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Ukraine's budget 2017 revenue reaches UAH 174.74 bn, exeeds Q1 2017 target by 110.6% - Treasury

Ukraine's budget 2017 revenue reaches UAH 174.74 bn, exeeds Q1 2017 target by 110.6% - TreasuryRevenue of Ukraine's national budget in January-March 2017 reached UAH 174.74 billion. This is 10.6% or UAH 16.7 billion more than the target, Ukraine's State Treasury Service has reported.

This is reported by Interfax-Ukraine.

Revenue grew by UAH 45.58 billion or 35.3% compared to Q1 2016.

In March alone the budget saw UAH 62.69 billion of revenue. This is 13.3% or UAH 7.37 billion more than the target.

Tax payments in January-March 2017 grew by 34.4% year-over-year, to UAH 91.02 billion, while customs payments – by 31.6%, to UAH 66.85 billion.

The three-month target was met by 107.9% and 113.7% respectively.

In March 2017, due to large VAT refunds and the postponement of the tax payments terms tax payments were less by 13.6% compared to January-March 2016, totalling UAH 28.77 billion, while a rise of 27.5% was seen for customs payments, to UAH 26.5 billion. The March target was met by 107.1% and 116.3%.

In Q1 2017 VAT for UAH 26.93 billion was refunded, and this is 21.2% more than in Q1 2016, including UAH 9.92 billion refunded in March (58.6% up on March 2016).

Revenue of the general fund of the national budget in January-March 2017 was UAH 162.49 billion (10.6% up the target and 33.8% up on January-March 2016).

The authority said that revenue of local budgets grew by 36.9% in Q1 2017, to UAH 43.63 billion, while in March they rose only by 18.7%, to UAH 14.63 billion.

Payment of single social security tax in March 2017 grew by 39.5% on March 2016, being UAH 14.2 billion, and in Q1 2017 they rose by 29.4%, to UAH 38.83 billion.
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