Poltava region is one of the ten budget-forming regions of Ukraine

Poltava region is one of the ten budget-forming regions of Ukraine
Poltava region is one of the ten budget-forming regions of Ukraine Regions at war 14 Jun 2023 at 08:00

Poltava region ranks 6th in Ukraine in terms of state budget revenue. It is among the top ten budget-forming regions, contributing nearly 4% of the total revenue along with the Kyiv, Dnipropetrovsk, Lviv, Odessa, and Kharkiv regions. Regarding local budget formation, it holds the 8th position.

This was reported at a staff meeting by the Acting Head of the State Tax Service in Poltava region, Alla Ryabkova, who informed about the state of revenue provision for budgets at all levels, considering the peculiarities of tax and levy administration during the wartime.

"Currently, Poltava is among the top budget-forming regions in Ukraine. Our share in filling the state consolidated budget is almost 4%. We stand alongside regions like Kyiv, Kyiv region, Dnipro, Lviv, Odessa, and Kharkiv regions. Currently, the State Tax Service in Poltava region has nearly 100,000 taxpayers registered. Of them, 40,000 are legal entities, and 60,000 are private entrepreneurs," she said.

Additionally, the State Tax Service in Poltava region administers all taxpayers of the Kherson region, the Autonomous Republic of Crimea, and Sevastopol, which is about 300,000 taxpayers.

"As of today, we have provided revenue for the state and local budgets in the amount of nearly 22 billion hryvnias. Currently, the mining industry leads in the structure of consolidated budget revenues, comprising 42%, totaling 9 billion hryvnias. State administration and defense account for 10%, or 2.1 billion hryvnias. Agriculture represents 9%, or 1.9 billion hryvnias. Processing industry contributes 7%, or 1.5 billion hryvnias. Trade stands at 1.2 billion hryvnias, which is 6%, and construction at 4%, totaling 0.9 million hryvnias," Ryabkova added.

Almost all sectors of the region have shown a positive growth in revenues overall. These include state administration and defense, agriculture, processing industry, and trade. The situation is less favorable in construction and the mining industry.

As for the mining industry, there are objective factors affecting the state budget revenue. This is primarily related to changes in legislation, where currently, the mining industry pays taxes based on the sale of oil and gas, not on the extraction itself, significantly reducing budget revenues.

Moreover, there is a tendency for a decrease in the prices of natural gas and oil by 39.22%. Therefore, this has contributed to a reduction in revenues from the mining industry.

In terms of other sectors of the economy, they are showing a fairly positive growth in budget revenues.


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