Payment of taxes and fees
Total taxes and contributions accrued in 2014
RUB 270.5 bln +12.9% compared with 2013
Share of Russian Railways tax proceeds to the Russian Federation in 2014 1.1 % Same level as 2013
The taxes and contributions paid in 2014 RUB 253.3 bln
Total payable taxes in 2014 amounted to RUB 270.5 bln, a 12.9% increase compared with 2013, including to:
- the federal budget — RUB 57.9 bln, an increase of 110% compared with 2013;
- regional and local budgets — RUB 89.7 bln, a decrease of 0.7% compared with 2013;
- extra-budgetary funds — RUB 122.9 bln, growth of 1.3% compared with 2013.
|Total taxes and fees||239.6||270.6||+31.0||112.9|
|Federal budget||28.0||58.0||+30.0||2.1 times|
|Other taxes to the federal budget||0.14||0.11||–0.03||78.6|
|Regional and local budgets||90.3||89.7||–0.6||99.3|
|Personal income tax||54.32||54.24||–0.08||99.9|
|Mineral extraction tax||0.009||0.009||0.00||100|
|Other taxes to regional and local budgets||0.13||0.07||–0.06||53.8|
|Social Insurance Fund||10.68||10.69||+0.01||100|
|Health Insurance Fund||18.87||18.88||+0.01||100|
|Accident Insurance Fund||1.76||1.59||–0.17||90.3|
A total of RUB 253.3 bln were spent on the payment of current taxes (including offsets and refunds) in 2014, including:
- to the federal budget — RUB 43.9 bln;
- to the budgets of the constituent regions of the Russian Federation and municipalities — RUB 95.8 bln;
- to extra-budgetary funds — RUB 113.6 bln
The amount of taxes paid in 2014 increased by RUB 17.2 bln, or 7.3%, compared with the amount of tax payments made in 2013.
The amount of taxes paid to the federal budget grew by RUB 18.6 bln, or 73.6%, compared with 2013, while taxes paid to regional and local budgets decreased by RUB 2.9 bln, or 3.0%, and taxes paid to extra-budgetary funds increased by RUB 1.5 bln, or 1.3%.
Tax revenue paid by Russian Railways made up 1.1% of the budget system of the Russian Federation in 2014.
The overall tax burden amounted to 17.8% in the reporting year, an increase of 1.2% compared with 2013.
|Total taxes and fees||236.1||253.3||+17.2||107.3|
|Valued added tax||23.4||43.3||+19.9||185.0|
|Regional and local budgets||98.7||95.8||–2.9||97.1|
|Personal income tax||53.9||54.5||+0.6||101.1|
|Accident Insurance Fund||1.6||1.4||–0.2||87.5|
Russian Railways paid RUB 43.3 bln in VAT in 2014. The increase in VAT payments by RUB 30.7 bln (2.1 times) was primarily due to the transfer of the motorway section of the Joint Adler Road project to Alpika-Service in December 2014 under an exchange agreement with the Federal Railway Transportation Agency (VAT of RUB 14.2 bln charged) as well as a reduction in tax deductions.
Corporate profit tax
Due to the Company’s losses, it had no profit tax payable to the federal budget or the budgets of the constituent regions of the Russian Federation. The tax charged for income from equity participation in foreign organisations totalled RUB 0.13 bln in 2014. The Company spent RUB 8.0 bln on the payment of corporate profit tax, or 46.2% of the 2013 level.
Regional and local taxes
Russian Railways paid a total of RUB 95.8 bln to the budgets of the constituent entities of the Russian Federation and municipalities in 2014, or 97.0% of the 2013 level.
The decrease in tax payments to regional and local budgets compared with 2013 resulted from a reduction in profit tax payments to the budgets of the constituent entities of the Russian Federation by RUB 8.0 bln, or 51.6%.
Meanwhile, the payments of personal income taxes grew by RUB 0.6 bln, or 1.1%, compared with 2013 due to higher wages for Russian Railways employees.
The amount of property taxes charged in 2014 totalled RUB 33.5 bln, an increase of RUB 5.1 bln, or 17.9%, compared with 2013 due to the abolishment of benefits for railway transportation infrastructure facilities.
The Company spent a total of RUB 31.7 bln on the payment of property taxes in 2014, an increase of RUB 4.4 bln, or 16.2%, compared with the previous year.
Land tax charges and payments both totalled RUB 1.7 bln in 2014, or the same as in 2013.
Total insurance premiums paid to extra-budgetary funds amounted to RUB 122.9 bln in 2014, an increase of RUB 1.6 bln, or 1.3%, compared with 2013.
Insurance premium tariffs for payers making pay-outs to individuals in 2014 amounted to: 22% to the Russian Pension Fund, 2.9% to the Social Insurance Fund and 5.1% to the Federal Mandatory Medical Insurance Fund.
Federal Law No.
At the same time, Federal Law No.
In the absence of a workplace assessment based on labour conditions, the additional tariff of 4% and 6% had been applied to the categories of Russian Railways employees in question, respectively.
Additional insurance premiums of RUB 5.2 bln were paid in 2014 to fund the insurance-based portion of Russian Railways retirement pensions as a result of the additional tariffs established for insurance premiums.
The effective rate on insurance premiums (ratio of accrued insurance premiums versus the amount of payments and other remuneration to individuals) was 36.8% in 2014 (26.0% in 2013).
In accordance with Resolution No. 1101 of the Russian Government dated 30 November 2013, the maximum amount of insurance premiums to be charged to an individual taking into account indexation was RUB 624,000 per year as of 1 January 2014.
The increase in the maximum amount of insurance premiums to be charged from RUB 568,000 in 2013 to RUB 624,000 in 2014 led to growth of RUB 1.8 bln in the amount of insurance premiums charged.