2024-03-24 17:17:02
In January-April 2022, the State Revenue Committee secured around 632 billion drams in terms of tax revenues and state duty, surpassing the receipts of the same period last year by about 119 billion drams or 23.2 percent. And the April index exceeded the result of the same period of the previous year by 51.2 billion drams or 28.4%, SRC informs.
“It is noteworthy that the main increase was recorded in terms of profit tax and natural usage fees, particularly royalty, perhaps due to the fact that April is the deadline for submitting annual profit tax and royalty calculations. In particular, the profit tax increase in 2022 compared to the previous year. in April was about 32.9 billion drams (98.4 billion drams were collected in April 2022), and 9.8 billion drams in terms of natural usage fees (18.6 billion drams were collected in April 2022), of which 9.4 billion drams were royalties (collected in April 2022 17.2 billion drams).
The excess income tax is primarily due to the increase in gross income. 2021 According to the results, the gross income shown by the profit tax calculations was about 11.6 trillion drams, which exceeds the 2020 the same indicator (made up 8.3 trillion drams) by 39.8%. And in turn, the growth of transactions and documentation, which is the result of economic activity and improvement of tax administration, played a big role in the growth index of the gross income. This is also evidenced by the continuous increase in the number of cash register receipts and other settlement documents and the turnover reflected by them. In particular, in 2021 during the period, the number of transactions (accounting documents) was around 558 million. pieces and the amount recorded with them – 8.2 trillion drams, which exceeds the indicator of 2020 by the number of 102 million pieces (22.4%), and the amount – by 1.7 trillion drams (26.8%).
The change in the mechanism for calculating advance payments from 2020 also had a significant role in the dynamics of the growth of profit tax. Thus, if in 2019 The amount of advance payments of profit tax was about 103.6 billion drams, then in 2020-2021 already amounted to 64.5 billion drams and 67.7 billion drams, respectively.
The increase in the amount of payable tax reflected in the profit tax calculations was mainly recorded in the metal mining industry (increase: about 13.2 billion drams), wholesale trade (increase: about 5.0 billion drams), air transport support (increase: about 3.5 billion drams) and retail trade ( the increase is around 3.2 billion drams).
The other direction, which provided a positive index in April, the increase of royalties in the amount of 9.4 billion drams, is mainly due to the increase in the international prices of metal minerals. In particular, the royalty base has increased due to the international inflation of copper and molybdenum,” the SRC statement said.