Yekaterinburg budget might lose 2.5bn RUR next year due to shrinking income tax

7 November 2013 (09:29)

November 7, 2013. Yekaterinburg budget might look 2.5bn RUR smaller in 2014 because of lowered private individuals’ income tax payments, Head of Yekaterinburg Administration Alexander Yakob said at a press conference.

He explained that more than 4bn RUR could be underpaid into the city’s budget due to lack of inter-budgetary transfers; on the whole, the city budget might get 7bn RUR less next year.

Now under the project of Sverdlovsk Region’s consolidated budget next year, the income is expected to rise from 156bn RUR to 166bn RUR (+6.5%). At the same time, Sverdlovsk Region Government refers to the decrease in the city budget as the reason the inflow of subsidies into Yekaterinburg budget will be reduced. This is primarily inter-budgetary transfers that have to come into tows after some of the powers were vested with the local authorizes.

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