According to the preliminary data from the Ministry of Finance (MoF), taxes have accounted for 76 percent of the revenue part of the country’s budget in the first three months of this year.
Over the first quarter of this year, tax collection target has been overfulfilled by 1.2 percent and the revenue part of the national budget has stood at 4.373.2 billion somoni over the same three-month period, according to the MoF Secretariat.
The amount of taxes collected over the report period has been 3.331.4 billion somoni, which was more than 76 percent of the revenues.
Compared to the same period last year, the amount of the income tax collected in January-March this year has increased by 105 million somoni, the amount of excise duties collected over the first quarter of this year has increased by 14 million somoni, and the amount of the value added tax (VAT) collected over the first three months of this year has increased by 242 million somoni, the Secretariat says.
Meanwhile, not-tax receipts over the same three month period have reportedly amounted to 286 million somoni or 6.5 percent of the revenue part of the country’s budget. Compared to the same period last year, the non-tax receipts have reportedly decreased by 66 million somoni.
The budget expenditures in January-March this year have reportedly stood at 4.024 billion somoni, which was 90.9 percent of the January-March 2018 level or 402 million somoni less.
Energy spending has reportedly accounted for nearly 20 percent of budget allocations in January-March this year and education spending has accounted for 17 percent of budget allocations over the same three-month period.
Over the first quarter of this year, 14.3 percent of the budget has been allocated to social insurance and social protection, 7.3 percent has been allocated to health care and 5.2 percent has been allocated to the transport infrastructure development, according to the Secretariat.
