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The authorities expect including UAH 1 bln ($36 mln) of additional revenues as a result of the adoption by the Parliament of amendments to the Tax Code on the excise duty on passenger vehicles.
After the approval at the Cabinet of Ministers and finalization for the second reading in the Verkhovna Rada, the 2019 State Budget draft provides revenues of UAH 1.026 trillion ($36.94 billion), which is UAH 18 bln ($648 million) more than the original estimate.
According to the Ministry of Finance, the raise includes that of the expected inflows from the National Bank by UAH 2 bln ($72 mln), the income tax on enterprises - by UAH 2.9 bln ($104 mln), the rent for the extraction of natural gas due to an increase in the price of gas for households and producers of thermal energy - by UAH 9 bln ($324 mln), and revenues of government institutions — by UAH 1.4 billion ($50 mln).
It also provides for an increase in revenues of UAH 5.2 billion ($187 mln) in connection with the passing in the first reading of changes to the Tax Code regarding the improvement of administration and the revision of the rates of certain taxes and fees (Bill No. 9260).
In addition, the authorities expect UAH 1 bln ($36 mln) of additional revenues as a result of the adoption by the Parliament of amendments to the Tax Code on the excise duty on passenger vehicles (Bill No. 8487).
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Also, revenues are taken into account from foreign business entities and organizations under separate contracts in the amount of UAH 2.8 billion ($100.8), with their allocation for the budget's special fund.
Expenditures in the draft state budget revised for the second reading amounted to UAH 1.112 trillion ($40.04 bln), which is also UAH 18 billion ($648 million) more than the original estimate.
Accordingly, the budget deficit ceiling remained unchanged at UAH 89.989 billion ($323.7 million), or 2.3% of GDP.
As UNIAN reported earlier, the Cabinet of Ministers submitted to the Verkhovna Rada a 2019 State Budget draft, revised for the second reading. Parliament approved the state budget in the first reading on Oct 18.
According to the Minister of the Cabinet of Ministers Alexander Saenko, Rada will consider the revised version on Nov 22.