Tax revenue reaches MNT 7.5 trillion in the first 11 months of 2020
Economy
Ulaanbaatar/MONTSAME/. According to the preliminary results
in the first 11 months of 2020, the total revenue of the general government
budget was MNT 9.1 trillion. The equilibrated revenue of the general government
budget was MNT 8.3 trillion and 91.0% of the total revenue of general
government budget.
On the other hand, the total expenditure and net lending was
MNT 12.0 trillion in the first 11 months of 2020, resulting in deficit of MNT
3.7 trillion in the equilibrated balance.
In November 2020, the total equilibrated revenue and grants
of general government budget was MNT 0.7 trillion, decreased by MNT 160.5
billion or 18.8%, the total expenditure and net lending was MNT 1.1 trillion, decreased
by MNT 228.1 billion or 16.6% compared to previous month.
In November 2020, the equilibrated balance of the general
government budget was in deficit of 452.1 billion, decreased by MNT 67.6
billion or 13.0% compared to the previous month.
The General government budget revenue was comprised of 82.7%
of tax revenue, 8.3% of non-tax revenue, 8.5% of the future heritage fund and
0.5% of the stabilization fund.
In the first 11 months of 2020, tax revenue reached MNT 7.5
trillion, decreased by MNT 1.3 trillion or 14.3% compared to the same period of
the previous year. This decrease was mainly due to MNT 406.2 billion or 17.7%
decrease in income tax revenue, MNT 378.0 billion or 21.7% decrease in social
security revenue, MNT 187.0 billion or 8.4% decrease in value added tax
revenue, MNT 167.2 billion or 19.9% decrease in other taxes revenue, MNT 84.6
billion or 10.7% decrease in excise tax revenue and MNT 33.0 billion or 4.6% decrease
in foreign activity revenue.
In the first 11 months of 2020, 27.1% from value added tax,
25.2% of the total tax revenue was accumulated from income tax, 18.2% from
social security contributions, 10.9% from other taxes, 9.5% from excise taxes
and 9.1% from foreign activities.
In the first 11 months of 2020, value added tax revenue
increased by 1.7 percentage points, foreign activity revenues increased by 0.9
percentage points and excise taxes revenue increased by 0.4 percentage points,
while income taxes revenue decreased by 1.0 percentage points, social security
contributions revenue decreased by 1.7 percentage points and other taxes
revenue decreased by 0.3 percentage points compared to the same period of the
previous year.
In the first 11 months of 2020, general government budget
expenditure and net lending was MNT 12.0 trillion, increased by MNT 2.8
trillion or 30.0% compared to the same period of the previous year.
This increase was primarily affected by MNT 2.4 trillion or
32.8% increase in current expenditure and MNT 578.0 billion or 32.4% increase
in capital expenditure, though net lending decreased by MNT 174.4 billion or 80.1%,
compared to the same period of previous year.
Source: National Statistics Office