Ministry of Finance: in 2025, collections from the expansion of personal income tax progression will amount to 336 billion rubles
In 2025, federal budget revenues from personal income tax will increase 2.6 times in annual terms. This is how treasury revenues were assessed by the Ministry of Finance, reports “Kommersant”.
Previously, the bulk of personal income tax revenues, which were calculated at a rate of 13 percent, went to regional budgets, and only collections at a rate of 15 percent, applied to income over five million rubles per year, were received by the federal treasury. After the introduction of a progressive tax scale in the country, additional fees began to be transferred to the center.
According to the Ministry of Finance, expanding the personal income tax scale will bring the federal budget 336 billion rubles in 2025. Together with the increase in the tax on profits of foreign companies controlled by individuals (CFC), revenues will increase to 420 billion rubles.
In addition to expanding the progressive scale of personal income tax, the budget will receive more due to increased salaries against the backdrop of high inflation and personnel shortages, the department notes. It will also be affected by the growth of the key rate, which determines the rates on bank deposits and, accordingly, the income of their owners.
According to the Federal Tax Service, in the first five months of 2024, the total volume of revenues to the Russian budget from personal income tax increased by 35 percent and reached a level of 2.6 trillion rubles. Most of the above revenues go to regional and local budgets – at the place of registration of the company. Only the so-called “tax on the rich” goes to the federal level.
#Budget #revenues #progressive #personal #income #tax #estimated