Tax revenue increases by 54.3 percent compared to same period of previous year

Economy
unurzul@montsame.mn
2021-05-18 13:53:20

 

Ulaanbaatar/MONTSAME/. According to the preliminary results in the first four months of 2021, the total revenue of the general government budget was MNT 4.9 trillion. The equilibrated revenue of the general government budget was MNT 4.4 trillion and 91.6% of the total revenue of general government budget.


On the other hand, the total expenditure and net lending was MNT 4.9 trillion in the first 4 months of 2021, resulting in deficit of MNT 0.5 trillion, increased by MNT 153.0 billion or 23.8% compared to the same period of previous year.


In April 2021, the total equilibrated revenue and grants of general government budget was MNT 1.8 trillion, increased by MNT 816.7 billion or 81.6% compared to previous month and increased by MNT 1.2 trillion or 3.0 times compared to the same period of previous year.


The total expenditure and net lending were MNT 2.2 trillion, increased by MNT 1.2 trillion or 2.2 times compared to previous month and increased by MNT 1.2 trillion or 2.3 times compared to the same period of previous year.


In March 2021, the equilibrated balance of the general government budget was in surplus of 16.5 billion, while in April 2021, the equilibrated balance of the general government budget was in deficit of 394.2 billion increased by MNT 26.7 billion or 7.3% compared to the same period of previous year.


In the first four months of 2021, the general government budget revenue was comprised of 78.0% from tax revenue, 13.6% from non-tax revenue, 5.3% from the future heritage fund and 3.1% from the stabilization fund. In the first 4 months of 2021, non-taxes revenue increased by 5.8 percentage points, stabilization fund revenue increased by 2.9 percentage points while tax revenue decreased by 7.6 percentage points, the future heritage fund decreased by 1.1 percentage points compared to the same period of previous year.


In the first four months of 2021, tax revenue reached MNT 3.8 trillion, increased by MNT 1.3 trillion or 54.3% compared to the same period of previous year. This increase was mainly due to MNT 794.7 billion or 2.2 times increase in income tax revenue, MNT 241.5 billion or 44.7% increase in value added tax revenue, MNT 136.6 billion or 68.9% increase in other taxes revenue, MNT 55.7 billion or 26.9% increase in foreign activity revenue, MNT 48.7 billion or 8.6% increase in social security revenue and MNT 47.0 billion or 22.1% increase in excise tax revenue.


In April 2021, tax revenue reached MNT 1.4 trillion, increased by MNT 459.4 billion or 49.7% compared to previous month. This increase was mainly due to MNT 643.7 billion or 4.6 times increase in income tax revenue and MNT 75.8 billion or 96.7% increase in other taxes revenue while MNT 146.9 billion or 53.1% decrease in value added tax revenue, MNT 41.9 billion or 46.6% decrease in excise tax revenue, MNT 24.4 billion or 13.4% decrease in social security revenue, MNT 26.9 billion or 31.5% decrease in foreign activity revenue and MNT 19.7 billion or 66.5% decrease property tax.

 

Source: National Statistics Office