Sverdlovsk Region: Finance Companies, Insurers Pay 6.1% Less in Taxes

28 April 2018 (13:18)

UrBC, Yekaterinburg, April 28, 2018. Sverdlovsk Region-based businesses paid RUR 69.6bn in taxes to the federal budget in the first quarter of 2018, which was RUR 10bn, or 16.7%, more than one year previously, the local division of Russia’s Federal Tax Service reports.

The business in question are in the processing industry, wholesale and retail trade sector, transportation and storage industry, finance and insurance, real estate, science and technology, and the sector for the production and distribution of electric power, natural gas, and steam.

The increase in tax payments proved most noticeable for the building industry (up 30.4%, or RUR 1.2bn, on a year earlier, with RUR 5.1bn supplied to the federal budget all in all). This mostly has to do with more new facilities and buildings under construction/reconstruction and road-building and repair projects (mainly due to the incoming World Football Championship).

At the same time, companies in the finance and insurance sector paid 6.1% less in taxes over the same period.

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