The Budget, Taxes and Finance Committee discussed the 1st half of 2012 budget performance

The first half of this year revenue is amounted to 57% of 2012 target, which is an upbeat figures on the budget plan were surpassed.
Today two main issues were discussed at the meeting of the Committee on Budget, Taxes and Finance. The first isue on the agenda was the consideration of the draft law of the Republic of Tatarstan on the patent system of taxation. Minister of Finance Radik Gayzatullin, spoke about the specifics of the patent system of taxation being imposed, according to the Tax Code of the Russian Federation in the Republic of Tatarstan.

The draft law on the patent system of taxation will face the first reading at a session of the State Council of the Republic of Tatarstan on September 13.

According to the draft law on the patent system of taxation in the Republic of Tatarstan, a potentially possible amount of annual revenue will be installed for the self-employed people. For the main types of business the amount of such income will be 310,000 rubles within cities with a population of less than one million and 370 thousand rubles for cities with a population over one million.

Radik Gayzatullin explained that the individual entrepreneurs will have a choice to get a patent at the rate of 6 per cent, to stay on a single tax on imputed income or to pay tax under the simplified system of taxation with actual income at the same rate of 6 percent from January 1, 2013.

The meeting also reviewed and discussed the 1st  half of 2012 report on the budget of the Republic of Tatarstan. According to the Minister of Finance Radik Gayzatullin report, the budget of the Republic of Tatarstan received income in the amount of 82,192,388 thousand rubles in the first half of 2012, which is 57% of the approved for that year.
Budget expenditures amounted RT 82,920 025,600 rubles, or 50.2% of the approved rate of the costs for the implementation of national and departmental programs - 53 561 250 500 rubles (64.6%). On separate republican program has a low level of compliance costs. The size of the deficit and public debt RT exposure limits established in the budget law. In this case, the cost of the public debt maintenance  is amounted to 80 533 thousand or 4.8% of the approved rates.