Tax revenue increases by 49.4 percent

Economy
erdenejargal@montsame.gov.mn
2021-06-15 17:39:21

Ulaanbaatar /MONTSAME/. According to the preliminary results in the first 5 months of 2021, the total revenue of the general government budget was MNT 5.9 trillion. The equilibrated revenue of the general government budget was MNT 5.3 trillion and 90.6% of the total revenue of general government budget.


On the other hand, the total expenditure and net lending was MNT 6.2 trillion in the first 5 months of 2021, resulting in deficit of MNT 866.3 billion.


In May 2021, the total equilibrated revenue and grants of general government budget was MNT 860.9 billion, decreased by MNT 956.2 billion or 52.6% compared to previous month and increased by MNT 194.2 billion or 29.1% compared to the same period of previous year.


The total expenditure and net lending were MNT 1.2 trillion, decreased by MNT 974.5 billion or 44.1% compared to previous month and decreased by MNT 365.3 billion or 22.8% compared to the same period of previous year.


In May 2021, the equilibrated balance of the general government budget was in deficit of 375.8 billion, decreased by MNT 18.4 billion or 4.7% compared to the previous month.


In the first 5 months of 2021, the general government budget revenue was comprised of 78.0% from tax revenue, 12.7% from non-tax revenue, 5.6% from the future heritage fund and 3.7% from the stabilization fund. In the first 5 months of 2021, non-tax revenue increased by 4.6 percentage points and stabilization fund revenue increased by 3.5 percentage points while tax revenue decreased by 7.8 percentage points and the future heritage fund revenue decreased by 0.3 percentage points compared to the same period of previous year.


In the first 5 months of 2021, tax revenue reached MNT 4.6 trillion, increased by MNT 1.5 trillion or 49.4% compared to the same period of previous year. This increase was mainly due to MNT 850.3 billion or 2.1 times increase in income tax revenue, MNT 317.1 billion or 43.4% increase in value added tax revenue, MNT 112.9 billion or 44.1% increase in other taxes revenue, MNT 81.6 billion or 30.7% increase in foreign activity revenue, MNT 100.2 billion or 14.6% increase in social security revenue and MNT 36.5 billion or 13.0% increase in excise tax revenue.


In May 2021, tax revenue reached MNT 777.8 billion, decreased by MNT 606.3 billion or 43.8% compared to previous month. This decrease was mainly due to MNT 676.9 billion or 82.1% decrease in income tax revenue and MNT 120.2 billion or 77.9% decrease in other taxes revenue while MNT 136.9 billion or 2.1 times increase in value added tax revenue, MNT 26.7 billion or 45.7% increase in foreign activity revenue, MNT 13.5 billion or 8.6% increase in social security revenue, MNT 8.4 billion or 17.5% increase in excise tax revenue and MNT 4.9 billion or 49.7% increase property tax.


In the total capital expenditure, 55.8% was construction expenses, 31.3% was other capital expenses, 9.3% was equipment expenses, 2.3% was capital repairs expenses and 1.3% was strategy reserve fund capital.


Source: National Statistics Office of Mongolia