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Experts predicted the reduction of tax revenues to the regional budgets of the Russian Federation

Experts predicted the reduction of tax revenues to the regional budgets of the Russian Federation

Tax revenues to the regional budgets of the Russian Federation in 2020 will be reduced by 4-5%. To such conclusion analysts of the international rating Agency Moody’s, reports TASS. As noted in the release from the Agency, tax revenues to regional budgets in the national currency will decrease by 4-5%, or about 5.5 billion euros. The regions ‘ revenues are dominated by income tax, the tax to incomes of physical persons and the tax on the property that depend on the economic situation, added to Moody’s. There is also stated that the financial support of the Federal government will not be able to fully compensate for the decline in tax revenues. Analysts believe that the budget revenues of the region may rebound next year as a result of economic recovery, inflation, the ongoing improvements in tax collection and transfers from the Central government.

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