Russia's budget in 2013 would wipe 130 billion rubles due to the Olympic Games in Sochi and the APEC summit
Russia's budget this year, 130 billion rubles will receive less revenue from value-added tax (VAT). This was announced by Deputy Finance Minister Tatyana Nesterenko.
These losses are due to the massive return of VAT. The growth in income tax refunds, in turn, is connected with the end of major investment projects. In particular, it is about the Vladivostok APEC summit and the Sochi Olympics in 2014.
In such a situation the government has set itself on its own, has chosen to issue additional shares of state-owned companies, rather than to sell the state-owned securities directly. Now the government is puzzled to find sources of funding to make up for budget losses.
According to Nesterenko, instead of the expected 427 billion rubles of revenues from privatization in Russia this year may get 60 billion rubles.
Nesterenko added that the government is now looking for funding sources to make up for the loss of the budget. According to her, the sum of $ 500 billion of additional income that will have to find the Ministry of Finance, it is necessary to implement the plan on the budget and not increase costs.
On the eve of the Finance Minister Anton Siluanov reported that in 2013 will have to find additional revenue to the tune of half a trillion rubles. He added that the funds needed for additional projects that occur during the execution of the budget. Such expenses he ranked social projects and health facilities, as well as transport infrastructure projects.
Siluanov noted that in accordance with the "budget rule" for additional costs should only be non-oil revenue. The Minister specified that a plan to mobilize 500 billion rubles to the budget for 2013 will be ready by the summer. The additional revenues from high oil prices, is expected in 2013 will be 230 billion rubles.
Last year, the VAT refund was nearly a trillion rubles, or 283 billion more than the results of 2011. About a third of claims were in oil and gas companies that implement major investment projects. The right to deduct VAT have companies that purchase goods and services for their business.
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