A third of Russia’s budget was based on oil

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www.vsyako.netPhoto: Maxim Bogodvid / RIA Novosti

Oil and gas companies are responsible for a third of all revenues in the Russian budget system. They pay 17 percent more than indicated in the current assessment of the Ministry of Finance. This is the conclusion based on own calculations, which the Finance Ministry called incorrect, it is owned by Grigory Berezkin the RBC.

The office publishes the “petroleum revenues” in 2006. Their share in the Federal budget in different years ranged from 36 percent to 51. However, estimates of payments oil and gas companies in the Russian budgets of various levels, including income taxes, VAT in the industry, insurance premiums and more previously not included.

It turned out that in 2018 the sum of all the revenues of this sector amounted to 10,567 trillion rubles — more than one third of all budget revenues. The Finance Ministry in its statistics says only about nine trillion rubles.

Figures from the Ministry of Finance directly associated with the budget rule that extra revenues from oil, if it’s more than $ 40 per barrel, used to replenish the reserves. The representative of Department did not agree with the publication. He stressed that the new methodology would have led to many of the problems with using fiscal rules. Would have started the debate about the unreliability of the estimates and attempts to manipulate. In addition, the tax reporting would be more difficult at times.

Also in the RBC calculation does not include the dividends in favor of the state and deduction of excise taxes on petroleum products because the Federal tax service (FNS) doesn’t rank its statistics on types of economic activities.

Earlier the head of Ministry Alexander Novak said that the price of oil in the range of 55-65 per barrel, the most favorable for Russia, since satisfied customers and producers. As of August 22 Brent crude rising above $ 60 per barrel.

Video, photo All from Russia.

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