You're reading: Tax service ups transfers to budget general fund by 7.1% in January-May 2012

The State Tax Service of Ukraine in January-May 2012 transferred Hr 83.3 billion to the general fund of the national budget, which is 7.1% up from the corresponding period in 2011.

According to the press service, the budget over the period received an additional Hr 483.9 million in revenues.

The consolidated budget of Ukraine got Hr 120.2 billion over the first five months of this year: the national budget received almost Hr 87 billion, and local budgets – Hr 33.2 billion. In addition, taxpayers were paid Hr 15.1 billion in VAT refunds.

"We have fully executed the task on profit tax, the share of the net profit of state enterprises, gas royalties and royalties for gas and ammonia transit through Ukraine, royalties for subsoil use," reads a statement.

As reported, the State Tax Service of Ukraine in January-April 2012 transferred Hr 60.8 billion to the general fund of the national budget, which is almost 8% up on the corresponding period of 2011. The consolidated budget of Ukraine in the first four months of the year received Hr 88.9 billion: Hr 63.2 billion came to the national budget, and Hr 25.7 billion to local budgets. In addition, taxpayers were reimbursed Hr 15.1 billion in VAT.