Taxation of legal income of Ternopil residents contributed to the receipt of 2 billion 535.2 million UAH of the personal income tax to local budgets of Ternopil region during January – October 2020. This amount exceeded expectations by 6.8% or 162.3 million UAH. The increase in payment has amounted to 7.4% or 175.1 million UAH comparing to January – October 2019.
The state budget received 859.7 million UAH of taxes, which is 6.8% more than expected. That is, additional revenues have amounted to 54.7 million UAH.
“In total, our compatriots transferred 3 billion 394.8 million UAH of the personal income tax to budgets during 10 months of 2020, which is 233.6 million UAH more than in 2019. It is gratifying that, despite the difficult economic conditions due to the corona crisis, we see a positive tendency in payment of taxes. After all, actual revenues exceeded expectations by 6.8%, which is 217 million more UAH” – specified Head of Main Directorate of the STS in Ternopil region Ivan Punko.
He stated that the personal income tax is a payment that is the basis of local budgets totaling 70-75%. Due to its proper payment, territorial communities receive funds to improve infrastructure and implement socio-cultural programs at the local level. “I believe that official employment, proper wages, legalization of entrepreneurial initiatives will contribute to additional revenues to local budgets, so the leaders of local communities should be as interested as possible in the social protection of citizens.” – emphasized Ivan Punko.
