Last year, Moscow's budget revenues for the first time exceeded 2 trillion rubles. It follows from the preliminary data published by the Finance Department. And instead of the planned deficit of more than 200 billion rubles. there was a small surplus - about 2 billion. Compared to the first draft of the budget, revenues were higher than more than 300 billion rubles., says leading analyst S & P Ekaterina Kenel-Novikova. Record revenues are most likely related to the peculiarities of the Russian economy: Moscow benefits from its centralization, says Vladimir Redkin, Fitch Ratings senior director.
The city has no plans to borrow, so it is logical to enter a small surplus, notes Kenel-Novikova. Mayor Sergei Sobyanin told Kommersant that in 2010 Moscow owed about 300 billion rubles, and by January 1, 2018, the debt decreased to 34 billion rubles.
Compared to 2016, revenues increased by 13.2% to 2.097 trillion rubles, and expenses - by 20.7% to 2.095 trillion. Personal income tax and income tax remain the main taxes for the budget, says Vladimir Efimov, head of the Department for Economic Policy and Development of Moscow. The income tax grew due to revenues from the financial and oil and gas sectors, mainly Sberbank, VTB and Gazprom, commented Kenel-Novikova. According to her, the banks have been increasing their receipts for the second year from the low base of 2015, while Gazprom has had a revaluation of its foreign currency obligations due to the strengthening of the ruble, thereby increasing taxable profits.
But most of all the property tax of organizations grew (from January 1, 2014, Moscow charges it from the cadastral value of real estate) - by 33% to 133 billion rubles. The main reasons for the growth of these revenues are the expansion of the list of taxable commercial real estate and clarification of the cadastral value after the assessment of 2016, explains Efimov. First, the tax was levied on freestanding buildings with an area of 5000 sq. M. m, now - with most of commercial real estate. The tax rate is also on the rise: at first it was 0.9%, and by the end of 2018 it should be 2%. In addition, benefits are being reduced, notes Kenel-Novikova.
The cadastral value of the facilities was revised, according to which it was significantly understated, Yefimov said. The Rosreestr databases did not have relevant information on the appointment of a number of large trade and office centers, and they were valued at a minimum cost, most often as social facilities. For example, there are facilities for 18,000 rubles per square meter. m in the Central Administrative District, and their market value is 10-15 times higher, explains Efimov.
Moscow had to switch to real estate taxation at a cadastral value in order to compensate for the drop-out taxes due to the consolidated groups of taxpayers created in 2012 (part of their taxes began to be distributed among the regions). The capital annually lost about 170 billion rubles. Moscow managed to fully compensate for the losses, says Redkin: from advertising revenues, from the use of property, the sale of patents to labor migrants, the introduction of trade fees. For example, from the sale of patents to entrepreneurs, the capital budget received over 5.4 billion rubles, Efimov said.