 | 71224,4 | 2,7 | 7,6 | ||
2. Taxes on goods and services.License and registration fees | 158455,4 | 5,9 | 72271,8 | 2,7 | 230727,3 | 8,6 | 24,5 | ||
2.1.Value added tax | 104749,0 | 3,9 | 51763,1 | 1,9 | 156512,1 | 5,8 | 16,6 | ||
2.2.Excises on excisablegoods and selected mineral raw materials produced on RFterritory | 48272,0 | 1,8 | 15317,9 | 0,6 | 63589,9 | 2,4 | 6,8 | ||
Excises on oil, including gascondensate | 7373,4 | 0,3 | 7373,4 | 0,3 | 0,8 | ||||
2.2. Excises on excisablegoods and selected mineral raw materials imported to RFterritory | 4181,5 | 0,2 | 4181,5 | 0,2 | 0,4 | ||||
2.4.License and registrationfees | 428,0 | 0,0 | 3859,9 | 0,1 | 4288,0 | 0,2 | 0,5 Pages: | 1 | ... | 13 | 14 | 15 | 16 | 17 | ... | 37 | Книги по разным темам
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