Main Directorate of the STS in Mykolaiv region provided budgets of all levels with more than 3.5 billion UAH of the personal income tax during January – July 2020. Particularly, the taxpayers transferred 887.7 million UAH of the personal income tax to the state budget, which is 64.9 million UAH more than during the corresponding period in 2019. Local budgets received 2.6 billion UAH of the personal income tax, which is 194.6 million UAH more than during the same period in 2019.
It should be noted that the personal income tax is one of the main sources of filling the local treasury. In the structure of revenues, it occupies the leading position, namely 68.8% of the total amount of other taxes and fees.
Revenues growth of local budgets, particularly the personal income tax, has a positive effect on the socio-economic development of territorial communities in Mykolayiv region. After all, local self-governments can independently ensure the proper functioning of social institutions and address development of territorial communities without allocating additional funds from the state budget.
