Russian business has accumulated record debt to the state in 3 years

Russian companies have vastly increased their tax and duty debts to the state amid falling profits and a recession in the economy, which the government forecasts will last until 2023.

According to Rosstat data, in January-October, trade balances of budget and non-budgetary funds of all levels increased by 66% to 122.1 billion rubles.

Delays in contributions paid to the Unified Social Fund (combining the Pension Fund and the Social Insurance Fund), as well as the CHI system, have reached a record 50.1 billion rubles since 2019. Its volume increased by 20.1 billion rubles in 10 months.

Overdue tax debts increased by 28.2 billion rubles and amounted to 70.9 billion rubles by the beginning of November – the maximum since 2020.

The main increase in tax payments occurred in the first months of the war, Rosstat data show: in March, “delays” of business before the budget increased by 19.8 billion rubles, and in April and May by another 14.3 billion. billion rubles, after which in June-October it decreased by 12, 5 billion rubles. Debt on social contributions grew sharply in June (+3.7 billion rubles) and in October (+15.3 billion rubles).

Oil and gas producing companies became the record holders for tax arrears: by the beginning of November, they had accumulated 20.1 billion rubles of non-payment. The budget was owed 7.7 billion rubles by builders and 2.6 billion rubles by manufacturers of “finished metal products, except machinery and equipment” (this group includes defense plants at Rosstat).

The maximum delay in social contributions is in housing and communal services enterprises (10.2 billion rubles), construction companies (4.2 billion rubles) and coal miners (1.6 billion rubles).

The figures reveal problems in paying taxes and duties from business against a backdrop of falling profits. In October, the balanced financial result of the economy (profit minus losses of large companies) fell by 45% to 1.653 trillion rubles.

16.3 thousand enterprises completed minus 10 months of 2022, and their total losses – 5.063 trillion rubles – exceeded last year by 2.5 times.

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