LPR 1Q tax revenue increases by 26 percent year on year

LPR first quarter tax revenue increased by 26 percent year on year, State Tax and Revenue Committee press service reported citing the agency’s analytical and monitoring department director Inna Kolomiytseva.

“Budget replenishment is one of the key objectives the Committee is facing. Positive dynamics are the key indicator of the efficiency of selected principles and guidelines,” said Kolomiytseva. 

“To fulfil the tasks allotted by the Republic’s leadership, the Committee coordinated the budget process daily. As a result, we have a 26-percent increase in tax revenue compared with the same period last year,” she said.

The Committee representative noted problems in the Republic’s coal industry because of the Kiev-imposed blockade; as a result, coal companies paid less tax in the first quarter of this year.

“To compensate coal industry revenue shortfall, the Committee focused on securing more proceeds from other sources,” she said.

DONi News Agency