On December 20, Vitebsk / Diana Kurilo - BELTA /. The total revenue of the Vitebsk region budget (excluding non-reimbursable receipts) for 2012 is projected at Br4.9 trillion, an increase of 70% compared to the expected revenue for the current year. This was announced today to the deputies of the Vitebsk Regional Council by Boris Kichanovsky, Head of the Finance Department of the Vitebsk Regional Executive Committee, as he presented the region's budget draft for the next year, according to a BELTA correspondent. The main sources of revenue will be value-added tax (accounting for 36% of the total revenue), personal income tax (31%), profit tax (10%), land and property taxes, and payments from revenue under special tax regimes. Local taxes will be retained in the region: dog ownership tax, resort fee, and fees from collectors. Br5.5 billion is planned to be raised through local taxes and fees in 2012, which is 1.6 times more than the expected revenue for 2011. The budget formation has taken into account legislative changes that consolidate a reduction in the tax burden, for example, a decrease in the profit tax rate from 24% to 18%. To balance local budgets and cover targeted expenditures, non-reimbursable receipts of almost Br4.6 trillion are envisaged from the republican budget for transfer to the regional budget in 2012. As Boris Kichanovsky noted, the budget retains its social focus. Budget expenditures of the region, including non-reimbursable receipts, will amount to Br9 trillion, of which 60% will be allocated to the social sphere. Significant funding is allocated to education, healthcare, and housing and communal services (26%, 23%, and 14% of the total volume, respectively). The reconstruction of healthcare facilities will continue, and two new schools and kindergartens will be built. The amount allocated for subsidizing the housing and communal services system has been calculated considering a 35% reimbursement of utility costs by the population. When determining state subsidies for transport, financiers proceeded from the assumption that the level of reimbursement of costs by the population will be 85%. Chairman of the Regional Executive Committee Alexander Kosinets demanded the rational use of budget funds and proposed that deputies reduce budget expenditures by a quarter and accumulate these funds in a reserve fund. Deputies of the Vitebsk Regional Council supported the proposal and approved the regional budget.-0-

BELTA