Business entities of Ternopil region transferred 3 billion 801.2 million UAH of the personal income tax to development of territorial communities during January – November 2020. The PIT revenues have increased by 278.6 million UAH or 7.9% comparing to the corresponding period in 2019. Additional revenues amounted to 273.1 million UAH, as 7.7% was paid more than expected.
Of the total revenues, the state budget received 962.1 million UAH of the personal income tax payment. Local budgets were replenished by 2 billion 839.1 million UAH of the personal income tax. In addition, treasuries received 68.6 million UAH and 204.5 million UAH, respectively, as payment exceeded expectations transferred to the state budget by 7.7% and by 7.8% to local budgets.
It should be noted that this payment is one of the budget-forming revenues of the local treasury. As follows, the personal income tax share in revenues to local budgets is 70% and 60% in the treasury of Ternopil city. These funds are used for implementation of various social programs of Ternopil region, payment of scholarships, various benefits and more. Therefore, business entities that care about the welfare of their native Ternopil are obliged to comply with legislation on wages and pay personal income tax in full amount.
