Another 20.7 billion UAH for roads and socio-cultural sphere – expenditures increased due to improved tax administration

Press service of the State Tax Service of Ukraine, published 15 December 2021 at 10:14 Chapter: News

Amendments to the Law on the state budget for 2021 (as of 02.12.2021 311931-IX) increased revenue part of THE general fund of the state budget for 2021, including by 20.7 billion UAH for the State Tax Service, of which:

- VAT on manufactured products by 9.5 billion UAH;

- rent for the use of subsoil for natural gas production by 7.0 billion UAH;

- income tax by 4.1 billion UAH.

“Improvement of tax administration efficiency during the year and favorable economic situation have made it possible to increase spending on development and maintenance of public roads of national importance and development of socio-cultural facilities” – stated acting Chairman of the STS Mikhail Titarchuk.

Revenues of the special fund of the state budget increased by 26.9 billion UAH according to Mikhail Titarchuk, including by 24.7 billion UAH from rent for the use of subsoil for extraction of natural gas. These revenues will be used for sustainable passage of the heating period of 2021/2022.

Reference: annual indicative targets of the Ministry of Finance for the State Tax Service increased twice by a total of 40 billion UAH in 2021, including by 8 billion UAH in May and by 32 billion UAH in October.

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